Measuring Construction Prices, Output and Productivity [Hardcover]

Despite the size, complexity and importance of the construction industry, there has been little study to date which focuses on the challenge of drawing reliable conclusions from the available data. The accuracy of industry reports has an impact on government policy, the direction and outcomes of research and the practices of construction firms, so confusion in this area can have far reaching consequences.

In response to this, Measuring Constructionlooks at fundamental economic theories and concepts with respect to the construction industry, and explains their merits and shortcomings, sometimes by looking at real life examples. Drawing on current research the contributors tackle:

• industry performance
• productivity measurement
• construction in national accounts
• comparing international construction costs and prices
• comparing international productivity

The scope of the book is international, using data and publications from four continents, and tackling head on the difficulties arising from measuring construction. By addressing problems that arise everywhere from individual project documentation, right up to national industrial accounts, this much-needed book can have an impact at every level of the industry. It is essential reading for postgraduate construction students and researchers, students of industrial economics, construction economists and policy-makers.

1. Editors Introduction  Part 1: Construction Prices  2. Theory and Construction Prices (Goran Runeson)  3. The International Comparison Program and Purchasing Power Parities for Construction (Rick Best, Jim Meikle and Ken Walsh)  4. Cost and Price Indices for ConstructilC’