Post‐tsunami reconstruction in sri lanka: Assessing the economic impact
The “construction output shock” that was generated by the massive reconstruction programmes after the Indian Ocean tsunami in Sri Lanka spread through the economic system and was reflected in economic indicators due to the multiple linkages that the construction industry has with other economic sect...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
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Vilnius Gediminas Technical University
2010-09-01
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| Series: | International Journal of Strategic Property Management |
| Subjects: | |
| Online Access: | https://journals.vgtu.lt/index.php/IJSPM/article/view/5729 |
| _version_ | 1818778560481984512 |
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| author | Les Ruddock Dilanthi Amaratunga Nadeeshani Wanigaratne Roshani Palliyaguru |
| author_facet | Les Ruddock Dilanthi Amaratunga Nadeeshani Wanigaratne Roshani Palliyaguru |
| author_sort | Les Ruddock |
| collection | DOAJ |
| description | The “construction output shock” that was generated by the massive reconstruction programmes after the Indian Ocean tsunami in Sri Lanka spread through the economic system and was reflected in economic indicators due to the multiple linkages that the construction industry has with other economic sectors. On the ground, it was observed that the prices of construction materials, labour and plant rose suddenly in the affected regions making the reconstruction effort more costly. This paper considers the responses of major economic and construction indicators to the construction shock due to post‐tsunami reconstruction and the amount of time needed before they returned to an equilibrium state. Empirical results indicate that the construction output shock had a significant impact on material, labour and equipment price indices in the short run but other indicators showed only a very marginal response indicating that the remoteness of the disaster would have delayed the propagation.
Santruka
Del didžiuliu atstatymo programu, prasidejusiu Šri Lankoje po cunamio Indijos vandenyne, atsirades statybu šokas apeme ekonomine sistema ir padare poveiki ekonominiams rodikliams, nes statybos pramone turi daugybe sasaju su kitais ūkio sektoriais. Pastebeta, kad nukentejusiuose regionuose statybiniu medžiagu, darbo ir irangos kainos staiga išaugo, o atstatomoji veikla pabrango. Šiame straipsnyje nagrinejama, kaip pagrindiniai ekonominiai ir statybos rodikliai reaguoja i statybu šoka, patirta del atstatomuju darbu po cunamio, kiek laiko reikia, kad rodikliai grižtu i pusiausvyros būkle. Iš empiriniu rezultatu matyti, kad trumpuoju laikotarpiu statybu apimties šokas gerokai paveike medžiagu, darbo ir irangos kainu rodiklius, bet kiti rodikliai kito labai nedaug, vadinasi, nelaimes atokumo atveju rodikliu sklaida būtu buvusi sulaikyta.
First Published Online: 09 Jun 2011 |
| first_indexed | 2024-12-18T11:46:40Z |
| format | Article |
| id | doaj.art-34ed0bf716fc4132a40c51ff59de3ff5 |
| institution | Directory Open Access Journal |
| issn | 1648-715X 1648-9179 |
| language | English |
| last_indexed | 2024-12-18T11:46:40Z |
| publishDate | 2010-09-01 |
| publisher | Vilnius Gediminas Technical University |
| record_format | Article |
| series | International Journal of Strategic Property Management |
| spelling | doaj.art-34ed0bf716fc4132a40c51ff59de3ff52022-12-21T21:09:15ZengVilnius Gediminas Technical UniversityInternational Journal of Strategic Property Management1648-715X1648-91792010-09-0114310.3846/ijspm.2010.16Post‐tsunami reconstruction in sri lanka: Assessing the economic impactLes Ruddock0Dilanthi Amaratunga1Nadeeshani Wanigaratne2Roshani Palliyaguru3School of the Built Environment, University of Salford, Salford, Greater Manchester M5 4WT, UKSchool of the Built Environment, University of Salford, Salford, Greater Manchester M5 4WT, UKHalcrow International Partnership, Sharjah, UAESchool of the Built Environment, University of Salford, Salford, Greater Manchester M5 4WT, UKThe “construction output shock” that was generated by the massive reconstruction programmes after the Indian Ocean tsunami in Sri Lanka spread through the economic system and was reflected in economic indicators due to the multiple linkages that the construction industry has with other economic sectors. On the ground, it was observed that the prices of construction materials, labour and plant rose suddenly in the affected regions making the reconstruction effort more costly. This paper considers the responses of major economic and construction indicators to the construction shock due to post‐tsunami reconstruction and the amount of time needed before they returned to an equilibrium state. Empirical results indicate that the construction output shock had a significant impact on material, labour and equipment price indices in the short run but other indicators showed only a very marginal response indicating that the remoteness of the disaster would have delayed the propagation. Santruka Del didžiuliu atstatymo programu, prasidejusiu Šri Lankoje po cunamio Indijos vandenyne, atsirades statybu šokas apeme ekonomine sistema ir padare poveiki ekonominiams rodikliams, nes statybos pramone turi daugybe sasaju su kitais ūkio sektoriais. Pastebeta, kad nukentejusiuose regionuose statybiniu medžiagu, darbo ir irangos kainos staiga išaugo, o atstatomoji veikla pabrango. Šiame straipsnyje nagrinejama, kaip pagrindiniai ekonominiai ir statybos rodikliai reaguoja i statybu šoka, patirta del atstatomuju darbu po cunamio, kiek laiko reikia, kad rodikliai grižtu i pusiausvyros būkle. Iš empiriniu rezultatu matyti, kad trumpuoju laikotarpiu statybu apimties šokas gerokai paveike medžiagu, darbo ir irangos kainu rodiklius, bet kiti rodikliai kito labai nedaug, vadinasi, nelaimes atokumo atveju rodikliu sklaida būtu buvusi sulaikyta. First Published Online: 09 Jun 2011https://journals.vgtu.lt/index.php/IJSPM/article/view/5729Disaster reconstructionConstruction shocksEconomic indicatorsSri Lanka |
| spellingShingle | Les Ruddock Dilanthi Amaratunga Nadeeshani Wanigaratne Roshani Palliyaguru Post‐tsunami reconstruction in sri lanka: Assessing the economic impact International Journal of Strategic Property Management Disaster reconstruction Construction shocks Economic indicators Sri Lanka |
| title | Post‐tsunami reconstruction in sri lanka: Assessing the economic impact |
| title_full | Post‐tsunami reconstruction in sri lanka: Assessing the economic impact |
| title_fullStr | Post‐tsunami reconstruction in sri lanka: Assessing the economic impact |
| title_full_unstemmed | Post‐tsunami reconstruction in sri lanka: Assessing the economic impact |
| title_short | Post‐tsunami reconstruction in sri lanka: Assessing the economic impact |
| title_sort | post tsunami reconstruction in sri lanka assessing the economic impact |
| topic | Disaster reconstruction Construction shocks Economic indicators Sri Lanka |
| url | https://journals.vgtu.lt/index.php/IJSPM/article/view/5729 |
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