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1、SOURCESOFCONSTRUCTIONGROWTHINSELECTEDOECDCOUNTRIESTullioGregoriUniversitàdegliStudidiTrieste,Trieste,Italy.tullio.gregori@econ.units.itRobertoPietroforteWorcesterPolytechnicInstitute,Worcester,U.S.A.roberto@wpi.eduConstructionisbelievedtobelessdynamic
2、thanothermajoreconomicsectors.OvertheverylongtermthisindustrydisplaysabellshapedshareinGNPbyfollowingthepatternofmanufacturing,aslabormovestowardsservicesandconstructionemploymentsharedeclines.Thispatternhasimportantpolicyimplicationssinceconstruction
3、isagrowthengineatlowerdevelopmentstages.ThisissueisaddressedbyusingGrowthandProductivityAccountsthatincludemeasuresofoutputgrowth,employmentandskillcreation,capitalformationandtotal-factorproductivity(TFP)forselectedOECDcountries.Inputmeasuresincludev
4、ariouscategoriesofcapital(K),labour(L),energy(E),material(M)andserviceinputs(S).Themethodologybuildsuponthewellknowntotal-factorproductivity(TFP)analysis.Growthaccountingallowsonetoassesstherelativeimportanceoflabour,capitalandintermediateinputstogrow
5、th,andtoderivemeasuresoftotal-factorproductivity(TFP)growth.TFPindicatestheefficiencywithwhichinputsarebeingusedintheproductionprocessandisanimportantindicatoroftechnologicalchange.ThisframeworkcancomplementstandardInput-Outputanalysistoassessthesigni
6、ficantroleplayedbytheconstructionindustryintheeconomicgrowthofanycountry.KEYWORDS:totalfactorproductivity,growthaccounting,constructionindustry.INTRODUCTIONTheissuesofwhytheconstructionindustrygrewphenomenallyinsomecountrieswhileithasstagnatedorevenre
7、gressedinothersoverthesametimeperiodandofwhyconstructionoutputperworkerhasbeendecliningornotincreasingasinothereconomicsectorsgototheveryheartofconstructioneconomics.OneexplanationreliesonthewellknownUinvertedcurveputforwardbyBon(1992).Inlessdeveloped
8、countriesconstructionoutputislow,butassoonasindustrializationdevelops,housesandinfrastructurearerequiredandbuildingoutputgrowssignificantly(Lewis,2009).Thisviewisconsistentwithpaststudiesofdevelopingcountriesthatdifferentiateeconomicdevelopmen
