The Impact of COVID-19 on the Financial Structure of the Construction Industry in Turkey

Fatih Bahadır; Fatih Süleyman Balık; Hüseyin Serdar Yalçınkaya

Makale detayları

The Impact of COVID-19 on the Financial Structure of the Construction Industry in Turkey

Yazarlar:

Fatih Bahadır | Fatih Süleyman Balık | Hüseyin Serdar Yalçınkaya

Yayıncı:

Necmettin Erbakan University

Ana Başlıklar:

Yapı İşletmesi

Dergi:

Necmettin Erbakan Üniversitesi Fen ve Mühendislik Bilimleri Dergisi Vol.5 Issue 2, pp.173-188

Belge Tipi:

Makale

Yayın Tarihi:

12/2023

Belge Dili:

Türkçe

Document ID (Org No.):

2001304661

pISSN:

2667-7989

Anahtar kelimeler:

Özet:

 The construction sector has emerged with shelter, which is one of the needs of mankind, and this sector has developed rapidly with the globalization of trade. The construction sector is among the sectors that are affected very quickly as a result of workforce loss and inability to fully meet the housing need due to reasons such as wars, major social events and epidemics. The world economy was seriously affected by the Covid-19 pandemic that broke out in 2019. The construction sector, which acts as a locomotive in our countrys economy, was also affected by the Covid-19 pandemic, and there was a rapid shrinkage in the sector between 2019 and 2022. In this study, it was investigated how the Covid-19 pandemic financially affected the construction sector in Turkey. In order to investigate this effect, the number of people who got sick and died in this pandemic from the Ministry of Health of the Republic of Turkey and the construction sector price index and construction sector cost index data from the Turkish Statistical Institute TUIK were used as the data set. As a method in the study, Vector Auto Regression VAR model for time series and subsequent were used. As a result of these analyses, it was found that the change in the number of people who got sick and died due to the Covid-19 pandemic affected the changes in general construction sales prices and building sales prices. However, it has been determined that the change in the number of people getting sick and dying due to the pandemic does not affect the change in prices of non-building constructions such as highways, streets, bridges, tunnels, railways, airports, ports and other water projects, irrigation systems, sewage systems, industrial facilities and pipelines outside the building sector. In the causality analyses conducted on construction costs, no causality relationship was found between pandemic variables and construction cost items. Accordingly, the pandemic in the construction sector did not affect the construction costs, but affected the sales prices. Depending on the result obtained, while the construction sector did not experience a problem caused by supply during the pandemic process, it faced problems arising from demand.

 The construction sector has emerged with shelter, which is one of the needs of mankind, and this sector has developed rapidly with the globalization of trade. The construction sector is among the sectors that are affected very quickly as a result of workforce loss and inability to fully meet the housing need due to reasons such as wars, major social events and epidemics. The world economy was seriously affected by the Covid-19 pandemic that broke out in 2019. The construction sector, which acts as a locomotive in our countrys economy, was also affected by the Covid-19 pandemic, and there was a rapid shrinkage in the sector between 2019 and 2022. In this study, it was investigated how the Covid-19 pandemic financially affected the construction sector in Turkey. In order to investigate this effect, the number of people who got sick and died in this pandemic from the Ministry of Health of the Republic of Turkey and the construction sector price index and construction sector cost index data from the Turkish Statistical Institute TUIK were used as the data set. As a method in the study, Vector Auto Regression VAR model for time series and subsequent were used. As a result of these analyses, it was found that the change in the number of people who got sick and died due to the Covid-19 pandemic affected the changes in general construction sales prices and building sales prices. However, it has been determined that the change in the number of people getting sick and dying due to the pandemic does not affect the change in prices of non-building constructions such as highways, streets, bridges, tunnels, railways, airports, ports and other water projects, irrigation systems, sewage systems, industrial facilities and pipelines outside the building sector. In the causality analyses conducted on construction costs, no causality relationship was found between pandemic variables and construction cost items. Accordingly, the pandemic in the construction sector did not affect the construction costs, but affected the sales prices. Depending on the result obtained, while the construction sector did not experience a problem caused by supply during the pandemic process, it faced problems arising from demand.

 The construction sector has emerged with shelter, which is one of the needs of mankind, and this sector has developed rapidly with the globalization of trade. The construction sector is among the sectors that are affected very quickly as a result of workforce loss and inability to fully meet the housing need due to reasons such as wars, major social events and epidemics. The world economy was seriously affected by the Covid-19 pandemic that broke out in 2019. The construction sector, which acts as a locomotive in our countrys economy, was also affected by the Covid-19 pandemic, and there was a rapid shrinkage in the sector between 2019 and 2022. In this study, it was investigated how the Covid-19 pandemic financially affected the construction sector in Turkey. In order to investigate this effect, the number of people who got sick and died in this pandemic from the Ministry of Health of the Republic of Turkey and the construction sector price index and construction sector cost index data from the Turkish Statistical Institute TUIK were used as the data set. As a method in the study, Vector Auto Regression VAR model for time series and subsequent were used. As a result of these analyses, it was found that the change in the number of people who got sick and died due to the Covid-19 pandemic affected the changes in general construction sales prices and building sales prices. However, it has been determined that the change in the number of people getting sick and dying due to the pandemic does not affect the change in prices of non-building constructions such as highways, streets, bridges, tunnels, railways, airports, ports and other water projects, irrigation systems, sewage systems, industrial facilities and pipelines outside the building sector. In the causality analyses conducted on construction costs, no causality relationship was found between pandemic variables and construction cost items. Accordingly, the pandemic in the construction sector did not affect the construction costs, but affected the sales prices. Depending on the result obtained, while the construction sector did not experience a problem caused by supply during the pandemic process, it faced problems arising from demand.

 İnsanoğlunun ihtiyaçlarından biri olan barınma ile inşaat sektörü ortaya çıkmış ve bu sektör, ticaretin globalleşmesiyle hızlı bir şekilde gelişme göstermiştir. İnşaat sektörü, savaşlar, büyük toplumsal olaylar ve salgın hastalıklar gibi nedenlerden dolayı, işgücü kaybı ve barınma ihtiyacının tam olarak karşılanamaması sonucunda çok çabuk etkilenen sektörler arasında yer almaktadır. 2019 yılında baş gösteren Covid-19 pandemisinden dünya ekonomisi ciddi etkilenmiştir. Ülkemiz ekonomide lokomotif görevi gören inşaat sektörü de Covid-19 pandemisinden etkilenmiş ve sektörde 2019-2022 yılları arasında hızlı bir küçülme söz konusu olmuştur. Hazırlanan bu çalışmada, Covid-19 pandemisinin Türkiyedeki inşaat sektörünü finansal olarak nasıl etkilendiği araştırılmıştır. Bu etkiyi araştırmak için, veri seti olarak T.C. Sağlık Bakanlığından bu pandemide hastalanan ve ölen kişi sayısı, Türkiye İstatistik Kurumu TÜİKden ise inşaat sektörü fiyat endeksi ve inşaat sektörü maliyet endeksi verileri kullanılmıştır. Çalışmada metot olarak, zaman serisi için Vektör Otoregresyon VAR modeli ve devamında GRANGER nedensellik analizi yapılmıştır. Bu analizler sonucunda, Covid-19 pandemisine bağlı hastalanan ve ölen kişi sayısındaki değişimin genel inşaat satış fiyatlarının ve bina satış fiyatlarının değişimlerine etki ettiği bulunmuştur. Fakat pandemiye bağlı hastalanan ve ölen kişi sayılarındaki değişimin konut sektörü dışında otoyollar, caddeler, köprüler, tüneller, demir yolları, havaalanları, limanlar ve diğer su projeleri, sulama sistemleri, kanalizasyon sistemleri, sanayi tesisleri, boru hatları gibi bina dışı inşaat fiyatlarının değişimine etki etmediği tespit edilmiştir. İnşaat maliyetleri üzerinde yapılan nedensellik analizlerinde ise pandemi değişkenleri ve inşaat maliyet kalemleri arasında herhangi bir nedensellik ilişkisine rastlanılmamıştır. Buna bağlı olarak inşaat sektöründe pandemi inşaat maliyetlerini etkilemezken satış fiyatlarını etkilemiştir. Elde edilen sonuca bağlı olarak pandemi sürecinde inşaat sektörü arzdan kaynaklanan bir sorun yaşamazken, talepten kaynaklanan sorunlarla karşı karşıya kalmıştır.

Makale detayları

The Impact of COVID-19 on the Financial Structure of the Construction Industry in Turkey

Yazarlar:

Fatih Bahadır | Fatih Süleyman Balık | Hüseyin Serdar Yalçınkaya

Yayıncı:

Necmettin Erbakan University

Ana Başlıklar:

Yapı İşletmesi

Dergi:

Necmettin Erbakan Üniversitesi Fen ve Mühendislik Bilimleri Dergisi Vol.5 Issue 2, pp.173-188

Belge Tipi:

Makale

Yayın Tarihi:

12/2023

Belge Dili:

Türkçe

Document ID (Org No.):

2001304661

pISSN:

2667-7989

Shelter

Construction sector

Covid-19 pandemic

Granger causality analysis

Financial affectBarınma

İnşaat sektörü

Covid-19 pandemisi

Granger nedensellik analizi

Finansal etki

Sayı

Makale detayları

Yazarlar: Fatih Bahadır | Fatih Süleyman Balık | Hüseyin Serdar Yalçınkaya

Yayıncı: Necmettin Erbakan University

Ana Başlıklar: Yapı İşletmesi

Dergi: Necmettin Erbakan Üniversitesi Fen ve Mühendislik Bilimleri Dergisi Vol.5 Issue 2, pp.173-188

Belge Tipi: Makale

Yayın Tarihi: 12/2023

Belge Dili: Türkçe

Document ID (Org No.): 2001304661

pISSN: 2667-7989

Sayı

Yazarlar:

Fatih Bahadır | Fatih Süleyman Balık | Hüseyin Serdar Yalçınkaya

Yayıncı:

Necmettin Erbakan University

Ana Başlıklar:

Yapı İşletmesi

Dergi:

Necmettin Erbakan Üniversitesi Fen ve Mühendislik Bilimleri Dergisi Vol.5 Issue 2, pp.173-188

Belge Tipi:

Makale

Yayın Tarihi:

12/2023

Belge Dili:

Türkçe

Document ID (Org No.):

2001304661

pISSN:

2667-7989