Proceedings of the 4th International Symposium on Business Corporation and Development in South-East and South Asia under B&R Initiative (ISBCD 2019)

The Impacts of Standards on the Economic Growth in Construction Industry with the Example of China

Authors
Bowen Xu, Qifa Jiang, Wenfang Sun
Corresponding Author
Bowen Xu
Available Online 9 July 2020.
DOI
10.2991/aebmr.k.200708.031How to use a DOI?
Keywords
engineering construction standard, construction economy, production function
Abstract

Construction plays a key role in an economy, hence it is of critical importance to push this industry for developing countries suffered by under development. This paper introduces a good example of China in which standards are continuously implemented so as to quickly promote industrial competitiveness in construction section. The authors use the extended Cobb-Douglas production function to testify the relationship between engineering standards and the economic growth in construction industry. The results explain that engineering standards have a significantly positive effect on construction economy when based on the data between 1995 and 2016. A 1% additional capital investment will increase 0.182% output in construction, in contrast with the fact that 1% standard change will stimulate 0.933% output in this section. Construction standards have a strong driving force in the economy, which can supply some enlightenment for other developing countries.

Copyright
© 2020, the Authors. Published by Atlantis Press.
Open Access
This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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Volume Title
Proceedings of the 4th International Symposium on Business Corporation and Development in South-East and South Asia under B&R Initiative (ISBCD 2019)
Series
Advances in Economics, Business and Management Research
Publication Date
9 July 2020
ISBN
978-94-6252-983-0
ISSN
2352-5428
DOI
10.2991/aebmr.k.200708.031How to use a DOI?
Copyright
© 2020, the Authors. Published by Atlantis Press.
Open Access
This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

Cite this article

TY  - CONF
AU  - Bowen Xu
AU  - Qifa Jiang
AU  - Wenfang Sun
PY  - 2020
DA  - 2020/07/09
TI  - The Impacts of Standards on the Economic Growth in Construction Industry with the Example of China
BT  - Proceedings of the 4th International Symposium on Business Corporation and Development in South-East and South Asia under B&R Initiative (ISBCD 2019)
PB  - Atlantis Press
SP  - 158
EP  - 162
SN  - 2352-5428
UR  - https://doi.org/10.2991/aebmr.k.200708.031
DO  - 10.2991/aebmr.k.200708.031
ID  - Xu2020
ER  -