International Journal for Construction Marketing
Volume 1, Issue 2
The Strategic Responses of Construction Firms to the Asian Financial Crisis in 1997-1998

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L.S. Pheng and L.N. Hua*

*School of Building and Real Estate, National University of Singapore,

Keywords
Financial crisis, Asia, behaviour of firms, strategies, marketing

ABSTRACT

The Asian financial crisis snowballed in July 1997 following the devaluation of the Thai Baht. This triggered off a chain reaction, which led to similar crises in many countries in Asia, including Singapore. Like many other economic sectors, the construction industry is not spared from the effects of this financial crisis. The findings from the fieldwork conducted in this study reinforced existing management theories that explain the behaviour and strategic responses of construction firms in an economic downturn.

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International Journal of Construction Marketing
ISSN 1463-7189 (web)
ISSN 1463-770 (hardcopy)
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