International Conference on Economic Structures 2022

ICES 2022
Pan Pacific Association of Input-Output Studies(PAPAIOS)

18-19 March, 201919-20 March 2022
Hotel Plumm Yokohama(Address: 2-9-1 Kita-saiwai, Nishi-ku, Yokohama, Kanagawa, 220-0004, JAPAN)

The 6th International Conference on Economic Structures at Hotel
Plumm Yokohama
19 March, 2022
Venue A (Etincelle)

Venue B (Verre)

Venue C (Reine)

9:30-9:50

Opening Session

10:00-12:00

Regional IO
Analysis
Special Lecture

Other Topics

Macroeconomic
Modeling and CGE

Regional IO
Analysis and Other
Topics(14:00-16:00)

Environment,
Resource andEnergyInt’l Economy andInt’l Development
and Productivity

Venue A (Etincelle)

Venue B (Verre)

Venue C (Reine)

Regional IO
Analysis
Regional IO
Analysis

Int’l Economy andInt’l Development
Environment,
Resource andEnergyEnvironment,
Resource andEnergyTheory of IO
Techniques

13:00-13:40
14:00-16:40

20 March, 2022

10:00-12:00
13:00-14:20

14:20-15:40

Int’l Economy andInt’l Development

Supported by Yokohama Convention & Visitors Bureau.
Also supported by YOKOHAMA National University.

1Floor Map
Hotel Plumn 4th Floor

2

Day 1 Events
Venue A
(Etincelle)

Saturday, 19 March 9:30-9:50
Opening Session
Chair:

Mikio Suga

Speaker Takashi Yagi

( Hosei University)( Meiji University)(President of PAPAIOS)
Yokohama
Speaker Yuichi Hasebe( National)

University(Head of ICES 2022 Local Comittee)

Venue A
(Etincelle)

Saturday, 19 March 10:00-12:00
Regional Input-Output Analysis

Kyoto1Chair:####

Title

Nobuhiro Okamoto(

Daito Bunka
University)

Household Carbon Inequality in Vietnam: An
Input-Output Analysis
Graduate
School of

ID 0 Author

Duy Dang( Economics,)

WasedaUniversity
Coauthor1

Yasushi Kondo(

WasedaUniversity)

Greenhouse gas emissions and value added
Title

in Kenyan industry induced by foreign final
demand: An input-output approach

AuthorID 0

Coauthor1

Benson Senelwa Igesa(

Yasushi Kondo

(

####

3

Wasedauniversity
WasedaUniversity))

Day 1 Events
Title

Myanmar’s Economic Structure during the*Transition Period
Graduate

AuthorEi Ei Thein(

School,Ritsumeikan)

University
Coauthor1

Kazuo Inaba(

Ritsumeikan
University

)

ID 0

Venue B
(Verre)Saturday, 19 March 10:00-12:00
Other Topics

Kyoto1Chair:

Mikio Suga

( Hosei University)

A Consideration on Analyzing the Economic
####

Title

Damage of Cyber Attacks Based on the*

Input-Output Model
Institute of
ID 0 Author

Akiyoshi Kokaji( Information)

Security
Coauthor1

Institute ofAtsuhiro Goto

( Information)

security
International Financial Input-output Tables for

Title

Trans-Pacific Area as well as Japan, US and*Euro-area
AuthorJiyoung Kim(

Okayama
University)

Statistics
ID 0

Coauthor1

Bureau, Ministry
Satoru Hagino( of Internal Affairs )andCommunications

####

4

Day 1 Events
Distributional Structure of Japanese
Title

Economy: A Multiplier Analysis Using Social
Accounting Matrix
Former visiting
scholar at

AuthorTsutomu Yoshioka( SOAS,)

University of
LondonVenue C
(Reine)Saturday, 19 March 10:00-12:00
Macroeconomic Modeling and CGE

Kyoto1Chair:####

Title

ID 0 Author

Takashi Yagi

( Meiji University)

Effects of Public Spending on the Agricultural*

Sector of Burkina Faso
Christian Otchia(

NagoyaUniversity)

A Study on the Structure of International
Title

Financial Markets-From the perspective of
the International Portfolio Investment
Network

AuthorID 0

Coauthor1

Katsushi Tabata( Aichi University

Tatsuya Torikoshi(

Kurumeuniversity

)
)

####
Developing Long-Term Baselines for a
Title

Global CGE Model with 47 Prefectures inJapan

AuthorKen Itakura

(

ID 0

5

Nagoya City
University)

Day 1 Events
Venue A
(Etincelle)

Saturday, 19 March 13:00-13:40
Special Lecture

Kyoto1Chair:

Yoshifumi Ishikawa(

NanzanUniversity)

Economic spillover effect due to changes in
####

Title

household consumption expenditure during
the declaration of a state of emergency

ID 0 Author

Mikio Suga

( Hosei University)

Venue A
(Etincelle)

Saturday, 19 March 14:00-16:00
Regional Input-Output Analysis andOther Topics

Kyoto1Chair:

Yoshifumi Ishikawa(

NanzanUniversity)

Carbon footprints of household consumption
Title

under the background of low marriage rate in
47 prefectures of Japan by income level
Graduate

AuthorYuzhuo Huang(

School,Nagasaki)

University
ID 0

Coauthor1
Coauthor2

Kenichi Matsumoto( Toyo University

Yosuke Shigetomi(

Nagasaki
University

)
)

####
Disparities and Determinants of
Title

Reproductive Health Services: Evidence
from the Districts (118) of Pakistan

AuthorAiza Sarwar(

6

NagoyaUniversity)

Day 1 Events
Identification of leading industries in the
Title

growth of Bangladesh & other South Asian
LIDCs: A novel Structural Decomposition
approach using Input-Output tables.

AuthorCoauthor1

Muhammad Tashfiq Huq(

Masaru Ichihashi(

Hiroshima
University
Hiroshima
University)

Venue B
(Verre)Saturday, 19 March 14:00-16:40
Environment, Resource and Energy

Kyoto1Chair:
####

)

Title

Kiyoshi Fujikawa(

Aichi Gakuin
University)

Carbon footprint of cities based on microconsumption data
Research

ID 0 Author

Keiichiro Kanemoto(

Institute for
Humanity and)NatureResearch
Coauthor1

Jemyung Lee(

Institute for
Humanity and)Nature####Coauthor2

Title
AuthorID 0

Coauthor1
Coauthor2

Shigetomi Yosuke(

University)

Input-Output Analysis Extended in Virtual
Power Plant BusinessYiyi Ju(

Ayu Washizu(

Akira Yoshida(####
Trade impact on sustainable
Title

Nagasakidecarbonization: the global value chain
analysis of Asian developing economies

7

WasedaUniversity
WasedaUniversity
WasedaUniversity)))

Day 1 Events
AuthorCoauthor1

KyushuShuning Chen(

Masaru Kagatsume( Kyoto University

University))

Integrated Assessment of Environmental,
Title

Economic, and Social Impacts of Waste
Plastic Recycling in Japan

AuthorCoauthor1

Baixin Li(

Yasushi Kondo(

WasedaUniversity
WasedaUniversity))

Venue C
(Reine)Saturday, 19 March 14:00-16:40
International Economy andInternational Development andProductivity

Kyoto1Chair:

Nobuki Sugita(

Ritsumeikan
University)

Investment and Saving Behavior of the
####

Title

Migrant Household across the Distribution ofMigration Duration
Graduate

ID 0 Author

Md. Azad Uddin(

School,Hiroshima)

University
Coauthor1

Masaru Ichihashi(

Hiroshima
University)

Data disclosure as source of financial
Title

development in the long-run: Evidence froma panel of countries

AuthorReynaldo Senra()

Comparative advantage development
Title

strategy and labour productivity growth:
Evidence from the Sub-Sahara African
sector level8*Day 1 Events
AuthorKouakou Jean Fidele SIE(

NagoyaUniversity)

Technology Transfer and Productivity:
Title

Propensity Score Matching Analyses of*Firms in Thailand
Author

Utumporn Jitsutthiphakorn( Bank of Thailand )9Day2 Events
Venue A
(Etincelle)

Sunday, 20 March 10:00-12:00
Regional Input-Output Analysis

Kyoto1Chair:####

Title

Mitsuo Yamada( Chukyo University)

The Damage and Reconstruction of The*

Kumamoto Earthquake
The General
Incorporated

ID 0 Author

Kenta Takeda( Association Institute)for Policy and
Sciences
Coauthor1

Title
AuthorKazuo Inaba(

Ritsumeikan
University)

Effect of future consumption changes on the*municipal economy in a depopulating society
Mitsuo Yamada( Chukyo University

)

####
Title
AuthorCoauthor1

Analysis of inter-regional industrial relations of*major industries in Sejong City
Seongha Lee(

Taku Ishiro(

Sunday, 20 March 10:00-12:00
International Economy and
Kyoto1
International Development
Chair:####

Title

ID 0 Author

Masaaki Kuboniwa

Yokohama National
University
Yokohama National
University))

Venue B (Verre)(

Hitotsubashi
University)

FDI and Economic Growth in Indonesia: A*

Provincial and Sectoral Analysis
Al Muizzuddin Fazaalloh(

10

Graduate School,
Nagoya University)

Day2 Events
A Comparative Analysis of Domestic andTitle

Foreign Value-Added with special reference tothe case across the EU and Russia

Author

Masaaki Kuboniwa(

Hitotsubashi
University)####
Remittances and Formal Entrepreneurship
Title

Development: The Role of Local Financial*

Development
AuthorCoauthor1
Coauthor2

Usman Alhassan(

Jean-Claude Maswana(

Kazuo Inaba(

Sunday, 20 March 10:00-12:00

Ritsumeikan
University
Ritsumeikan
University
Ritsumeikan
University)))

Venue C (Reine)

Theory of Input-Output Techniques

Kyoto1Chair:

Yasushi Kondo( Waseda University)

The Compilation and Analysis of the 2015
####

Title

Input-output Table of Kyoto Prefecture for the
Cultural Industry
Graduate School,

ID 0 Author

Heming Zhang( Yokohama National)

University,
Coauthor1

Taku Ishiro(

Yokohama National
University)

Improving the Uncertainty Analysis of InputTitle

output Models by Considering the Correlation
between Input Coefficients

AuthorID 0

Coauthor1

Graduate School,

Jian Jin(

Yasushi Kondo( Waseda University

11

Waseda University))

Day2 Events
Update of OECD TiVA Indicators andTitle

Usefulness of Extended Input-output Table
incorporating firm heterogeneity
Statistics Bureau,

Author

Satoru Hagino(

Ministry of Internal
Affairs and)Communications

Venue A
(Etincelle)

Sunday, 20 March 13:00-14:20
Regional Input-Output Analysis

Kyoto1Chair:

Mitsuo Yamada( Chukyo University)

The Creation of the Marine-Industry-detailed
####

Title

Input-Output Table: Shimizu-Ward, ShizuokaPrefecture, Japan as case study.

ID 0 Author

Hajime Tanaka(

The University of
Tokyo

)

Promotion andCoauthor1

Shunsaku Konishi(

Research Institutefor Ocean)Economics
Interregional Network Linkage Effects by the
Title

Liberalization of Agricultural and Food Product*

Import in Japan
AuthorKiyotaka Ishikawa(

Sunday, 20 March 13:00-14:20

Tokyo

)

Venue B (Verre)

Environment, Resource and Energy

Kyoto1Chair:####The University of

Title

ID 0 Author
Coauthor1

Makiko Tsukui(

Tokyo International
University)

Material Footprint of Sector Groups based on
Input-Output Analysis
Yasushi Kondo( Waseda University)

Xu Han( Waseda University)12

Day2 Events
Measuring the waste footprint of Chinese
Title

trading partners: a multi-regional waste inputoutput approach

AuthorMakiko Tsukui(

Tokyo International
University)

Venue A
(Etincelle)

Sunday, 20 March 14:20-15:40
International Economy andInternational Development

Kyoto1Chair:

Taku Ishiro(

Yokohama National
University)

Does learning by banking, fintech penetration,
####

Title

and financial inclusion explain financial*

development in emerging and developing
economies? A cross country analysis

ID 0 Author

Title
Author

Joseph Aduba(

University)

A Dynamic Theory of the Feldstein?Horioka
Puzzle and Financial Frictions
Harutaka Takahashi(

Sunday, 20 March 14:20-15:40

Graduate School,
Kobe University)

Venue B (Verre)

Environment, Resource and Energy

Kyoto1Chair:####

Ritsumeikan

Title

ID 0 Author

Keiji Ujikawa(

Yokohama National
University)

Detecting air pollution clusters in Japan: A
spatial analysis approach
Alvaro Dominguez(

Asian Growth
Research Institute)Learning Curve on Solar PV: Policy
Title

Implications in Different Regions and Country
Classes

AuthorSaiful Arefeen(

13

Ritsumeikan
University)

Day2 Events
ID 0

Coauthor1

Koji Shimada(

14

Ritsumeikan
University)

Abstract
Abstract
Saturday, 19 March 10:00-12:00 (Venue A (Etincelle))
Regional Input-Output Analysis
Chair：Nobuhiro Okamoto (Daito Bunka University)
Duy Dang (Graduate School, Waseda University), Yasushi Kondo (Waseda
University)
Household Carbon Inequality in Vietnam: An Input-Output Analysis
Household consumption plays a significant role in the national carbon emission.
Understanding carbon footprint (CF) distribution among household groups is vital indesigning effective policies that tackle climate change. Although small developing
economies, such as Vietnam are contributing more and more to global carbon emissions,very few studies on household CF are available for such countries. To the best of ourknowledge, this is the first attempt to track down the CF of household groups at different
income levels, locations and types (agricultural and non-agricultural) in Vietnam. We aim toanswer the question of how much CF differs between household groups, and what factors
can explain these differences. Applying an input-output model to the 2012 Vietnamese
national input-output table (VN NIOT), we found a very high inequality in carbon distribution
among household groups, with a more severe situation in urban areas than in rural areas.
The richest 20% of the urban population generated as much carbon emissions as theremaining 80%. Further investigation, using Structural Decomposition Analysis, showed thatthe difference in CF among Vietnam’s household groups was mainly due to the difference in
consumption volume. Household size and consumption patterns had a relatively small
impact on household CF. This study also proposes an approach that combine informationfrom VN NIOT with information from EXIOBASE. This approach can take advantage of themost recent information from VN NIOT, and accounts for the carbon emission embodied inimported products, without building a new Multi-Regional Input-Output table (MRIOT).

Benson Senelwa Igesa (Waseda university ), Yasushi Kondo (Waseda University )Greenhouse gas emissions and value added in Kenyan industry induced by foreign
final demand: An input-output approach
Global multiregional input-output (MRIO) models have been ubiquitously applied toquantitatively analyze the relationships between consuming and producing countries. A
typical such relationship is where developed countries’ consumption causes environmental

15

Abstractburdens such as greenhouse gas (GHG) emissions and resource extraction in developing
countries. Using the 2015 full Eora MRIO table, this paper assesses how GHG emissions
and value added (VA) in the Kenyan industrial sector are induced by other countries’
demands. The results show that over 80% of Kenyan total GHGs emissions and VA are
induced by domestic final demand. The “Transport” and “Building and Construction”
industries are the biggest contributors to GHG emissions in Kenya, whereas the highest VAcontributing industries are “Other services” and “Health”. The top developed countries
contributing to agriculture-related emissions and VA include the US, UK, and Germany.
These three countries account for over 20% of GHG emissions and VA in Kenyan
agriculture; the most affected industries include “Cut flowers” and “Vegetables” for the UK
and Germany and the “Tea” industry for the US. Contrastingly, developing countries impact
the secondary industries, especially “Metals and Machinery” and “Non-metallic manufacture”
as well as tertiary industries including “Trade”. The East Africa region, mainly Uganda andTanzania, dominates GHG emissions at 25% and make a 20% VA contribution to Kenyan
industries. High-income countries and the East African countries primarily drive Kenyan
primary and secondary industries. Overall, the countries mentioned are substantially andcomparably responsible for GHG emission and VA in Kenya.

Ei Ei Thein (Graduate School, Ritsumeikan University), Kazuo Inaba (Ritsumeikan
University)
Myanmar’s Economic Structure during the Transition Period
After starting the political and economic reform in 2011, Myanmar’s economy turned to adeveloping status with over 7% sustainable GDP growth per year. The main objective of thisstudy is to examine the basic economic structure of Myanmar in comparison to other ASEAN
countries, and sectoral expansion during the economic reformation in Myanmar between
2010 and 2015. The data for the analyses are taken from the EORA global database andAsian Development Bank’s database. The shares of imports and exports in gross productionof Myanmar are very low (around 1% export and 4% import). Production expansion highly
relies on the domestic market. Petroleum, chemical and non-metallic mineral products
show high forward linkages. On the other hand, the backward linkages are high in transport
equipment sector. Gross production expansion of Myanmar was 1.78 times, the highest
growth record among the selected countries during 2010-2015.
Analysis of sectoral
deviations from proportional growth (DPGs) shows that public administration andconstruction mainly contribute to the production growth of Myanmar. Consumption,
investment, imports and exports had a positive effect while technology change has anegative effect on the production growth. Investment has a major contributor to the economic
growth of Myanmar. Despite high economic growth, the Myanmar’s economic structure does16

Abstract
not show remarkable change within five years. Keywords: Economic structure, Sectoral
expansion, Forward linkages, Backward linkages, Deviations from proportional growthSaturday, 19 March 10:00-12:00 (Venue B (Verre))
Other Topics
Chair: Mikio Suga (Hosei University)
Akiyoshi Kokaji (Institute of Information Security), Atsuhiro Goto (Insutitute ofInformation security)
A Consideration on Analyzing the Economic Damage of Cyber Attacks Based on the
Input-Output Model
According to the Center for Strategic and International Studies (CSIS) in the United States,
global economic losses from cyber attacks in 2020 are estimated to be about 1% of global
GDP, totaling over 1 trillion US dollars. On the other hand, the analysis of economic
damage caused by cyber attacks in Japan mainly targets the damage of the attacked
companies, and the damage that spreads to other companies, industries, and the wholecountry is not sufficiently analyzed. In this paper, we analyze the amount of economic
damage to the entire country due to cyber attacks in Japan by using the input-output model.
The purpose is to contribute to improving the accuracy of damage prediction and various
national measures by devising a model for estimating the amount of damage to the entire
country caused by cyber attacks using the input-output table.
Specifically, we firstestimate the annual damage amount by industry based on cyber incident data. Next, byusing the input-output model, we devise a model that estimates the amount of damage tothe entire country, taking into account the resistance to cyber attacks for each industry. And
we estimate the damage amount of the whole country. In addition, we compare it withexisting well-known overseas guesses, verify this model, and consider the estimating
method.

Jiyoung Kim (Okayama University), Satoru Hagino (Statistics Bureau, Ministry ofInternal Affairs and Communications)International Financial Input-output Tables for Trans-Pacific Area as well as Japan,
US and Euro-area
We discuss the development of international flow of funds accounts; it compiles and17

Abstract
analyzes such accounts with a focus on the global financial crisis. Briefly reviewing the world
economy of recent years reveals that a savings glut has caused public debt problems indeveloped economies. On the other hand, a lack of investment has undermined economic
growth in underdeveloped countries. Discrepancies among the financial systems ofdeveloped and developing countries hinder the global redistribution of funds. Both financial
and real sectors should be considered in analyzing the global economy. Financialtransactions and trades are two sides of the same coin. Financial transactions among theentities of multiple countries make up the global financial market, whereas international tradereflects the real economy. As is well known, international input?output tables that measure
the real sector have been developed. However, statistics for international financial relations
remain undeveloped. This research considers the possibility and relevance of compilingglobal FFAs, particularly extending the compilation to international “from-whom-to-whom”
financial stock tables for Japan, Korea, the United States, and China. We combined thesetables to generate a four-country international from-whom-to-whom financial stock table.
Input?output analyses reveal that nonfinancial corporations in the four countries have thelargest liability power-of-dispersion and that the Japanese government’s liability power-ofdispersion is large. In contrast, the financial institution sector in Japan has the largest asset
power-of-dispersion. In the future, the table could be expanded to include other major
Asia?Pacific countries and linked to Euro-area from-whom-to-whom financial stock tables toprovide a global from-whom-to-whom financial stock table.

Tsutomu Yoshioka (Former visiting scholar at SOAS, University of London)
Distributional Structure of Japanese Economy: A Multiplier Analysis Using Social
Accounting Matrix
The aim of this study is to analyse influences of redistribution of income on Japanese
economy. For this purpose, we estimate social accounting matrix (SAM) of Japan and adopt
a multiplier analysis that Roland-Holst and Sancho (1992) put forward. An analysis ofredistributional effects requires analytical tools that can show distributional structure between
sectors or economic agents. SAM satisfies this requirement. It shows the flow of intermediate
goods between industries, the flow of value added between sectors, and the flow of demand.
We can understand to which sectors the value added is distributed by using SAM. The SAM
in this study is estimated by using input?output table and SNA data published by theJapanese government. The multiplier analysis put forward by Roland-Holst and Sancho(1992) enables us to analyse influences of changes in demand on distribution of income. An
increase in the demand in a sector creates new value added. The new value added is
distributed not only to the sector whose demand increases but also to other sectors throughinput-output relations between industries. The multiplier analysis can estimate how much

18

Abstractchanges in the demand influence the distributional structure. This study applies the multiplieranalysis to SAM of Japan and investigates the distributional structure of Japanese economy.

Saturday, 19 March 10:00-12:00 (Venue C (Reine))
Macroeconomic Modeling and CGE
Chair: Takashi Yagi (Meiji University)
Christian Otchia (Nagoya University)
Effects of Public Spending on the Agricultural Sector of Burkina Faso
Rural development has been viewed by many as a key for reducing poverty and achieving
sustainable economic growth. In light of this, the government of Burkina Faso has
implemented a number of agriculture development plans since 2000 alone. A Rural
Development Strategy was adopted by the government of Burkina Faso in 2003 andimplemented in two phases. In the 2003-2010 period, it was operationalized at project andsub-sectoral program levels, while it was executed through the development andimplementation of the Rural Sector National Program (PNSR) during the period 2011-2015.
The country developed a PNSR II that run through 2019/20. This program incorporated
budget plans for a number of agriculture allied ministries, with corresponding sub-sectoral
targets. This study evaluates whether the agricultural sector budget program under PNSR II
will enable Burkina Faso achieve selected sectoral targets. While we observe that the planed
budget figure will have positive impacts on the economy, this will be accompanied by mixed
degrees of success vis-a-vis the targets set. It is likely that the agricultural value-added
growth and average income from forestry and fauna activities targets are achievable.
However, the country will miss out the cereal production growth, export from the livestock
sector, and value-added income from fisheries targets unless the government scales-up its
spending to the respective ministries, directed systematically to activities closely linked to therespective targets and/or the efficiency of public service provision improves. We also provide
an estimate of budget gaps in achieving some of these targets.

Katsushi Tabata (Aichi University), Tatsuya Torikoshi (Kurume university)
A Study on the Structure of International Financial Markets-From the perspective of
the International Portfolio Investment Network Do the international financial center
contributes to the economic growth?

19Abstract
In recent years, the leading role of cross-border financial transactions in each country has
shifted from "other investments" consisting of bank loans, etc., to "direct investments" and"portfolio investments". This paper focuses on the shift from other investment to portfolio
investments and attempts to clarify the impact of this shift on international financial markets
from both theoretical and empirical perspectives. Due to data limitations on otherinvestments, we used data on cross-border bank claims as a substitute. On the empiricalside, the network analysis revealed that the structure of the international financial market
formed by portfolio investments differs significantly from that of the international financial
market formed by "bank claims" in two respects. First, the international financial market
formed by bank claims has a dual structure of core and periphery, or "duality of international
finance", whereas the international financial market formed by portfolio investments has an
unclear duality of international finance. Second, the international financial market formed bybank claims does not have a high degree of "U.S. centrality", while the international financial
market formed by portfolio investments has a high degree of U.S. centrality. On thetheoretical side, we attempted to clarify why the structure of the international financial market
formed by portfolio investments and bank claims differs greatly in two aspects by numericalanalysis using an economic theory model. The results suggest that the conditions for the
existence of the duality of international finance may be related to the acceleration of capitalformation, but the centrality of the United States has not been clarified. Our attempt totheorize networks using real data in economics is in its early stages. We hope to establish ascientific approach to understanding changes in the world economy through further
verification.

Ken Itakura (Nagoya City University)
Developing Long-Term Baselines for a Global CGE Model with 47 Prefectures inJapan
We develop a global computable general equilibrium (CGE) model which encompasses 47
prefectures in Japan and foreign economies. We extends the CGE model and database of
Global Trade Analysis Project (GTAP) which does not provide the sub-national details ofJapan. By breaking down the GTAP database for Japan into all 47 prefectures, the extended
CGE model enables us to analyze domestic transactions among prefectures as well asinternational trade. To study policies affecting the nexus between domestic prefectures andforeign economies in our CGE model, we construct long-term baselines spanning for 20112100. A baseline simulation serves as the basis to measure potential economic impacts ofthe policies. Fundamental data inputs constructing the baselines are projections for
demography and economic activities in addition to the CGE database. Long-term projectionsof demography and economy provide alternating scenarios. For example, the United20

Abstract
Nations' World Population Prospects offers different long-term demographic projections,depending on key parameters. Similarly, the International Institute for Applied Systems
Analysis (IIASA) offers the Shared Socioeconomic Pathways (SSP) scenarios for
demography and economy as well as climate change. In this study, we explore different longterm baseline scenarios and the resulting economic structures of all prefectures in Japan aswell as foreign economies. We begin with description of our global CGE model and the
database, and then explanation of long-term projections of demography and economy
follows. Long-term simulation results obtained from alternating baselines are discussed.

Saturday, 19 March 13:00-13:40 (Venue A (Etincelle))
Special Lecture
Chair: Yoshifumi Ishikawa (Nanzan University)
Mikio Suga (Hosei University)
Economic spillover effect due to changes in household consumption expenditureduring the declaration of a state of emergency
The impact of the implementation of emergency measures on household consumption
caused by the epidemic of the COVID-19 might be that transportation expenses havedecreased due to the request of residents to refrain from going out, and education andentertainment expenses due to refraining from events. There are factors such as a decrease
in tourism-related spending, a decrease in dining expenses due to a leave request, an
increase in personal computer-related spending for teleworking, and a shortage of masks.
What kind of economic spillover effect does this bring? It seems that the general public, notjust economic experts, is highly interested in what the impact was on the macroeconomics.
The economic spillover effect of changes in household consumption expenditure due to theimplementation of emergency measures (April-May 2020, January-March 2021, AprilSeptember 2021) is estimated by using 2015 Japanese input output table. Specifically, thehousehold consumption expenditure per household by item from the Ministry of Internal
Affairs and Communications Statistics Bureau ""Household Survey"" was rearranged into
the input-output table sector, and deflated by the consumer price index, and then coverted
from the purchaser price to the producer price, The consumption vector was applied to the
Leontief inverse to calculate the economic spillover effect. This was converted to the unit ofper household member, and the effect on the macro was estimated by multiplying this by theestimated population.

21

Abstract
Saturday, 19 March 14:00-16:00 (Venue A (Etincelle))
Regional Input-Output Analysis and Other Topics
Chair: Yoshifumi Ishikawa (Nanzan University)
Yuzhuo Huang (Graduate School, Nagasaki University), Kenichi Matsumoto (ToyoUniversity), Yosuke Shigetomi (Nagasaki University)
Carbon footprints of household consumption under the background of low marriage
rate in 47 prefectures of Japan by income level
With the continuous increase of household income, household consumption has eventually
become one of the important growth points of Japan's indirect carbon dioxide emissions.
However, the household consumption in each prefecture is based on the consumption
structure under different income groups. Therefore, the carbon footprints of household
consumption and carbon footprint distribution of different income groups in each prefecture
have substantial differences. Under the background of low marriage rate in Japanese society,quantifying carbon inequality in each prefecture through the carbon footprint of single person
and multi person household consumption in different income groups of Japan’s 47
prefectures has become the main research problem. Based on the multi region input output
table of Japan in 2005, this study used environmentally extended input?output approach toquantified household carbon footprints for different income groups of single person and multiperson household of Japan’s 47 prefectures. Moreover, carbon footprint Gini coefficients (CFGini coefficients) of single person and multi person household were calculated to measurecarbon inequality for households across prefectures. We found that in economicallydeveloped prefecture, carbon footprint of multi person household is higher, while the single
person household is lower. Meantime, the more developed the economy, the greater the gap
between the carbon footprints of single person and multi person household. On the whole,
CF Gini coefficients decrease from economically underdeveloped areas to economicallydeveloped areas, and the CF Gini coefficients of multi person household are lower than thatof single person. Moreover, the CF Gini coefficients in economically developed prefectures
are higher in service and non-durable goods expenditure, while the CF Gini coefficients ineconomically underdeveloped prefecture are higher in basic expenditure.

Aiza Sarwar (Nagoya University )Disparities and Determinants of Reproductive Health Services: Evidence from theDistricts (118) of Pakistan

22

Abstract
Although maternal healthcare is provided free of charge in Pakistan via the primary healthcare sector, a significant section of the population does not make appropriate use ofaccessible health services. For example, prenatal care are used by 92 percent of women
aged 15-49 years in Punjab, but just 55.5 percent in Baluchistan. Similarly, the proportion of
Skilled Birth Attendants (SBAs) split by the total number of live births in Punjab is 71 percent,whereas in Baluchistan it is 38.2 percent. Although a series of efforts began in 1990, provide
universal health coverage and the provision of high- quality healthcare services at the districtlevel. Despite these efforts, maternity healthcare access remained limited and inequalities
can be found across the country. Therefore, this study will provide light on several
socioeconomic factors that may contribute to regional inequalities in access to maternal
healthcare services in Pakistan. Therefore, exploratory data analysis used to examine theregional pattern of Reproductive Health Care Services (RHCS) and developmental factors.
To begin, this study examines the relationship between the RHCS index and development
by comparing it to five development indicators. Second, it employs spatial regression toascertain the factors that contribute to the reduction of the access gap to the RHCS. The
findings indicated that geographic pattern of inequality was spatially connected to all
development metrics. Pakistan's western and southern districts were identified as cold spots,
indicating that these areas lacked adequate transportation, healthcare, better housing,
improved toilet facilities, and education. These patterns may assist policymakers andplanners in comprehending the cluster's geographical dimension, which lacked adequate
coverage and resources. The findings are specific to taregt the most vulnerable portion ofsociety. To conclude, poverty reduction, female empowerment, and public infrastructure are
critical components of reducing inequality in access to the RHCS.

Muhammad Tashfiq Huq (Hiroshima University), Masaru Ichihashi (Hiroshima
University)
Identification of leading industries in the growth of Bangladesh & other South Asian
LIDCs: A novel Structural Decomposition approach using Input-Output tables.
Using sectoral level data from input-output tables this study is focused on the structural
decomposition of the total output change in Bangladesh & 5 other South Asian Lower
Income Developing Countries (LIDCs) to identify leading sectors contributing to economic
growth. Our study aims to find most deserving growth sectors for policy support as theresources are scarce in the developing countries like Bangladesh. To capture long term
growth, instead of measuring conventional structural change between two time periods weintroduced a novel decomposition approach which we named Difference in Difference (DID)
decomposition. The acceleration/deceleration part of DID decomposition could indicate
which sectors are growing in the long run. Further decomposing final demand effects of the23Abstract
acceleration part in DID decomposition of countries into Consumption, Investment & Export
shows the main contributing factor behind the growth of these countries.
The
decomposition result shows except Vietnam which mainly depends on export expansion,
economic growth in all other countries including Bangladesh are mainly due to change in
consumption. Vietnam is the only country which has diversified manufacturing sectors as its
leading sectors. Leading sectors in other countries than Vietnam are mainly service sectors
with exception of few manufacturing ones. Food & Construction sectors have been found ascommonly growing sectors in all the countries.

Saturday, 19 March 14:00-16:40 (Venue B (Verre))
Environment, Resource and Energy
Chair: Kiyoshi Fujikawa (Aichi Gakuin University)
Keiichiro Kanemoto (Research Institute for Humanity and Nature), Jemyung Lee(Research Institute for Humanity and Nature), Shigetomi Yosuke (Nagasaki
University)
Carbon footprint of cities based on micro-consumption data
Given that national pledges are likely insufficient to meet Paris greenhouse gas (GHG)
reduction targets, increasingly actors at the city and state level are looking for options on
how local government can contribute to reducing GHG emissions. For a typical city only one
third to half of their carbon footprint (CF) is emitted within the jurisdiction, while the majority
is embodied in goods and services flowing into the city. To support well-informed mitigation
efforts, administrators need robust inventories of both direct emissions as well as the supply
chain emissions. Here we construct household CF inventories for cities in Japan, India, theEuropean Union (EU), and Indonesia using detailed consumer expenditure data fromhundreds of thousands of households and a multi-regional input-output (MRIO) model. Our
city-level CF database includes 1172 cities in Japan, 623 cities in India, 76 cities in the EU,
and 514 cities in Indonesia (see https://city.spatialfootprint.com/). We identify the
consumption activities (food, electricity, gas, other energy, medical care, public transport,
education, consumable goods, durables goods, other services) which city policymakers cantarget to reduce CF. Understanding a city's consumption-based CF of households in addition
to its direct emissions exposes additional policy options for each citizen to contribute toachieving national goals.

24Abstract
Yiyi Ju (Waseda University), Ayu Washizu (Waseda University), Akira Yoshida(Waseda University)
Input-Output Analysis Extended in Virtual Power Plant Business
The more efficient utilization of distributed power resources on the demand side, together
with the improvement in output curtailment of solar power generation, calls for thecommercialization of the Virtual Power Plant (VPP) business. In this study, based on the
result from the latest ""Virtual Power Plant Construction Demonstration Project"" report,
together with the 2015 IONGES table (Input-Output table for the analysis of a Nextgeneration Energy System), we developed an Input-Output table containing the VPPbusiness sector, in order to investigate the impacts when VPP commercialization becomes
full-scale. The sector is simplified as a sector supplying advisory services regarding smart
energy management, where thermal power generation can be replaced by solar power
generation according to demand responses. Based on the table we developed, we further
investigated the impacts of VPP business on CO2 emission reduction (caused by the
replacement of thermal with solar power), on the cost reduction in all sectors (caused by the
cashback from VPP business), as well as on the overall economic activities (induced by theincrease in final consumption due to the cashback from VPP business). Different scenarios
are also designed to investigate the uncertainties on load following, trading amount, and unit
prices along with the full-scale of VPP commercialization.

Shuning Chen (Kyushu University), Masaru Kagatsume (Kyoto University)
Trade impact on sustainable decarbonization: the global value chain analysis of
Asian developing economies
Developing countries meet challenges to meet the decarbonization target when they
promote industry modernization. Especially since these countries are the global value chain
participant in the processing process, trade impact on their national decarbonization
outcomes should be noted. Taking the Asian developing economies as a case study, wedeveloped a relative intersectoral linkage analysis based on the global value chain (GVC)
framework. We investigated CO2 emissions changes during economic structural changes.
The indices of intersectoral linkages and Revealed Comparative Advantage (RCA) havebeen employed to analyze the trade impacts on emissions changes from composition, scale,and technology channels. Although research on pollution heaven evidence in developing
countries has been proved, the discussion of decarbonization in developing countries has
just begun. The results show that emission-intensive sectors as suppliers tended to be
influenced in their forwarding linkage to the local and the global economy under stringent

25

Abstract
local emission reduction policies. Meanwhile, emission intensity depends on downstream
sectors through comprehensive backward linkage. We found that emission concentration in
the local market for avoiding emission leakage leads to increased domestic emission
intensity. The findings suggest that reconstruction of the value chain is necessary forsustainable decarbonization from local to global economies. Keywords: Embodied carbon
emissions; Global value chain; Trade in Value-added; Inter-industry linkage; Revealed
comparative advantage

Baixin Li (Waseda University ), Yasushi Kondo (Waseda University )Integrated Assessment of Environmental, Economic, and Social Impacts of Waste
Plastic Recycling in Japan
Since China’s ban on waste plastic imports in 2017, there has been a growing need for
promotion of domestic treatment and recycling worldwide, particularly in Japan. Export ofwaste plastic or plastic scrap from Japan was halved during the period 2015?2020, from1.61 Tg to 0.821 Tg. Considering this background, in this study, we apply input?output
analysis for integrated assessment of Japanese waste plastic recycling scenarios, wherein
1.61 Tg of waste plastic is not exported but treated or recycled in Japan. The base-casescenario describes incineration without energy recovery and landfill. The other scenarios
include recycling in the ‘Pig iron’ sector via coke oven chemical feedstock conversion,‘Petroleum products’ sector via liquefaction, ‘Chemical fiber ’ sector via mechanicalrecycling, ‘Plastic products’ sector via mechanical recycling, and ‘In-house power generation’sector with energy recovery via RPF (refuse paper and plastic fuel) conversion. When therecycling sector cannot accept a portion of waste plastic due to capacity limitations, that
portion is incinerated without energy recovery or landfilled. For each scenario, we quantified
the environmental, economic, and social indicators (carbon dioxide emissions, income,
employment, and total import). These indicators are used for integrated assessments of the
scenarios. The assessment results show that neither the ‘Petroleum products’ nor ‘Chemical
fiber’ sectors can accept all the waste plastic due to capacity limitations. The ‘Plastic products’
sector performs well considering economic (increasing income) and social perspectives(increasing employment and decreasing the dependence on foreign resources), while the‘Pig iron’ sector achieves the least carbon dioxide emissions among the recycling sectors
fulfilling certain economic and social conditions. The results of this study exemplify theusefulness of input?output analysis for integrated assessment of recycling scenarios without
calculating single aggregated indicators.

26

Abstract
Saturday, 19 March 14:00-16:40 (Venue C (Reine))
International Economy and International Development, and Productivity
Chair: Nobuki Sugita (Ritsumeikan University)
Md. Azad Uddin (Graduate School, Hiroshima University), Masaru Ichihashi(Hiroshima University)
Investment and Saving Behavior of the Migrant Household across the Distribution ofMigration Duration
The life-cycle of a migrant can play an important role in the pattern of remittance based
investment and savings decisions of a migrant household. In order to formulate effective
policy for improving the utilization of remittances, it is important to understand the investment
behavior of the remittance receiving households across the distribution of duration of
migration. However, how the pattern of investment and savings behavior varies across the
distribution of migration duration is not yet explored in the literature. Using a nationally
representative household level survey data namely ""Survey on Investment from
Remittances 2016"" and logistic regression method, the study investigates the pattern ofinvestment and savings behavior varies across the distribution of migration duration. The
pattern of investment may differ across different types of investment. To capture the types ofinvestment, we categorized the investment expenditure of a migrant household into main
five categories: investment in farm, non-farm, housing, land, and loan repayment. We foundthat there is a considerable variation in the pattern of investment across the migration
duration. The estimation results show that as the duration increases, the probability of loan
repayment significantly decreases. The probability of investing in housing is higher at the
beginning of the distribution of migration duration, followed by the land purchase and farminvestment. The results for savings pattern show that the probability of saving at formal
financial institutions (Bank/FI) increases with the duration and the probability of saving at
semi-formal institutions (NGO, Co-operative) decreases with the duration. We further
investigate the investment behavior of the migrant with his entrepreneurship behavior. using
the migrant’s business ownership at destination as the proxy for entrepreneurship, we foundthat the probability for investment in different category is more likely to higher for the migrants
who have long migration duration with business ownership.

Reynaldo Senra
Data disclosure as source of financial development in the long-run: Evidence from apanel of countries

27

Abstract
There are numerous theoretical growth models indicating that information is critical for thewell functioning of the financial markets. However, just few empirical studies investigate thisnexus. Considering this, we investigate the role of data disclosure on financial development.
This topic is important because many governments in the world are releasing statistics as a“goodwill” or a duty. Indeed, some few hide statistics that may reflect their poor performance.
In addition, many other policies that have been considered beneficial for the financial
markets tend to require long time to yield results, may require significant economic resources
and may be risky. In this case we can mention the reform of the financial system and thestrengthen of the institutions. Compared with these policies, data disclosure requires lessresources and may be less complex. We investigate the linkage between statistics diffusionand economic development at aggregated level using methodologies for non-stationary
panel data. We found cointegration and statistics availability was mostly causing financial
development in the long-run. Indeed, a short-run positive causal nexus was identified.
Interestingly, when we used sub-periods to analyze the robustness of our results, we findthat the nexus have had intensified in the recent period. This suggests that statistics haveturned more important for the well functioning of the financial markets. Therefore,
governments attempting to develop the financial markets are better off including the releaseof statistics among the policies and strategies to achieve that goal.
Kouakou Jean Fidele SIE (Nagoya University)
Comparative advantage development strategy and labour productivity growth:
Evidence from the Sub-Sahara African sector level
In the current development era, structural transformation and labour productivity growth haverevived interests across developing countries and Africa in particular. Labour productivity
growth has remained stagnant while structural transformation is yet to be dynamic (mainly
driven by the static gains). While there is an advocacy to explore alternative sources ofgrowth as conventional variables are becoming less relevant in explaining growth, andmainly due to the changing structure of developing economies, the comparative advantage
development strategy remains unexploited as a strong determinant and particularly in thecase of Africa. The comparative advantage development strategy emerges from the New
Structural Economics which argues that economic outcome is endogenously determined by
the country’s long-term economic development strategy and suggested a development
based on comparative advantage following (CAF) instead of the comparative advantage
defying (CAD). However, some critics argue that low-income and resource rich countries will
have a slow upgrading process of their economies if they strictly follow their comparativeadvantage and, argue that defiance of the comparative advantage would yield negative
effects beyond a certain threshold. Therefore, to shed light on whether Sub-Saharan Africa
countries should comply or defy their comparative advantage when designing their industries,

28

Abstract
this paper will, first of all, analyse the different sources of growth by using the decomposition
method of shift-share analysis with a recent dataset of 9 sectors from 1960 till 2017 and theninvestigate the impact of comparative advantage development strategy on sectoral growth
as well as the component of growth (within effects and structural effects).

Utumporn Jitsutthiphakorn (Bank of Thailand)Technology Transfer and Productivity: Propensity Score Matching Analyses of Firms
in Thailand
In the macro-view, many previous studies have established that exporting can increase
productivity through knowledge and technology transfer from foreign buyers. However, themicro-analysis still lacks an impact analysis of technology transfer’s effect on firm productivity
in Thailand. This firm-level study first used the 2016 World Bank Enterprise cross-sector
survey of Thailand to explore the effect of technology transfer on firm productivity. The export
channel was studied to assess the benefits of exporting on firm productivity in Thailand.
This research has related two hypotheses, the first of which concerns the self-selection
hypothesis, exploring the determinants of an exporter’s decision to join the export market.
The second hypothesis, learning by exporting and I investigate whether the firm has learned
from exporting by adopting the propensity score matching model (PSM) to address
heterogeneous firm bias between exporters and non-exporters. The study found thatexporters in Thailand with high productivity, a larger size, extensive experience, and a highshare of foreign ownership were more likely to export. Moreover, after addressing firm
heterogeneity with the propensity score matching model. This study shows that firms alreadyhave high productivity before entering the export market and the effect of technology transfer
through exporting on firm productivity (both in terms of TFP and labor productivity) is weak,
not significantly different from the non-exporter. Therefore, as a policy implication, I highlightthe need for policymakers to design a new export promotion policy to promote productivity.

29

Abstract
Sunday, 20 March 10:00-12:00 (Venue A (Etincelle))
Regional Input-Output Analysis
Chair: Mitsuo Yamada (Chukyo University)
Kenta Takeda (The General Incorporated Association Institute for Policy and
Sciences), Kazuo Inaba (Ritsumeikan University)
The Damage and Reconstruction of The Kumamoto Earthquake
The Kumamoto earthquake which occurred in April 2016, measured twice a maximum
seismic intensity of 7, causing serious damage to center on Kumamoto prefecture. The
amount of stock damage in the prefecture reached approximately 3.8 trillion yen, and theaccompanied flow loss (production decline) due to damage to agriculture, forestry, andfisheries products and the shutdown of factories was estimated to be around 100 billion yen.
Furthermore, decline in demand was caused by the decrease in consumer sentiment among
the affected population on account of evacuation and anxiety about the future, as well as adecline tourist owing to harmful rumor. These supply and demand constraints are expected
to have an indirect impact on both inside and outside the prefecture through the supply chain.
This study mainly focuses on the demand side and analyzes the ripple effects of changes in
expenditures due to the Kumamoto earthquake. We use the multi-regional Input-Output
Table for Kumamoto Prefecture in 2015, which is estimated by a non-survey method basedon existing statistics. The table consists of Kumamoto Prefecture, which is divided into three
regions, and the other parts of Japan, and we reveal the direct and indirect effects of thechanges in demand before and after the earthquake on both in and out of the prefecture.

Mitsuo Yamada (Chukyo University)
Effect of future consumption changes on the municipal economy in a depopulating
society
In a depopulating society, household consumption expenditure will decrease, so production
and added value will decline. In 2021ICES, in order to capture this decrease on a municipal
basis, we estimated the amount of change in consumption by municipality in Aichi prefecture.
Then, using the 2011 Aichi Prefecture’s inter-municipal input-output table, the ripple effect on
the value-added by municipality was measured. The population of many municipalities in
Aichi Prefecture will decrease, but in the Nishi-Mikawa area, the population will increase forsome time. In such regions, the demand for consumption will increase, and the regional totalof the induced amount of production and value-added will increase. On the other hand, even30

Abstractin such cities, the reduction effect is greater when considering the induced production andvalue-added due to the decrease in the population in other cities. By sector, medical
expenses increase due to the aging population, education expenses decrease due to thedeclining birthrate, and spending in many service sectors and automobile-related sectors
decreased. In that analysis, there were several remaining issues, one of which is related to
the range of consumer expenditure. We estimated the amount of change in household final
consumption expenditure due to population-fluctuating factors by municipality, however
some parts of government consumption expenditure, such as insurance benefits in medicalcare and long-term care, might also change accordingly. This issue relates to the concept ofconsumption defined dually; “final consumption expenditure” and “actual final consumption.”
The former grasps it from the viewpoints of “share of burden,” and the latter of “enjoyment ofbenefits.” Here, we will investigate what difference will appear on the induced production andinduced value-added in each municipality when the consumption change is calculated bythese different concepts.

Seongha Lee (Graduate School, Yokohama National University), Taku Ishiro(Yokohama National University)
Analysis of inter-regional industrial relations of major industries in Sejong City
The phenomenon of centralization in the metropolitan area is experienced by many countries,
but South Korea is one of the most severe cases. South Korea's metropolitan area accounts
for more than half of its total population and GDP. To overcome this, the Korean government
implemented various policies for the balanced development of the country, and a
representative of them was the construction of Sejong City in Chungcheong Province.
Sejong City was established in July 2012 and by 2021, 44 government organizations and
15 state-run research institutes have migrated from the metropolitan area. In addition, it isactively interacting with various cities in Daejeon, Chungcheongbuk-do, andChungcheongnam-do, increasing its influence on the size of the economy and surrounding
cities. Despite the importance of Sejong City, economic analysis after the establishment of
Sejong City is still insufficient. Sejong City is expected to have clear regional characteristics
in the public administration sector and R&D for the purpose of construction, and since it is a
new city, the proportion of the construction industry can be expected to be larger than other
cities. Therefore, by using 2015 Korean Multiregional Input-Output table, this paper analyzes
the industrial structure of Sejong City and Sejong's industrial characteristics and economic
relations with other regions by measuring the industrial linkage between Sejong City andChungcheong area, metropolitan area, and other regions by major industry.
"

31

Abstract
Sunday, 20 March 10:00-12:00 (Venue B (Verre))
International Economy and International Development
Chair: Masaaki Kuboniwa (Hitotsubashi University)
Al Muizzuddin Fazaalloh (Graduate School, Nagoya University)
FDI and Economic Growth in Indonesia: A Provincial and Sectoral Analysis
Foreign direct investment (FDI) plays an essential role in growing the economy, where thisrole runs through two things, namely capital accumulation and technology transfer. However,in the literature, previous research findings are still inconclusive to show positive
contributions of FDI on economic growth. To evaluate the impact of FDI on economic growthmore accurately, the researchers attempt to investigate using disaggregate FDI data at thesectoral level. Although the analysis of the effect of FDI on economic growth has been tested
employing sectoral data, it is less research explored with data at the provincial and sectorallevels. This study aims to analyze the impact of foreign direct investment (FDI) on economic
growth employing sectoral data at the provincial level (33 provinces) in Indonesia over 20102019. We apply the regressions with many levels of fixed effects estimator (reghdfe) to thisresearch. Our estimation results prove that, in general, FDI significantly positively impacts
economic growth in the Indonesian provinces. We also find that FDI in the mining,
manufacturing, water, gas and electricity, hotels and restaurants, and real estate sectors has
a significant positive effect on economic growth. Meanwhile, only FDI in the agricultural
sector has a significant negative impact. Our estimation results confirm that FDI in the
manufacturing sector contributes positively and has a considerable impact. The results arerobust to the GMM System estimator, which considers the endogeneity problem.
Keywords: FDI, economic growth, sector, province, Indonesia

Masaaki Kuboniwa (Hitotsubashi University)
A Comparative Analysis of Domestic and Foreign Value-Added with special reference
to the case across the EU and Russia
Abstract Exports of a country brings about domestic value-added of the country. Usually
they also need imports, which induce foreign value-added generated in partner countries.
This results in the global value chains (GVCs). This paper provides a comparative analysis
on value-added induced by foreign trade with special reference to the GVCs generated
across three countries/areas, that’s to say, the EU, Russia, and the rest of the world (ROW).
The quantitative approaches are armed with Leontief’s input-output techniques using inter-

32

Abstract
country input-output tables (ICIO) released by the OECD in 2021. First, outlines of verticalspecialization (VS) developed by Hummels-Ishii-Yi and Koopman et al. are presented in acomparative view. Also, shown are essential relationships between Russia’s GDP, exports
and imports from/to the EU, and the international oil prices. Second, demonstrated arecomplicated value chains across the three countries/areas in cases with 1-sector and 30sector, respectively, in a concise manner using Johnson-Noguera’s value-added exports,
and Trefler-Zhu-Kuboniwa’s decomposition of gross exports. Third, shown here is thatfurther considerations or modifications on data of Russia’s oil and gas GDP, and exports andimports to/from the EU, which are largely exposed to changes in international oil prices,would bring about clearer understandings of inter-dependence between the EU and Russia.
Keywords: GVC (global value chain), vertical specialization, value-added exports, EU,
RussiaUsman Alhassan (Ritsumeikan University), Jean-Claude Maswana (Ritsumeikan
University), Kazuo Inaba (Ritsumeikan University)
Remittances and Formal Entrepreneurship Development: The Role of Local Financial
Development
Low savings rates in developing countries often hinder the effectiveness of their local
financial sectors from providing funding for entrepreneurship development. However, thesheer size and the relative stability of migrants’ remittances to developing countries could
play an important role in filling this savings gap and in fostering formal entrepreneurshipdevelopment given certain conditions in developing countries. This paper studies how local
financial sector development serves as a mechanism for positioning a country to increase
remittances inflow and channel them towards formal entrepreneurship development. The
paper deviates from previous studies that assess the combined impact of remittances andfinancial development on the general economic growth by focusing on formal
entrepreneurship development while excluding the informal sector that accounts for large
portions of GDP in developing countries. We use a new dataset on new business density in
81 remittance-receiving countries that capture formal enterprises development from 2006 to2018 and the panel Feasible Generalized Least Square (FGLS) and a two-step system
Generalized Method of Moments (GMM) techniques for our analysis. The preliminary
findings from both estimation techniques show that remittances and financial development,
proxied by domestic credit to the private sector play a complementary role in facilitating
formal entrepreneurship development. This is evident from a positive and significant impactof remittances-financial development interaction on formal entrepreneurship. The implicationis that remittances adequately fill up the savings gap in developing countries thereby allowing
local financial institutions to channel credits towards entrepreneurship development.

33

Abstract
Keywords: Remittances; Entrepreneurship; Financial Development; New Business Creation
JEL Classification: F24; L26; O16; M13

Sunday, 20 March 10:00-12:00 (Venue C (Reine))
Theory of Input-Output Techniques
Chair: Yasushi Kondo (Waseda University)
Heming Zhang (Graduate School, Yokohama National University, ), Taku Ishiro(Yokohama National University)
The Compilation and Analysis of the 2015 Input-output Table of Kyoto Prefecture for
the Cultural Industry
The rise of cultural industry is in the part facilitated by the rise of leisure and entertainment in
the advanced industrialized economies. Recently western countries have been attachingimportance to cultural industry and developing it as one of the growth strategies. Japan has
also made numerous efforts to its cultural industry. Kyoto Prefecture, as the ancient capitalof Japan, is famous for its traditional culture, promoting the development of its culturalindustry positively in these years. This article is to analyze the impact and development
status of cultural industry of Kyoto Prefecture, based on the compilation of the 2015 Inputoutput Table of Kyoto Prefecture with 110 sectors. First, the writer compiled a new 2015
Input-output Table of Kyoto Prefecture with cultural industry sectors, based on the 2015
Input-output Table of Kyoto Prefecture with 105 sectors. Second, some important indexes
derived from the matrixes such as specialization coefficient, sensitivity coefficient and theindex of power of dispersion, are computed and analyzed to show the impact of culturalindustry of Kyoto Prefecture. Third, the writer summarized the results of the analysis with therecent development status of Kyoto’s cultural industry and gave some suggestions to the
future activation strategy of Kyoto’s cultural industry.

Jian Jin (Waseda University Graduate School), Yasushi Kondo (Waseda University)
Improving the Uncertainty Analysis of Input-output Models by Considering theCorrelation between Input Coefficients
Input-output (IO) analysis rarely reports uncertainty indicators such as standard deviation,
despite their importance. The literature on the uncertainty analysis of IO models identifies
Monte Carlo simulation as the norm in quantifying uncertainty indicators, where the input

34

Abstractcoefficients are assumed to be mutually independent. However, studies such as Nakajima
et al. (2013, Environ. Sci. Technol.) and Ali and Santos (2014, IIOA Conference) are
exceptions. These studies applied the Dirichlet distribution to consider the correlation
between the input coefficients of each production sector. This study quantitatively evaluates
the performance of the Dirichlet distribution in comparison to the corresponding independent
distribution. We used the 2014 Japanese national IO table of the World Input-Output
Database. By defining the economic impact (EI) of a sector as “the increase in the sum of
outputs of all sectors when the final demand for the respective sector increases by one unit,”
we found that the 95% coverage interval of an EI is 23% narrower on the average when thecorrelation between input coefficients is considered than when it is excluded. This substantial
improvement indicates that the proposed method is more likely to produce conclusive or
significant results. This study also outlines an approach for determining the parameters of
the Dirichlet distribution by utilizing the variance of transactions in the IO table.

Satoru Hagino (Statistics Bureau, Ministry of Internal Affairs and Communications)
Update of OECD TiVA Indicators and Usefulness of Extended Input-output Table
incorporating firm heterogeneity
This paper examines the updates of OECD TiVA indicators and the usefulness of an
extended input-out table (EIOT) incorporating firm heterogeneity of Japanese firms in termsof differences in their ratio of imported intermediate goods to total output. Using such an
EIOT, we calculated the vertical specialization indicator of Japan, which corresponds to theforeign value added included in exports. In this process, we measured the differences inintermediate input ratios between different types of firms using firm-level microdata from the
Basic Survey of Japanese Business Structure and Activities. Our analysis shows that
distinguishing between exporting and non-exporting firms is relevant for assembly industries
such as the electronic and automobile industries, as widely discussed in the literature. In
contrast, for primary materials industries such as paper, chemical and metal industries, otherdistinctions appear more important. More specifically, for the chemical industry, where firms
tend to have large, integrated manufacturing plants, the differences in intermediate importratios are largest when distinguishing large firms from small and medium firms. For the paper
and metal industries, which rely on foreign raw materials, the difference is largest when
distinguishing between firms with and without foreign affiliates. By incorporating such
heterogeneity, the vertical specification indicator increases by 70 percent, and thus, the EIOT
could the foreign value added more comprehensively.

35

Abstract
Sunday, 20 March 13:00-14:20 (Venue A (Etincelle))
Regional Input-Output Analysis
Chair: Mitsuo Yamada (Chukyo University)
Hajime Tanaka (The University of Tokyo), Shunsaku Konishi (Promotion andResearch Institute for Ocean Economics)
The Creation of the Marine-Industry-detailed Input-Output Table: Shimizu-Ward,
Shizuoka-Prefecture, Japan as case study.
Shimizu-Ward, Shizuoka-City, Shizuoka-Prefecture in Japan is blessed with marine
conditions facing Suruga Bay, the deepest bay in Japan with a diverse ecosystem, and has
achieved economic development centered on the marine industry. For example, SakuraShrimp caught only in Suruga-Bay has sustained fisheries and fish processing in Shimizu.
In particular, the marine transport industry has developed as a logistics hub at Shimizu Port,
which is designated as an international hub port, a core international port, and a specified
port under the Port Regulations Law. In order to further develop the economy, Shizuoka City
has made various port plans to further expand the use of Shimizu Port. Although thepromotion of the marine industry is an important policy goal for Shizuoka-City, there is no
detailed input-output table for the marine industry that can be used as a basis for analyzing
the economic effects of achieving this goal. In this study, we used the non-survey method tocreate an input-output table that categorized the marine industries (fisheries, fish processing,ship building and repairing, and marine transport) in Shimizu-Ward. The input-output tablerevealed that the ripple magnification of the ship building and repairing is 1.75, that of themarine transport industry is 1.68, that of the fish processing 1.56, and that of the fisheries is
1.16. In addition, we estimated one of the policy promoting use of the Shimizu-Port as an
example of using the Input-Output Table.

Kiyotaka Ishikawa (The University of Tokyo)
Interregional Network Linkage Effects by the Liberalization of Agricultural and Food
Product Import in Japan
Input-output structure in Japan’s agri-food sectors is intra-regional in its intermediate input
supply, which suggests that productivity changes in those sectors are intensive in intraregional spillover to the regional output (Network Linkage effect), as studied in Ishikawa(2021). This study, based on the same Network Linkage model by Baqaee and Farhi (2019),
empirically studies the propagation toward regional macroeconomy by two historical shocks

36Abstractin the agri-food sectors; a) TFP changes and b) import dependency changes (import value
divided by final demand). a) For TFP shocks in food processing sector, some regions havesuffered from negative Network Linkage effect. Since the sectoral TFP are stagnant or falling,its downstream reduce the input from the sector and meanwhile increase the substitutes inintermediate input cost-share, and eventually the latter effect prevails in the Network. Thiscan be attributed to the food commodities differentiated with its origins or transportation costsof perishables between remote regions. b) As import extends in agricultural sector, urban
regions have suffered from negative effect more significantly than rural regions have while
there is no such urban-rural gap for shocks in food processing sector. This means that rural
agricultural products are less vulnerable to import shocks since they require inputs or
production factors only locally reproducible such as specific land or climate and maintain the
supply chain to urban area’s food consumption. On the other hand, location is relatively lessimportant among food processing industries, considering that most of them locate nearconsumption. Ishikawa, K. (2021). Networks in Japanese Regional Agro-food Supply
Chain: An Application of Interregional Input-Output Table to Network Linkage Model,
PAPAIOS-ICES 2021, C-1 Regional Input-Output Analysis 1, Kobe JAPAN, March 20.
Baqaee, D. R., & Farhi, E. (2019). The macroeconomic impact of microeconomic shocks:
beyond Hulten’s Theorem. Econometrica, 87(4), 1155-1203.

Sunday, 20 March 13:00-14:20 (Venue B (Verre))
Environment, Resource and Energy
Chair: Makiko Tsukui (Tokyo International University)
Yasushi Kondo (Waseda University), Xu Han (Waseda University )Material Footprint of Sector Groups based on Input-Output Analysis
There is an increasing interest in material footprint and resource productivity. According to
the United Nations Sustainable Development Goals (SDGs), material footprint is an SDG
indicator related not just to the improvement of global resource efficiency in consumption
and production but also the decoupling of economic growth from environmental degradation.
In industrial ecology, input-output (IO) analysis is widely used to quantify material footprint
alongside other environmental footprints. The standard IO model, that is, the Leontief
quantity model, in which final demand drives production at sectors, is suitable to quantifying
the material footprint of final products such as machinery and buildings. However, whenanalyzing the material footprint of intermediate products such as machine parts andconstruction materials, the application of the standard IO model is not straightforward. While
the Szyrmer total flow approach can be used to quantify the material footprint of a single

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Abstract
sector, to the best of our knowledge, methods suitable for simultaneously analyzing multiple
sectors are not known. There is a great need for filling this research gap, and, therefore, thisstudy proposes a method to analyze the material footprint of sector groups by using a timeseries of Japanese IO tables and material flow data. We found that this proposed method
provided reasonable results, whereas a naive application of the standard IO model led to anunder-estimation. Moreover, the Szyrmer approach led to an over-estimation when the
results of individual sectors are aggregated into sector groups. Our findings can effectively
improve the quantification of resource efficiency in large enterprises and industry
associations, which typically span multiple sectors in a detailed IO table as well as groups
closely related to these sectors.

Makiko Tsukui (Tokyo International University)
Measuring the waste footprint of Chinese trading partners: a multi-regional waste
input-output approach
The serious waste problem in China is strongly related to the development of infrastructure
and production activities for exports. Many trading partners import Chinese goods, which
stimulates the manufacturing industries in China and causes large amounts of waste. We
used a multi-regional waste input-output approach to investigate which industries in China
are primarily responsible for waste generation, and which exports induce the industries
responsible for generating these wastes. We extended the WIOD, one of the major multiregional input-output tables for 2007 and 2014, to investigate waste generation, recycling,
and waste treatment activities in China, and to assess how these are affected by China’s
trading partners. We also investigated the differences in the economic structure and waste
generation in China between 2007 and 2014. In China, production activities in the ""Mining
and quarrying"", ""Electricity, gas, steam and air conditioning supply"", ""Manufacture of basic
metals"", ""Manufacture of chemicals and chemical products"", and ""Manufacture of othernon-metallic mineral products"" sectors induced most of the waste generation in both 2007
and 2014. Compared with 2007 and 2014, China's waste generation per production value
improved dramatically after China implemented the 11th Five-Year Plan. The contribution of
the rest of the world (ROW), which the WIOD does not cover as a country, to waste
generation in China through trade, also increased from 2007 to 2014. The results showed
the need for more detailed and reliable estimates for Asian and African regions in multiregional input-output tables.

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Abstract
Sunday, 20 March 14:20-15:40 (Venue A (Etincelle))
International Economy and International Development
Chair: Taku Ishiro (Yokohama National University)
Joseph Aduba (Ritsumeikan University)
Does learning by banking, fintech penetration, and financial inclusion explain
financial development in emerging and developing economies? A cross country
analysis
For developing and emerging economies, financial development (FD) means the basic
business of building sounder and more efficient financial institutions, equity, and bondmarkets that could efficiently intermediate economies’ savings into various productive uses.
However, the drivers of FD are multi-dimensional. This study investigates the connection
between the performance of depository financial institutions (DFIs), fintech penetration,
financial inclusion, and financial development in developing and emerging economies. Using
the learning curve theory and stochastic frontier analysis approach, the study estimates theefficiency gains from the information-intensive processes of asset transformation in morethan 60 emerging and developing countries and thereafter investigate the relationshipbetween these performance measures, fintech penetration, financial inclusion and financial
development as computed by IMF. Preliminary results show significantly positive
relationships between financial deepening and some financial performance measures
analyzed, especially the efficiency of credit and value creation. In addition, the preliminary
results also show that fintech penetration and financial inclusion have significantly positiveeffects on financial development. The implication is that the efficiency of credit and value
creation, fintech penetration and financial inclusion are important drivers of financial
deepening in emerging and developing countries.
Keywords: Credit/value creation,
Financial inclusion, Fintech, Financial development, Investment, Learning curve. JEL: G21,
G32, MI

Harutaka Takahashi (Graduate School, Kobe University)
A Dynamic Theory of the Feldstein? Horioka Puzzle and Financial Frictions
Many empirical studies of the Feldstein-Horioka Puzzle (FHP) conducted so far had
common drawbacks; among others, those estimates were free from economic models, andtheir specification errors were not avoidable. In other words, statistically significant estimatesof the saving retention coefficient are not known yet. Taking a completely different approach39

Abstractfrom earlier studies to elucidate FHP, I re-estimated the savings retention coefficient (called“beta”) indirectly based on the saddle-path dynamics of investment under convex adjustment
cost based on Tobin’s q-theory. In order to avoid complications, I assumed that the domestic
saving was exogenously given and that the error term of the regression model represented
various shocks and effect of financial frictions. If domestic investment determined by theabove investment theory were not equal to a given domestic savings, then international
money flows through international financial market would work to partially offset this gap. In
other words, estimated betas indicate the measurer of smoothness of this adjustment
process. My main empirical results are: (1) Replication of the FHP in the 16 OECD
countries during 1964?1974 yielded 0.52 as the estimate of the beta, which was muchsmaller than the estimate of Feldstein and Horioka (1980). (2) Estimates using samples forevery 10 years during 1960?1999 exhibited that the beta decreased gradually. (3) During
2000?2008, the FHP temporarily disappeared and then the higher beta returned after 2008.
The results clearly illustrate the degree of complete capital mobility in international financial
markets over the past four decades.

Sunday, 20 March 14:20-15:40 (Venue B (Verre))
Environment, Resource and Energy
Chair: Keiji Ujikawa (Yokohama National University)
Alvaro Dominguez (Asian Growth Research Institute)
Detecting air pollution clusters in Japan: A spatial analysis approach
We rely on satellite data to study the spatial distribution of air pollutants and economic activity
for 1644 municipalities of all four main islands of Japan: Honshu, Kyushu, Hokkaido and
Shikoku. Specifically, we analyze atmospheric particulate matter and ozone concentrations,as well as population density, accessibility to cities, and night lights for the above islands. We
then make use of principal component analysis, spatial dependence analysis, and methodsof regionalization to endogenously classify the municipalities based on their similarity in
attributes and geographic location. The spatial dependence analysis provides results whichshow us the specific sites where the high-value clusters (hot spots) and low-value clusters(cold spots) are located. These show a high positive correlation between economic activity
and air pollution. Additionally, we perform a regionalization analysis of the variables underconsideration, which specifies how the four main islands can be regionalized into eight ornine geographical regions or structures, each. The regionalization takes into consideration
both pollution levels and economic activity. We then conclude by discussing how thesedifferent analyses can complement each other, and how they contribute in finding the40

Abstract
locations where policies related to air quality can help in improving the quality of life of the
population.

Saiful Arefeen (Ritsumeikan University), Koji Shimada (Ritsumeikan University)
Learning Curve on Solar PV: Policy Implications in Different Regions and Country
Classes
For more than a decade, solar photovoltaic (PV) has been regarded as the fastest-growing,
ecologically and economically feasible energy source. It was discovered that capital
expenditure is one of the most significant financial barriers to solar photovoltaic uptake. The
capital cost of solar photovoltaic may be broken down into two parts: the 'module,' whichconverts sunshine to energy, and the 'other costs,' which include installation, inverter, labour,
mount, cable, permitting, and grid connection. The cost-share in capital investment of solar
photovoltaic installation has been observed a dramatic change recently. The module pricehas declined faster than the 'other cost'. While module costs are internationally priced andwell-documented, 'other costs' is little known. Moreover, solar photovoltaics power’s
adoption can be determined by policy learning. Furthermore, each location or nation has
unique cost elements as a result of industry, legislation, energy objectives, and theenvironment. Therefore, it is crucial for policymakers to know the rate of cost reduction in‘other cost (other than module pricing)’ components of solar photovoltaic power by
renewable policy (such as feed-in tariff vs without feed-in tariff), country class (developed vsdeveloping), and geographical regions. To examine the learning curve coefficient, we used
the Trappey et al.’ (2016)'s learning curve approach and applied multiple econometricmodels such as fixed-effect and random-effect. The data will collect from various sources
such as IEA, IRENA, and country reports. This study will aid the policymakers to focus on
the appropriate policy interventions on cost structures, especially in developing andemerging countries, to penetrate solar photovoltaic power and promote clean energy
worldwide.
Keywords: solar photovoltaic, learning curve, cost, energy policy, emerging country"

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Hotel Plumm

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International Conference on Economic Structures 2022
Hotel Plumm Yokohama, Japan, March 19-20, 2022
General Organizing Committee
・Takashi Yagi (Meiji University)
・Keiji Ujikawa (Yokohama National University)
・Yoshifumi Ishikawa (Nanzan University)
・Nobuhiro Okamoto (Daito Bunka University)
・Mikio Suga (Hosei University)
・Koji Takase (Shizuoka University)
・Satoshi Nakano (Nihon Fukushi University)

Local Organizing Committee (Yokohama National University)
・Yuichi Hasebe
・Taku Ishiro・Keiji Ujikawa
・Shrestha Nagendra

Scientific Program Committee
・Mikio Suga (Hosei University)
・Taku Ishiro(Yokohama National University)
・Yoshifumi Ishikawa (Nanzan University)
・Nobuhiro Okamoto (Daito Bunka University)
・Koji Takase (Shizuoka University)
・Satoshi Nakano (Nihon Fukushi University)
Organized by the Pan Pacific Association of Input-Output Studies (PAPAIOS)
Contact: ICES_PAPAIOS@ml.gakkai.ne.jp
Web site: http://www.gakkai.ne.jp/papaios/en/index.html
This conference is assisted by Grants-in-aid for scientific research ofJapan society for the promotion of science (JSPS) 16HP2010,
And supported by Yokohama National University and Yokohama Convention & Visitors
Bureau.

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