Research Companion to Construction Economics

Edited by George Ofori, College of Technology and Environment, London South Bank University, UK

• Contents:Foreword xiPreface xiii1 Introduction to the Research Companion to Construction Economics 1George Ofori2 Construction economics: its origins, significance, current status andneed for development 18George Ofori3 The philosophy of construction economics 41Stephen Gruneberg and John Kelsey4 The nature and development of construction economics 61Gerard de Valence5 Construction economics in antiquity 86Jan Bröchner6 Construction in the economy and in national development 104Jorge Lopes7 Construction project economics 126Nii A. Ankrah and Emmanuel Manu8 Dynamics of construction industry development 153Mohan Kumaraswamy and Gangadhar Mahesh9 Applications of mainstream economic theories to the constructionindustry: transaction costs 178Abdul-Rashid Abdul-Aziz and Afzan Binti Ahmad Zaini10 Construction industry and the Sustainable Development Goals (SDGs) 199Alex Opoku11 Sustainability economics and the construction industry 215Obas John Ebohon12 International construction data: a critical review 238Jim Meikle and Asheem Shrestha13 Measuring and comparing construction costs in different locations:methods and data 261Rick Best14 New trends in international construction 277Hongbin Jiang15 Economics of trust in construction 309Anita Cerić16 The builders of cities: prospects for synergy between labour and thebuilt environment 328Edmundo Werna and Jeroen Klink17 Economic principles of bidding for construction projects 351Samuel Laryea18 Procurement and delivery management 371Ron Watermeyer19 The economics of housing policy and construction: developinga responsive supply sector 396Suraya Ismail20 A review of stakeholder management in construction 422Ezekiel Chinyio, Sukhtaj Singh and Subashini Suresh21 The global construction market 445Weisheng (Wilson) Lu and Meng Ye22 Relational impacts of corruption on the procurement process:implications for economic growth in developing countries 466Albert P.C. Chan and Emmanuel Kingsford Owusu23 Economic considerations in the procurement and deployment ofconstruction informatics applications 491Chimay J. Anumba and Esther A. Obonyo24 The future: new directions of construction economics research 514George OforiIndex

‘Probably the most important book in construction economics, this book will teach readers how economics is applied in the construction industry. It describes construction’s impact on enterprises and individuals, as well as the history and economy of ancient architecture. It reviews the expected industrial advancements in developed countries. Traditional development models, tensions between justice, fairness, and economic efficiency are also examined in this book. This book will be very useful to the construction industry.’