TY - GEN
T1 - Government influence on the construction industry during the economic recession 2007-2013
AU - Tansey, Paul
AU - Spillane, John P.
PY - 2014
Y1 - 2014
N2 - Due to the high degree of international and economic integration across the globe, the 2007 global financial crisis quickly spread, causing recessions and widespread credit restrictions in advanced nations. During recessions, economic fluctuations cause dramatic changes to the market structure of industries, in particular, that of the construction sector. These structural changes can be further influenced by government strategies and policies; which if used incorrectly, can serve to fuel and exacerbate downturns. In contrasting form, during an economic recession, government strategies and policies can also be used to aid in exiting such economic turbulence. From an extensive review of literature it became apparent that very little research offered a comprehensive and systematic overview of Irish and UK construction related government policies and strategies adopted during recessions; hence the emergence of this topic. As part of an ongoing research PhD, the purpose of this paper is to collate and group Irish and UK Government strategies and policies adopted for the construction sector during the recession period 2007-2013; resulting in the establishment of a construction industry development framework and a taxonomic framework. The results reveal serious problems with the national strategic plan for the Irish construction industry, given that there is no overseeing body or target dates for implementation of the proposed actions. Furthermore, both countries failed to prioritize the proposed key actions within their strategic plans. The findings of this paper can be applied in the context of the construction sector to address shortcomings in the respective subsectors, while also aiding policy makers and company executives in mapping out future strategic milestones.
AB - Due to the high degree of international and economic integration across the globe, the 2007 global financial crisis quickly spread, causing recessions and widespread credit restrictions in advanced nations. During recessions, economic fluctuations cause dramatic changes to the market structure of industries, in particular, that of the construction sector. These structural changes can be further influenced by government strategies and policies; which if used incorrectly, can serve to fuel and exacerbate downturns. In contrasting form, during an economic recession, government strategies and policies can also be used to aid in exiting such economic turbulence. From an extensive review of literature it became apparent that very little research offered a comprehensive and systematic overview of Irish and UK construction related government policies and strategies adopted during recessions; hence the emergence of this topic. As part of an ongoing research PhD, the purpose of this paper is to collate and group Irish and UK Government strategies and policies adopted for the construction sector during the recession period 2007-2013; resulting in the establishment of a construction industry development framework and a taxonomic framework. The results reveal serious problems with the national strategic plan for the Irish construction industry, given that there is no overseeing body or target dates for implementation of the proposed actions. Furthermore, both countries failed to prioritize the proposed key actions within their strategic plans. The findings of this paper can be applied in the context of the construction sector to address shortcomings in the respective subsectors, while also aiding policy makers and company executives in mapping out future strategic milestones.
KW - Economic development
KW - Government policies
KW - Recession
KW - Taxonomy
UR - http://www.scopus.com/inward/record.url?scp=84911371746&partnerID=8YFLogxK
M3 - Conference contribution
AN - SCOPUS:84911371746
T3 - Proceedings 30th Annual Association of Researchers in Construction Management Conference, ARCOM 2014
SP - 1101
EP - 1110
BT - Proceedings 30th Annual Association of Researchers in Construction Management Conference, ARCOM 2014
A2 - Raiden, A.
A2 - Aboagye-Nimo, E.
PB - Association of Researchers in Construction Management
T2 - 30th Annual Association of Researchers in Construction Management Conference, ARCOM 2014
Y2 - 1 September 2014 through 3 September 2014
ER -