Multi-sectoral value chain in a bilateral general equilibrium

Nakano Satoshi, Nishimura Kazuhiko and Kim Jiyoung

No 691, IDE Discussion Papers from Institute of Developing Economies, Japan External Trade Organization(JETRO)

Abstract: The information and communication technology (ICT) is a key engine of economic growth. In this paper, we examine the impact of ICT innovation using a multifactor constant elasticity of substitution (CES) general equilibrium model. Innovation not only leads to productivity growth and thus influence prices, it also changes output and trade patterns, and welfare. To examine trade values, we construct a bilateral multifactor CES general equilibrium model between Japan and the Republic of Korea using linked input–output tables. We estimate elasticities of substitution and productivity growths of the ICT sectors, to assess the effects of ICT improvement on the two countries.

Keywords: Linked Input–Output Tables; Information and Communications Technology; Tracing Elasticities; South Korea; Japan; Input-output tables; Information technology; Communication (search for similar items in EconPapers)
JEL-codes: C67 D57 D83 F19 (search for similar items in EconPapers)
Date: 2018-02
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Published in IDE Discussion Paper = IDE Discussion Paper, No. 691. 2018-02

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