Modernization of Chinese Input-Output Structure

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The main results of our research in this term consist of four contents. One, the estimation of the purchasing power of parities by industry between Japan and China and between Japan and Republic of Korea, and by using, them the conversion of Input-Output Tables of China and Republic of 'Korea into Japanese prices. Two, by using these input-output tables, the comparison of energy consumption efficiency between China and Japan, the decomposition of sectoral price differences between Japan and China and between Japan and Republic of Korea, and the analysis of productivity growth by industry in China. In the analysis of energy consumption efficiency, we carried out the simulation of the amount of energies required in China in the case it uses the energy-saving technology of Japan. In the analysis of price differences between Japan and China and between Japan and Republic of Korea, we decomposed them into productivity effect, input price effect and profit effect. In the analysis of productivity growth in China, we measured total factor productivity growth by industry for the two periods 1987-92 and 1992-97. Three, the study on the accuracy of Chinese GDP data. Prof.Rawski asserts Chinese GDP data and economic growth rate are overstated and unreliable. But on our analysis, though Chinese GDP data have some problems, they are becoming better, and Prof.Rawski's opinion is not correct. Four, we introduced GTAP model which is the globally highly regarded CGE model and as its application we analyzed the economic effects of free trade agreement among China, Korea and Japan.