Are There Key Sectors? An Appraisal Using Applied General Equilibrium

Manuel Alejandro Cardenete, M. Carmen Lima and Ferran Sancho
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M. Carmen Lima: Universidad Pablo de Olavide

The Review of Regional Studies, 2013, vol. 43, issue 2,3, 111-129

Abstract: An extension of the hypothetical extraction method to a general equilibrium setting is considered. This has the advantage of re-interpreting output changes as efficiency gains or losses, which may be of use in identifying “key” sectors in an interconnected economy. The categorization may be relevant for the evaluation of intersectoral synergies and for improving policy planning and orienting economic strategy. We argue that the standard measures based on gross outputs may not capture all of the relevant impacts and this is so because of some self-imposed modeling and accounting limitations. An economy-wide Computable General Equilibrium (CGE) approach provides a modeling platform that overcomes these limitations since it offers (i) a more comprehensive measure of linkages and (ii) an alternative way of accounting for linkages’ relevance that is in closer accordance with the standard statistical magnitudes used in national or regional accounts.

Keywords: key sectors; hypothetical extraction; applied general equilibrium; economic impulse; sectoral efficiency (search for similar items in EconPapers)
JEL-codes: C63 C68 D58 (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (4)

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