Wealth measurement and the role of built asset investment : an empirical comparison

Ruddock, L and Ruddock, S 2019, 'Wealth measurement and the role of built asset investment : an empirical comparison' , Engineering, Construction and Architectural Management, 26 (5) , pp. 766-778.

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Abstract

Purpose
The purpose of this paper is to assess the role of investment in built assets in the achievement of economic growth as part of a wealth measurement approach and to undertake an analysis of the relative importance of such investment as part of a country’s overall capital asset portfolio.
Research Approach
Panel data on capital asset investment are used to compare groups of countries at different stages of development.
Statistical Sources
Data sets on investment and capital levels from the Penn World Tables (PWT) 9.0. Population and GDP data are taken from the same source and the UN Statistics Division. World Bank reports provide data on countries’ income group classification.
Findings
There is confirmation of the view that, as economies grow, a pattern of investment based on developing a different structure of capital asset portfolio occurs. Investment patterns similar to those found in advanced countries arise as low income countries move to higher income classification groups even though built assets remain the most valuable capital asset group.
Value
The study provides time series evidence on the nature of changing capital investment patterns in countries’ economies and demonstrates the value of a wealth measurement approach.

Item Type:	Article
Schools:	Schools > School of the Built Environment
Journal or Publication Title:	Engineering, Construction and Architectural Management
Publisher:	Emerald
ISSN:	0969-9988
Related URLs:	Publisher
Depositing User:	L Ruddock
Date Deposited:	05 Oct 2018 14:41
Last Modified:	04 Jun 2019 09:45
URI:	http://usir.salford.ac.uk/id/eprint/48583

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