| Abstract [eng] |
The construction sector makes a significant contribution to the national economy: it creates jobs and income for people and changes in the construction sector affect all levels of the country's economy as well as the standard of living of its people. This implies that the construction sector is closely linked to many types of economic activity. This means that any developments in the construction sector have a direct and indirect impact on other sectors and the national economy. The aim of this Master thesis - to assess the impact of Lithuanian economic development on the construction sector development. In order to achieve the aim of the thesis, tasks were formulated: to reveal the problems and relevance of the research on development opportunities in the construction sector; to analyze the scientific literature on the links between the construction sector and the country's economic development; to analyze the macroeconomic factors determining the development of the construction sector; to develop a methodology for studying development opportunities in the construction sector; to analyze the development possibilities of the Lithuanian construction sector. The research of the thesis was carried out based on the indicators of the Lithuanian construction sector and economy in 2000-2018. Correlation and regression analysis methods as well as Granger causality test were used for data analysis. The results of the Granger causality test showed that the development of the Lithuanian construction sector depends on the development of the whole economy of the country. This means that the development of the construction sector is determined by the economic development situation in the country. The results of the regression analysis show that development of the construction sector is influenced not only by the economic development of the country, but also by the quality of natural persons' access to external financial resources, changes in inflation, labor productivity, number of employees and changes in average wages. According to the forecast, the gross value added generated by the Lithuanian construction sector will increase on average by 11% per year in the next two years. |
