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Organizers

Chief of the General Organizing Committee:
Mikio SUGA (President of PAPAIOS), Hosei University, Japan
Chair of the Scientific Program Committee:
Ken ITAKURA, Nagoya City University, Japan

Time Table

18 March, 2023
Venue A(S301)

Venue B
(S302)

Venue C(S303)

12:30-

Venue D(S306)
Opening Session

12:50
13:00-The Effect of

15:00

Disaster and COVID19 to Economy

Macroeconomic

Regional Input-

Modeling and CGE

Output Analysis

15:20-

Environment,
Resource andEnergyKeynote speech

16:00
16:10-

Klein Prize Awardee

16:50

Speech19 March, 2023
Venue A(S301)
10:0012:00

Venue B
(S302)

Venue C(S303)

Venue D(S306)
Environment,

Organized session1

Organized session 3

Other Topics

Resource andEnergy13:0015:00
15:2016:40

Theory of Input-

Macroeconomic

Output Techniques

Modeling and CGE

Organized session 4

Regional InputOutput Analysis
Compilation ofOrganized session 2

Other Topics

Other Topics

Input-Output
Table or SUT

Supported by Hosei University.

Conference Venue
Sotobori Building, Ichigaya Campus, Hosei University
Ichigaya Campus map: https://www.hosei.ac.jp/english/about/maps/campus/ichigaya/
Access to Ichigaya Campus: https://www.hosei.ac.jp/english/about/maps/access/ichigaya/

Floor Map
3rd Floor, Sotobori Building, Ichigaya Campus, Hosei University
Venue A: S301
Venue B: S302
Venue C: S303
Venue D: S306
Reception: S304

Day 1 Events
Saturday, 18 March 12:30-12:50
Opening Session
Chair:
Yoshifumi Ishikawa
Speaker

Mikio Suga

( Nanzan University)( Hosei University)(President of PAPAIOS)
Speaker

Jinmyon Lee(

Korea Institute for Industrial
Economics and Trade)(Secretary General of KESRA)
Speaker

Ching-Cheng Chang( Academia Sinica)(President of TAIOS)

Saturday, 18 March 13:00-15:00
Kyoto
1

Venue A (S301)

The Effect of Disaster and COVID-19 to Economy
Chair:#### Title
ID 0 Author
Title
AuthorKiyoshi Yonemoto(

Takasaki City University of
Economics)

How do global value chains expose the economy to shocks of Covid-19?
Lea Ortega( Yokohama National University)

The Regional Impact of the COVID-19 Pandemic in South Korea: Evidence from
TERM-Korea Regional CGE model
Sang-Ho Nam( Adelman Institute for Economics)

Saturday, 18 March 13:00-15:00
Kyoto
1

Venue B (S302)

Macroeconomic Modeling and CGE
Chair:#### Title
ID 0 Author
Co-author1#### Co-author2

Ken Itakura( Nagoya City University

Industrial Restructuring and Regional Resilience: A Dynamic Regional CGE Model
ApproachEuijune Kim
Jaewon Lim
Aaron Colletta( Seoul National University)( University of Nevada, Las Vegas )( University of Nevada, Las Vegas )Title

A CGE Analysis of the Socioeconomic Effects of Digital Transformation focusing on
the Korean Economy

AuthorYeongjun Yeo(

Applying Climate Change Impacts to A Global CGE Model with Sub-national Regionsof Japan
Ken Itakura
Akira Hibiki( Nagoya City University( Tohoku University

National Assembly Futures
Institute

)

)

####
Title
AuthorCo-author1

)
)

ID 0

Saturday, 18 March 13:00-15:00

Venue C (S303)

Kyoto
1

Regional Input-Output Analysis

Chair:#### Title
ID 0 Author
Co-author1#### Co-author2

Mitsuo Yamada( Chukyo University)

Compilation of the 2015 Input-Output Table for All Municipalities
Mikio Suga
Taku Ishiro
Natsumi Suhara( Hosei University( Yokohama National University( University of Shimane)))

Country specific export Spillovers
Jiayang Wu
Taku Ishiro( Yokohama National University( Yokohama National University))

Input-output analysis on the economic contribution of small and medium-sizedenterprises’ production to regional economy
Mitsuo Yamada( Chukyo University

)

Title
AuthorCo-author1
####
Title
AuthorID 0

Saturday, 18 March 13:00-15:00
Kyoto
1

Venue D (S306)

Environment, Resource and Energy
Chair:

Yasushi Kondo#### Title

Economic impact of the drought in Spain: measurement for the adoption of measures

ID 0 Author
Co-author1#### Co-author2

Dary Beltran
Manuel Alejandro Cardenete
Paula Villegas

Title

Drivers of household carbon footprint within spatial and socioeconomic groups across
EU regions

AuthorJemyung Lee

Co-author1

Yosuke Shigetomi

Co-author2

Keiichiro Kanemoto

Title
AuthorCo-author1

Investigating carbon emission embodied in global value chain participation for China,
Australia and Indonesia
Shuning Chen
Masaru Kagatsume( Waseda University)( Universidad Loyola Andalucia( Universidad Loyola Andalucia( Universidad Loyola Andalucia)))

Research Institute for Humanity
and Nature( Nagasaki University
Research Institute for Humanity(
and Nature(( Kyushu University( Kyoto University

Saturday, 18 March 15:20-16:00
Kyoto
1

Keynote speech

Chair:#### Title

Nobuhiro Okamoto

ID 0 Speaker

Manuel Alejandro Cardenete

)
)
)

)
)

Venue D (S306)( Daito Bunka University)

Designing Public Policies with Multisectorial Models: Present and Trends(

Universidad Loyola Andalucía,
and Georgetown University

)

####

Saturday, 18 March 16:10-16:50
Kyoto
1
Chair:

Mikio Suga#### Title

Adding Country Resolution to EXIOBASE: Impacts on Land Use Embodied in Trade

ID 0 Speaker

Richard Wood####

Venue D (S306)

Klein Prize Awardee Speech( Hosei University)

Norwegian University of Science( and Technology / University of)
Newcastle

Day 2 Events
Sunday, 19 March 10:00-12:00
Organized session 1: Challenging real-time economy through IO
Kyoto
1techniques
Chair:Kaya Akagi( Chiba University of Commerce)#### Title
ID 0 Author

What does e-invoice data bring to SNA and Real-Time Economy?
Kaya Akagi( Chiba Univesity of Commerce

)

Title
AuthorInput-Output analysis using transaction data between companies
Takaya Ohsato( Shiga university)

Author

An application of firm-level Input-Output analysis: tracking money stream andcategorizations of firms
Junichi Ozaki( Tokyo Institute of Technology

)

Title
AuthorProduction Accounting & Realtime Economy (RTE)
Hiroshi Deguchi( Chiba University of Commerce)

Micro-Macro Link in Agent-Based Modeling and Accounting Research for Real Time
EconomyTakao Terano( Chiba University of Commerce

)

Title

Title
AuthorVenue A (S301)

Sunday, 19 March 10:00-12:00
Organized session 3: Development and policy impacts of climate
Kyoto
1
mitigation in India using Input-Output techniques
Chair:#### Title
ID 0 Author

Venue B (S302)

Tejal Kanitkar(

National Institute of Advanced
Studies)

Carbon implications of eradicating poverty in India
Nisarga R( ESG Models and R&D, MSCI)

( Azim Premji University

)

Title

An input-output based analysis of the labor impacts of clean energy transitions in India

AuthorAnjali Sharma

Title

A review of the EXIOBASE, EORA and WIOD Database using the case study of India

AuthorJoan Shilpa Kiran(

National Institute of Advanced
Studies

Sunday, 19 March 10:00-12:00)

Venue C (S303)

Kyoto
1

Other Topics

Chair:#### Title
ID 0 Author

Takashi Yagi

( Meiji University)

The Counterpart of RAS Method
Vladimir Motorin( National Research University

)

Title
AuthorImpact of financial inclusion on economic growth in developing countries
Sumanta Kumar Saha

( Ritsumeikan University

)

Title
Author

Implications of AI innovation on economic growth: a panel data study
Julius Tan Gonzales( Yokohama National University)

Sunday, 19 March 10:00-12:00

Venue D (S306)

Kyoto
1

Environment, Resource and Energy

Chair:#### Title
ID 0 Author

Makiko Tsukui( Tokyo International University)

A Compilation of SEEA and Application to CGE Model
Keiji Ujikawa( Yokohama National University

)

Title

The potential effects of the carbon tax in Vietnam: A national CGE analyses

AuthorThao Phuong Nguyen

Title

The extended multi-regional input-output analysis for the world mineral asbestos flow

AuthorMakiko Tsukui

Ministry of Planning andInvestment Vietnam)( Tokyo International University)(

Sunday, 19 March 13:00-15:00
Kyoto
1

Venue A (S301)

Theory of Input-Output Techniques
Chair:#### Title
ID 0 Author

Kazuhiko Nishimura( Chukyo University)

The Compilation and Analysis of the 2015 Input-output Table of Seoul Special City for
the Cultural Industry
Heming Zhang( Yokohama National University

)

Title

Analysis of Industry Impact of Container Fare Fluctuations : Using the International
IO(Input-Output) Table

AuthorJunmin Lee

Co-author1

Jeonghyun Kin

Korea Institute for Industrial
Economics and Trade (KIET)( KIET

Title
AuthorPrice Inducing Effect of the Increase in Import Prices
Dongae Jo( Bank of Korea(

Sunday, 19 March 13:00-15:00)))

Venue B (S302)

Kyoto
1

Macroeconomic Modeling and CGE

Chair:#### Title
ID 0 Author
Co-author1

Kiyoshi Fujikawa( Aichi Gakuin University)

Global impacts of China’s carbon tax and CO2 emissions trading
Hikari Ban
Kiyoshi Fujikawa( Kobe Gakuin University( Aichi Gakuin University

)
)

Title
AuthorCo-author1

Tracking Global Value Chains using Global Unit Structure
Masaaki Kuboniwa
Yuichi Hasebe( Hitotsubashi University( Yokohama National University

)
)

Title
AuthorCo-author1

Carbon Leakage in Carbon Taxes and CO2 Emissions Trading
Kiyoshi Fujikawa
Hikari Ban( Aichi Gakuin University( Kobe Gakuin University))

Sunday, 19 March 13:00-15:00
Kyoto
1

Venue C (S303)

Organized session 4: Analyses on main issues in Korean economy
Korea Institute for Industrial
Economics and Trade (KIET)

Jinmyon Lee(

The Evolution of Embodied Services in Korean Goods Exports
Gahyeon Cheon
Youngho Lee( KIET( KIET))

Title
Author

The R&D Spillover in Korea using Input-Output table
Taehyun Kwon

( Bank of Korea

)

Title

The Effects of a Carbon Tax on the Korean Economy in a More Environment
Conscious Era

AuthorYong Kyun Kim

Chair:#### Title
ID 0 Author
Co-author1

Sunday, 19 March 13:00-15:00)( National Assembly Budget Office )Venue D (S306)

Kyoto
1

Regional Input-Output Analysis

Chair:#### Title
ID 0 Author

Taku Ishiro( Yokohama National University)

Multi-Regional Input-Output Analysis of Public Sector In Japan
Kazuaki Sato

( Tokyo Keizai University)

Indirect Effects on the East Asian Steel Industry Arising From the World's Final
Demand for Each Industry
Kayo Shiode( Saitama University

)

Title
AuthorTitle
AuthorAnalyzing the Kanagawa Prefecture Economic Area Using Input-Output Tables for All
Municipalities
Taku Ishiro( Yokohama National University)

Sunday, 19 March 15:20-16:40
Kyoto
1

Venue A (S301)

Organized session 2: Industrial policy evaluation in developing countries

Chair:#### Title
ID 0 Author
Title
AuthorTitle
AuthorChristian Otchia( Nagoya University)

Agriculture Development-led Industrialization and Economic growth
Christian Otchia( Nagoya University)

Impact of Special Economic Zone on Economic Development: Evidence From LaosNightlight Analysis
Nilaphy Phommachanh( Nagoya University)

Do place-based policies foster structural changes? Evidence at the district level from
VietnamNguyen Thi Minh Thu( Nagoya University)

Sunday, 19 March 15:20-16:40
Kyoto
1

Venue B (S302)

Other Topics
Chair:#### Title
ID 0 Author
Title
AuthorCo-author1
Co-author2

Ayu Washizu( Waseda University)

International Remittances and Labour Force Participation in Nigeria: Do Educational
Attainment and Household Income Matter?
Usman Alhassan( Ritsumeikan University)

The impact of sustainable diets and smart food services on environment and wellbeing: a case of Japanese households
Yiyi Ju
Ayu Washizu
Sayaka Ita( Waseda University( Waseda University( Tohoku Gakuin University)))

Sunday, 19 March 15:20-16:40
Kyoto
1

Venue C (S303)

Other Topics
Chair:#### Title
ID 0 Author
Co-author1
Title
AuthorCo-author1
Co-author2

Kazuo Inaba( Ritsumeikan University)“Can Historical Economic Growth Patterns be Traced in South Asian Countries assame as the Classical Theory shows?” : A sectoral approach using input-output
analysis
Muhammad Tashfiq Huq
Masaru Ichihashi( Hiroshima University( Hiroshima University))

Information transparency, collateral problem and bank credit accessibility of small andmedium enterprises in ASEAN countries
Ei Ei Thein( Ritsumeikan University
Atsushi Niigata( Ritsumeikan University
Kazuo Inaba( Ritsumeikan University

Sunday, 19 March 15:20-16:40)))

Venue D (S306)

Kyoto
1

Compilation of Input-Output Table or SUT

Chair:#### Title
ID 0 Author

Satoru Hagino( Statistics Commission Office)Construction of Real Priced Global Input-Output Tables
Nagendra Shrestha( Yokohama National University)

Constructing regional input- output table in the context of data limitation- the case ofVietnamThao Thi Bich Dang
Duong Lam Anh Tran
Morito Tsutsumi( University of Tsukuba( University of Tsukuba( University of Tsukuba

)
)
)

Title
AuthorCo-author1
Co-author2

Abstract
Abstract1
Saturday, 18 March 13:00-15:00 (Venue A (S301))
The Effect of Disaster and COVID-19 to Economy
Chair： Kiyoshi Yonemoto (Takasaki City University of Economics)
Lea Ortega (Yokohama National University)
How Do Global Value Chains Expose the Economy to Shocks of Covid-19?
The Covid-19 crisis has increased the discussions of international fragmentation productionor the global value chains (GVCs). Disruptions in the supply chains due to isolation
measures and border controls during the Covid-19 outbreak stressed the interdependence
and interconnectedness of economies through GVCs. This brought an increased attention
in research and policy due to the changing costs and benefits of globalization and if theformer had outweighed the benefits of globalization during the onset of Covid-19.
Discussions and research had emphasized the shocks’ transmissions associated with the
supply chain disruptions and are mainly due to how economies were interconnected in theinternational production network. Using structural decomposition method through an inputoutput framework, this paper aims to examine the impact of the Covid-19 and thetransmission of shocks among economies, and how the international production network or
GVC had influenced the shocks exposure. This research employs the recent inter-country
input-out data and GVC indicators from Asian Development Bank’s multiregional inputoutput database. Structural decomposition of trade orientation using input-output data
identified the trading relationships of economies and how Covid-19 had changed their GVC
participation during the onset of the outbreak and post-outbreak. Analysis and comparisonswere performed for different economies. Results suggest that countries experienced shocks
differently from foreign supply and demand shocks in GVCs. The sources and transmissionof shocks through global production network played a critical role in mitigating future related
shocks associated to global supply chains.

Sang-Ho Nam (Adelman Institute for Economics)
The Regional Impact of the COVID-19 Pandemic in South Korea: Evidence from
TERM-Korea Regional CGE model

1

Abstracts listed here are extracted from the application form of the conference. Revised abstracts may beavailable from the registration system.

Abstract
Saturday, 18 March 13:00-15:00 (Venue B (S302))
Macroeconomic Modeling and CGE
Chair： Ken Itakura (Nagoya City University)
Euijune Kim (Seoul National University), Jaewon Lim (University of Nevada, Las
Vegas), Aaron Colletta (University of Nevada, Las Vegas)
Industrial Restructuring and Regional Resilience: A Dynamic Regional CGE Model
Approach
The private services producing industries in the U.S. accounts for roughly 68.2% of the U.S.
GDP and 71.1% of total nonfarm jobs. Among the U.S. service sector industries, tourismrelated businesses are one of the fastest growing industries, including recreational andcultural services. Unlike other types of private services, e.g., professional and businessservices, the large portion of the tourism-related services happen in tourism destinations.
Consumers travel to a destination to spend and the tourism-related export service occurs in
the origin point of the export. This benefits local economies through inter-industrial linkages
within the tourism destination and broadly defined regional economy through inter-regional
and inter-industrial linkages. This paper examines how the local economies of a popular
tourism destination would respond to the job losses in local labor market from transition
towards automation in service industry. Authors developed a Computable General
Equilibrium (CGE) model to identify how the industrial restructuring in tourism industry in
Nevada due to automation affects household income, regional resilience, and the overall
welfare of Nevada. Based on counter-factual scenarios with the workforce retraining policies,
this paper measures the absorption of shock through countervailing effects of the policy
intervention. Findings in this paper provide the viable and adaptive policy paths to minimize
the shock on local labor market by enhancing regional resilience.

Yeongjun Yeo (National Assembly Futures Institute)
A CGE Analysis of the Socioeconomic Effects of Digital Transformation Focusing on
the Korean Economy
There have been few studies that quantitatively investigate the opportunities and risk factors
driven by digital transformation. In addition, there has been a lack of quantitative researchthat estimates the impacts of policy interventions to resolve potential problems in the future
digital transformation era. Against this background, this study attempts to explore the intrinsic
characteristics of digital transformation-led technological changes. In addition, this study
explores the long-run impacts of digital transformation on the socioeconomic system in terms

Abstractof economic growth, employment, and distribution, using a computable general equilibrium(CGE) model. The results show that digital transformation has the potential to accelerateroutine-biased and capital-biased technological changes. In this regard, we have found that
economic growth driven by digital transformation disproportionately increases relative
demand for capital and non-routinized cognitive tasks over routinized tasks. This shift in thevalue-added composition is found to have the potential to deepen income inequality, as
higher income groups benefit from greater tasks premiums and capital earnings.
Furthermore, the quantitative findings suggest that the promotion of the dynamic interaction
between digital transformation-led technological change and lifelong learning may alleviate
the potential risks induced by technological changes. Based on these findings, this study
attempts to redefine the role of innovation policy in making a successful transition to thedigital transformation era.

Ken Itakura (Nagoya City University), Akira Hibiki (Tohoku University)
Applying Climate Change Impacts to A Global CGE Model with Sub-national Regionsof Japan
Our aim in this study is to apply climate change impacts to a recursively dynamic global
computable general equilibrium (CGE) model which incorporates the sub-national regionsof Japan. For this purpose, we modify the Global Trade Analysis Project (GTAP) model anddatabase to accommodate the forty-seven prefectures, sub-national regions, of Japan.
Energy-environmental version of the GTAP (GTAP-E) model and database is extended forthe prefectures and for stock-flow dynamics of investment. Climate change impacts
stemming from change in temperature are obtained from Roson and Sartori (2016) whichclassify the impacts into six groups; (1) sea level rise, (2) agricultural productivity, (3) heateffects on labor productivity, (4) human health, (5) tourism flows, and (6) households' energy
demand. To quantify each of the climate change impacts, we construct a baseline scenario
for the period of 2011 to 2100 and implement seven scenarios corresponding to each of thesix climate change impacts and a combination of them. Tentative simulation results showsthat heat effects on labor productivity and agricultural productivity are relatively larger ascompared to other impacts, lowering the gross regional product (GRP) in real term.
Interaction in domestic transactions between prefectures and in international trades acrosscountries plays important role determining the direction of impact at industrial sector level.

Abstract
Saturday, 18 March 13:00-15:00 (Venue C (S303))
Regional Input-Output Analysis
Chair： Mitsuo Yamada (Chukyo University)
Mikio Suga (Hosei University), Taku Ishiro (Yokohama National University), Natsumi
Suhara (University of Shimane)Compilation of the 2015 Input-Output Table for All Municipalities
Suga (2019) complied input-output tables for all municipalities by using micro data of the2012 Economic Census Activity Survey and the 2011 Input-Output Tables. The study
initiated by Suga (2019) was intended to raise public awareness of the just-launched
Economic Census Activity Survey by having the results of the survey used for analysis inregions (municipalities) familiar to the respondent and by spurring examples of the use ofanalysis results to contribute to regional policy making. Some studies which utilized thecompiled results provided by Suga (2019) were those from Yamada (2020), Yamada (2022),
and Funabashi (2021). The 2016 Economic Census Activity Survey used 2015 as thereference year, and this study extends Suga's (2019) 2011 estimates to 2015. Essentially,
this study used the micro data of the 2016 Economic Census Activity Survey to aggregate
sales (revenue) by industry and municipality. Watanabe and Suhara were in charge of theestimation for the headquarters sectors. Ishiro and Inoda were in charge of estimating the
agriculture, forestry and fisheries sector. Ide was in charge of estimating the household
consumption sector. Finally, we compiled input-output tables for all municipalities using the2015 Input-Output Tables. This study has been prepared as a teaching resource for training
conducted at the Statistical Research and Training Institute and is part of a joint research
project between the Institute and Suga.

Jiayang Wu (Yokohama National University), Taku Ishiro (Yokohama National
University )Country Specific Export Spillovers
As countries around the world are actively embracing regional and interregional cooperation,
China launched an ingenious economic growth strategy called "One Belt, One Road" in 2013.
Against the backdrop of this policy and focusing on the "Silk Road Economic Belt," thelongest economic corridor in the world with the strongest growth potential, is the core regionof the "Silk Road Economic Belt," Xinjiang Uygur Autonomous Region, which is said to be
the window connecting east and west in the northwestern part of China. This paper will focus
on Xinjiang Province of China and ten surrounding countries (Mongolia, Russia, Kazakhstan,Abstract
Kyrgyzstan, Tajikistan, Uzbekistan, Turkmenistan, Afghanistan, Pakistan, and India) as oursample region after the implementation of the "One Belt One Road" policy. Using the Xinjiang2017 Input-Output table, Using the actual export data to each country obtained from customs,
the export value column of the input-output table was divided by 10 countries. This step
allowed us to summarize the various actual export data down to the industry level. The valueof exports to each country is then further divided into two types of trade: general trade andfrontier trade. This process makes it possible for this paper to separate the production
inducement effect of exports into general trade and border trade. We will use the method of
Input-Output analysis to calculate the spillover effects of Xinjiang's exports to analyze thetrade structure and actual trade situation between Xinjiang and its neighboring areas, and toclarify its connections with other countries through exports.

Mitsuo Yamada (Chukyo University)
Input-output Analysis on the Economic Contribution of Small and Medium-sizedEnterprises’ Production to Regional economy
The success of SMEs is important for regional economic development. A company not only
directly contributes to local economy through its value added and employment demand, butalso influences the production of other companies through inter-company transactions. This
indirect effect additionally induces value added and employment. Such ripple effects can beobtained by input-output analysis. The “hypothetical extraction method,'' which assumes thata certain sector does not exist and measure how much the economic spillover would be
reduced by the sector’s non-existence, is well known as a method measuring effect of acertain sector’s economic activity on the economy. Since this method assumes that theactivity of a specific sector, included in the input-output table, disappears, it is difficult to apply
it to measure the contribution of a specific company's production activities to the regional
economy. So, we use ""hypothetical insertion method"" that assumes a certain sector newly
added, which is the opposite case of this setting. Taking Nishio City, Aichi prefecture as an
example, we conduct a questionnaire survey to four SMEs on their production, material andother costs, and regional sales and procurements. Then each company’s production andprocurement are described as row and column vectors of one sector, which would be added
to an input output table. We use 2011 Nishio City’s interregional input-output table, with three
regions: Nishio City, the rest of Aichi prefecture, and the rest of Japan, and 106 sectors foreach region. Measuring increase of the ripple effects by adding SME’s sector, we obtainregional contributions of its production. We calculate not only backward linkage effect ofprocurement of intermediate goods in the supply chain of the company in question but also
the forward linkage effect through the product sales.

Abstract
Saturday, 18 March 13:00-15:00 (Venue D (S306))
Environment, Resource and Energy
Chair： Yasushi Kondo (Waseda University)
Dary Beltran (Universidad Loyola Andalucia), Manuel Alejandro Cardenete(Universidad Loyola Andalucia), Paula Villegas (Universidad Loyola Andalucia)
Economic Impact of the Drought in Spain: Measurement for the Adoption of
Measures
The objective of this study is to estimate the economic impact of droughts in Spain to provide
valuable information to decision-makers; such information would allow them to understandthe macroeconomic scope of droughts to define mitigation measures and the impact on
economic activity. Notably, there is a strong relationship between the productive structureof a given country or region and the natural resources that it consumes. The results showthat water transactions are highly concentrated in a few sectors, mainly the agricultural sector,
while being almost negligible in the rest. This work indicates how the economy reacts interms of production or income and in terms of GDP, obtaining a drop of 2.6% for bothindicators, which will allow us to obtain an approximation of the economic impact in the faceof a drought situation in Spain with a water reserve falling by 39 %. In addition to theconclusions in quantitative terms, it is also interesting to consider other aspects such as, forexample, social or political issues, as well as to reflect on the different possibilities available
to try to tackle a very serious problem and a situation that is expected to worsen in the next
few months and years.

Jemyung Lee (Research Institute for Humanity and Nature), Yosuke Shigetomi(Nagasaki University), Keiichiro Kanemoto (Research Institute for Humanity andNature)Drivers of Household Carbon Footprint within Spatial and Socioeconomic Groups
across EU Regions
Carbon mitigation has been a key target for many cities to meet the Paris Agreement. Cities
became active players in climate actions as many shreds of evidence indicate theresponsibility of urban areas toward the accelerating climate change. Carbon Footprint (CF)captures the total contribution of nations, cities, or households to global emissions.
Household-level CF accounts offer perspectives on the scales and drivers of CF of different
regional, spatial, and socioeconomic groups crosscutting the country by linking multiregional input-output (MRIO) tables and micro-data of household consumption. Here, weAbstractestimate the carbon footprints of 275,247 households in 2010 and 264,604 in 2015 across
62 EU NUTS1 regions by linking the Eora MRIO database and micro-consumption data. We
employ Structural Decomposition Analysis to identify the driving factors of CF changes overtime within different regional, population density, income, and CF emitting groups. We foundthat the drivers of carbon footprint largely depend on spatial and socioeconomic context. For
example, medical care consumption drives wealthy households' CF only. In Bulgaria,
reductions in durable goods consumption contributed to CF mitigation in the BG3 NUTS1
region, while decreased consumable product consumption in the BG4 NUTS1 region drove
the CF reduction. It suggests the need for group-specific analysis and policy-making thatreflects inside the national boundary.

Shuning Chen (Kyushu University), Masaru Kagatsume (Kyoto University)
Investigating Carbon Emission Embodied in Global Value Chain Participation for
China, Australia and Indonesia
The Asia-Pacific region is currently becoming the most populated region and the main
source of industrial greenhouse gas emissions. Complex production networks have been
formed in this region within globalization and influenced emission intensity and composition
variation across countries. We analyze the CO2 emissions embodied in global value chains(GVCs) in three Asia-Pacific countries, China, Indonesia, and Australia, and conduct a
comparative analysis of the impact of trade structure transition on emissions in the three
countries. The GVC analysis provides a clear framework for understanding the emissions
quantities and intensity embodied in different fragments of cross-border trade. The results of
our analysis show that China and Australia have rising emissions intensities in GVC
participation that gradually exceed domestic goods production. Despite Australia's more
active participation in global emission reduction actions, its forward participation in GVCs
has led to increase of its high-emission-intensity products being exported. At the same time,
the backward GVC participation emission reflected by the domestic final consumption also
shows the growing trend. On the other hand, China has become a ""transit station"" foremissions embodied in the GVCs. While Indonesia reflects slower growth in local emissions,more emissions come from global value chains. Our results imply that mitigation actions
require cross-border cooperation and collaboration to ensure that low-carbon technologies
are applied across borders of production networks rather than focusing on specific countries
and high-emitting industries.

Abstract
Saturday, 18 March 15:20-16:00 (Venue D (S306))
Keynote Speech
Chair： Nobuhiro Okamoto (Daito Bunka University)

Manuel Alejandro Cardenete(Universidad Loyola Andalucia, and Georgetown University)
Designing Public Policies with Multisectorial Models: Present and Trends

Saturday, 18 March 16:10-16:50 (Venue D (S306))
Klein Prize Awardee Speech
Chair： Mikio Suga (Hosei University)

Richard Wood
(Norwegian University of Science and Technology / University of Newcastle)
Adding Country Resolution to EXIOBASE: Impacts on Land Use Embodied in TradeAbstract
Sunday, 19 March 10:00-12:00 (Venue A (S301))
Organized Session 1:
Challenging Real-time Economy Through IO Techniques
Chair： Kaya Akagi (Chiba University of Commerce)
Kaya Akagi (Chiba Univesity of Commerce)
What Does E-invoice Data Bring to SNA and Real-Time Economy?
Governments are planning to utilize big data for economic statistics. The large volume, highvelocity, and variety of information define big data. In the context of statistical application, thevolume and variety of accounting data, especially e-invoice data, have attracted muchattention. The e-invoice data is being digitized mainly in Europe to detect VAT fraud. However,accounting data contains almost all the information on economic entities that make up the
SNA. Therefore, by utilizing the accounting data, the government will be able to grasp
various economic indicators that have been difficult to handle at the granularity of the firmlevel. At the same time, frequently updated information such as e-invoice data is attracting
attention worldwide to acquire velocity, i.e., speeding up statistics and renewing them in realtime, called the ""Real-Time Economy. In contrast, there has been no theorization andverification of the estimation method of SNA with e-invoice data. Therefore, this study
discusses the benefits of utilizing e-invoice data for economic statistics, especially for InputOutput Tables, and the feasibility and the obstacles associated with using e-invoice data.
The advantages of e-invoicing data include the improvement of the granularity of statisticalinformation and the frequency of updating. We also discuss the possibility of understanding
inter-industry relations as a logistics network beyond the framework of the existing tables.
On the other hand, to use invoice data, it is necessary to design a legal and information
system for e-invoice data. As for these institutional and system issues, we compare thesituation in Japan and advanced e-Government countries such as Estonia. In addition, there
are some problems with the invoice data in estimating the Input-Output Tables, such as theinability to grasp transaction relationships and margins within the same company. This paper
pointed up these problems and their solutions.

Takaya Ohsato (Shiga University)
Input-Output Analysis Using Transactions between Companies Data
The Japanese invoice system is scheduled to be launched in 2023, and transactions amongfirms are expected to be formalized and utilized in the input-output table. However,specialized companies conduct credit checks on companies, and information on transaction

Abstract
data between companies is collected including small and medium-sized companies.
In this study, before the transaction data through the invoice system, the transaction data at
TEIKOKU DATABANK LTD. was used to represent logistics. Credit surveys are conductedon head offices to grasp the flow of money transactions between companies, and do not
capture transactions by product at production and distribution centers. On the other hand,
the Input-Output table is compiled from statistical information such as the Economic Census,
the Current Survey of Production, and prefectural governments' commodity distribution
surveys, and represents logistics by commodity. There is a large discrepancy between thetwo statistics depending on the purpose of the survey. This problem also occurs in the useof invoice information for making the input-output table. This study attempted to represent
the logistics supply chain by combining transaction information between headquarters andbusiness location information to solve this problem.
The supply chain tends to be aggregated by trading companies in the corporate data, making
it difficult to reproduce a complete input-output table. To find the value of an aggregate
corporate supply chain information table, this study takes Ichikawa City, Chiba Prefecture,
as an example and examines dynamic changes in industrial structure in a small region
through time-series comparisons.

Junichi Ozaki (Tokyo Institute of Technology)
An Application of Firm-level Input-Output Analysis: Tracking Money Stream andCategorizations of Firms
Recently, economic big data has attracted much attention because it is used for renewing
the census or statistics of the economy in higher resolution. For instance, private-sector big
data and e-invoice data are discussed to be utilized to capture both the firm and inter-firm
trading status, leading to comprehensive Input-Output analysis, which can track any flow inthe economy. Here, we propose an application of an Input-Output analysis that can utilize
the big data of the firm-level granularity. We use private-sector big data provided by Teikoku
Databank to estimate the money flow between firms through the gravity interaction model
for money transport as an example of firm-level granularity data in this study.
The new perspectives from these kinds of big data are not limited to the economic ripple
effect analysis. First, we define the basin of money: the upstream and downstream. The
money stream is tracked on the firm level; where the outflow goes and where the inflow
comes from are estimated for each firm. The influence on any industry type or region is
calculated by summing up the basin. Next, we propose a method of categorization of firms
using the upstream and downstream of money. The influence on each industry type,estimated by summarizing the upstream and downstream, directly captures the industry
categorization of the concerned firm. If we define a distance between the basin vector, weAbstractcategorize the firms into several groups with a dendrogram and detect temporal changes in
the firm activity. This represents a new perspective on firms' categorization and activity
analysis.

Hiroshi Deguchi (Chiba University of Commerce)
Production Accounting & Realtime Economy (RTE)
In this presentation, we introduce a new concept of accounting called production accounting.
For this purpose, we extend the accounting postulate for focusing on the multi-dimensional
measurement of account titles on the production process as an input-output system, where
the input is recognized as the credit side, and the output is recognized as the debit side.
Therefore, traditional financial accounting regards an enterprise as the boundary of a system,
whereas production accounting regards a production process as the boundary of a system.
A production process, including service production, consists of several tasks and theirordered connection as a project. Each task is characterized as an input-output system.
Materials, work-in-processes, human capital services, and physical capital services arerecognized as inputs for the credit side, and products, byproducts, and work-in-processes
are recognized as outputs for the debit side. A production project is characterized as anaggregated input-output system of tasks that construct the project. These processes can be
described by an algebraic double-entry multi-dimensional bookkeeping system calledexchange algebra.
By connecting products among firms and households on a transaction chain, we cancharacterize the commodity flow by algebraic multi-dimensional double-entry state space,which is the essential state space for RTE(Real Time Economy).
In this stage, RTE is only one perspective of an economic system where the economic
system is recognized as a real-time captured commodity and service flow among firms andhouseholds, including B2B and B2C transactions. The flow is characterized by algebraic
multi-dimensional double-entry state space. In a firm, a service or goods production and an
investment of human and physical capital are made. In a household, life services areproduced and consumed simultaneously.
How we can develop the life service level under the stable development of the commodity
and service network under the real time observation and control of the network. We have toconstruct the state space of the network by introducing production accounting to the firms.
Without constructing new realities of multi-dimensional double-entry state space, we cannot
construct the RTE system as an observable and manageable system.

Abstract
Takao Terano (Chiba University of Commerce)
Micro-Macro Link in Agent-Based Modeling and Accounting Research for Real Time
EconomyAgent-Based Modeling (ABM in short) is one of emerging modeling techniques to uncovercomplex characteristics of social and economical complex adaptive systems. ABM treats
the minimum components of a society as groups of individuals. It will model systems fromthe bottom up using multiple actors called ‘agents’, each with an internal state, decisionmaking and/or problem-solving capabilities, and communication ability, and then to analyze
the resulting generative phenomenon and scenarios based on their interactions. In
accounting research, therefore, an agent is can 1) be a model of a firm with some accounting
capabilities, 2) communicate with each other in a firm network, and 3) a component of a RealTime Economy (RTE) system.
ABM has several unique characteristics as follows.
1) At the micro level, agents have individual internal states, and behave and adapt
autonomously in their attempts to exchange information and solve problems.
2) Macro-level properties of the target system emerge from the collective actions of theagents.
3) Micro–macro links are created between agents and the surrounding environment, and thesystem state changes as they affect each other.
This approach is useful in analyzing macro phenomena created by agent–agent
interactions at the micro level, as well as the phenomenon of micro–macro links whereby
agents are subject to top-down effects. In this respect, ABS is applicable to the system ofcoevolutionary interaction between firms. Therefore, the research on both ABM and RTE
should be integrate in a seamless manner.
This presentation introduces the concepts of ABM and its relationship between RTE andaccounting systems. As an example, we will show the study of constitutive analyses ofstructural changes in subsystems in a rapidly changing external environment using agent
simulations. Mukai et al. developed functions of an agent for the inter-business trading
structure model, an inter-business trading structure model in which a group of firms
spontaneously constructs and reorganizes their trading networks by changing production
items and trading relationships.

Abstract
Sunday, 19 March 10:00-12:00 (Venue B (S302))
Organized Session 3:
Development and Policy Impacts of Climate Mitigation in India Using Input-Output
Techniques
Chair： Tejal Kanitkar (National Institute of Advanced Studies)
Nisarga R (ESG Models and R&D, MSCI)
Carbon implications of eradicating poverty in India
Poverty eradication and stabilizing climate change are the primary challenges of sustainable
development. Eradicating poverty results in an increase of household consumption whichleads to more GHG emissions at current levels of technology. Annex-I nations havehistorically emitted majority of the GHGs causing climate change. This further constrains the
carbon space available for developing nations. There have been limited quantitative
analyses examining the compatibility of these goals, particularly for large developing
countries such as India. This study analyses if eliminating poverty by 2030 at different
poverty thresholds puts India at the risk of overshooting the available carbon budget.
Household consumption from the NSSO’s consumption expenditure survey is integrated
with an environmentally extended, multi-regional input output model (MRIO) to estimate theadditional emissions than can be attributed to poverty eradication. The findings show thateliminating extreme poverty (<$1.9 per capita a day at PPP) and poverty below $3.2 percapita a day does not jeopardize climate goals. However, the ambitious poverty threshold of$5.5 could make it challenging to limit GHGs. Poverty eradication is crucial to build resilienceagainst the impacts of climate change and hence must be centered as a developmental
priority.

Anjali Sharma (Azim Premji University)
An Input-Output Based Analysis of the Labor Impacts of Clean Energy Transitions in
India
This paper presents an analysis of the impact of clean energy transitions on employment
generation in India. The inevitability of climate action means that India needs to rapidlytransition to a low-carbon economy while working towards its development goals. In thispaper, I specifically look at the development target of employment generation and explore
the labor impacts of clean energy transitions in the power sector. The Indian government hasannounced ambitious plans for renewable energy deployment in the country. However, dataon current levels of employment in renewable energy (RE) sectors remains scarce andAbstract
scattered. Moreover, employment projection studies for the power sector mainly focus on
estimating direct employment in solar and wind sectors, and do not provide economy-wide
projections for the whole power sector.
In this paper, I first present a review of the labor estimates RE sectors in India, based on
primary and secondary data sources such as industry surveys, and government reports.
Then, I present estimates for economy-wide employment from power generation in India forthe year 2030 under different decarbonization scenarios. The results show that that the total
job creation in scenarios with accelerated RE deployment is relatively lower than businessas-usual scenarios on account of lower total power generation in the former scenarios, andgreater economy-wide labor impacts associated with the coal sector. Moreover, even withaccelerated RE deployment, coal jobs constitute 65-75% of the total jobs from power
generation as coal remains the major fuel for power generation in India for the next decade.
Majority of the jobs in RE sectors are created from solar generation. Estimates for total
number of jobs from solar PV under different scenarios with accelerated RE deployment
vary between 1.2-3.3 million, whereas wind jobs vary between 0.3-0.4 million.

Joan Shilpa Kiran (National Institute of Advanced Studies)
A Review of the EXIOBASE, EORA and WIOD Database Using the Case Study of India
Global Multi-Region Input-Output databases are used extensively in economic, energy andenvironment analyses. While the construction of these tables is complex, the databases
built using different methods produce different outcomes and results. In this paper, I review
three of the widely used databases- EXIOBASE, World Input-Output Database (WIOD) andthe EORA database. The paper delineates the primary characteristics of each of these
databases and compares the mains constituents of these tables such as the methodology
of construction, sector detail, data coverage etc.
The robustness of these databases is investigated using India as an illustrative example.
The extent of divergence of each of these tables from the national Input-Output (IO) table for
India is investigated. Further, an impact analysis is conducted for India on the national IO
table and on the IO tables from each of these databases. The results obtained from thenational IO and each of these databases are compared as well as results obtained acrossthe databases are also compared to outline the different analytical outcomes obtained. The
results are used to identify and explore the factors underlying the variations. The study will
help in augmenting the robustness of these databases. This will in turn help in improving thecredibility of environmental and developmental policies framed based on analyses
conducted on these databases especially for developing countries like India.

Abstract
Sunday, 19 March 10:00-12:00 (Venue C (S303))
Other Topics
Chair： Takashi Yagi (Meiji University)
Vladimir Motorin (National Research University)
The Counterpart of RAS Method
Well-known and widely used in input-output studies, RAS method is closely associated witha more general notion of the non-negative function called the Kullback - Leibler divergencethat is used in the information theory for comparing “true” and “test” probability distributions.
This function actually expresses the difference between the cross-entropy of two
distributions and the entropy of “true” probability distribution. At the same time, however, theKullback - Leibler divergence is not a distance function really, because the symmetry
condition and triangle inequality condition do not hold for it. The RAS method emanatesfrom a conditional minimization of Kullback - Leibler divergence under not-so-evident choiceof the initial matrix as a data array for “test” distribution and the target matrix as another arrayfor “true” distribution (so all elements of initial and target matrices are implied to benonnegative). More natural (from viewpoint of information theory) opposite order ofarguments in Kullback - Leibler divergence function generates an other method of matrix
updating that can be called a counterpart of RAS method, or simply “CRAS method”. In
the paper the optimal solution of corresponding constrained minimization problem with
Kullback - Leibler divergence as an objective function is determined by the system ofnonlinear equations, and two iterative algorithms for estimating the target matrix by the
proposed CRAS method are developed. Special attention is paid to exploration of someproperties of CRAS method in comparison with regular RAS method. Several illustrative
numerical examples are given.

Sumanta Kumar Saha (Ritsumeikan University)
Impact of Financial Inclusion on Economic Growth in Developing Countries
This study analyzes the impact of financial inclusion on economic growth in 104 developing
countries during the 2004–2019 period. We construct a novel composite financial inclusionindex and apply the two-step system generalized method of moments (GMM) panel
estimation method to examine the impact of financial inclusion. The results indicate that
financial inclusion positively correlates with economic growth in developing countries but notin high-income countries. This study shows that financial inclusion affects economic growth
primarily by expanding opportunities for lower-income people. With increased financial

Abstractaccess, those in the lower-income bracket can expand their economic activity, which resultsin economic growth in developing countries. The study supports this argument by showingthat financial inclusion contributes to poverty and income inequality reduction in developing
countries by opening up different opportunities for previously financially excluded lowerincome people. In high-income countries, access to financial services is already high, andfinancial inclusion may not offer new opportunities to a larger population segment. The study
also compares financial inclusion and financial development and analyzes their impact on
economic growth using the two-step system GMM method. The study finds that financial
inclusion contributes to financial development in developing countries by enhancing thedepth and access to financial services. Besides financial inclusion, the efficiency of financial
institutions and capital markets also influences a country's financial development level. The
findings recommend that policymakers in developing countries may use financial inclusion
to increase economic growth.

Julius Tan Gonzales (Yokohama National University)
Implications of AI Innovation on Economic Growth: A Panel Data Study
The increasing application of artificial intelligence (AI) across firms and industries naturally
warrants a line of research focused on determining its overall effect on economic variables.
As a general-purpose technology, for example, AI helps in production, marketing, andcustomer acquisition of firms, thereby increasing their productivity and consumer reach.
Aside from these, other general effects of AI include enhanced quality of services, improved
work accuracy and efficiency, and an increased overall customer satisfaction. Hence, thispaper hypothesizes a significantly positive relationship between AI and economic growth. In
connection with this, this study aims to gauge the impact of AI on the economy, specificallyon long-run economic growth, in a panel dataset of countries from 1970 to 2019, using thenumber of AI patents as measure of AI. To generate the AI variable, a text search query is
performed to distinguish AI patents from other types of innovations in a public database,distributed across countries and time periods. With fixed effects and GMM estimation, thispaper finds a positive relationship between AI and long-run economic growth, which is higher
than the effect of the total population of patents on growth. In addition, further results indicatethat AI’s influence on growth is more robust among advanced economies, and more evident
towards the latter periods of the dataset.

Abstract
Sunday, 19 March 10:00-12:00 (Venue D (S306))
Environment, Resource and Energy
Chair： Makiko Tsukui (Tokyo International University)
Keiji Ujikawa (Yokohama National University)
A Compilation of SEEA and Application to CGE Model
Recently, SNA and the System of Environmental-Economic Accounting (SEEA), which is anapplication to the environment, have become an international statistical standard as a meansof analyzing integrated policies regarding circular economy / climate change issues and theinteraction with the economy. In 2017, the United Nations Statistical Commission approved
SEEA as statistics for applying the SDGs to policies. In this research, based on SEEA, which
is an international statistical standard, we compile a statistical framework for physical andmonetary evaluation of circular economy and decarbonized society scenarios that also
supports SDGs, based on the stock and flow of materials and energy. Specifically, based on
sectoral environmental data (greenhouse gas, energy input, waste emissions), a part ot
SEEA's air emission account, energy account, and material flow account corresponding to
the SNA supply use table will be compiled. We compile a SEEA material / energy accountand estimate the supply use table for analysis on circular economy / decarbonization society.
Based on SEEA, we will compile an Environmental Extended Social Accounting Matrix(SAM), which will compile a model for SDGs / Applied General Equilibrium (CGE) analysis.
In this model, each substance will be incorporated into the model as variables at the sametime, and scenario analysis of a circular economy / decarbonized society will be performedin correspondence with the policy targets. Currently, SEEA is widely used to provide
information on related policies for policy issues such as circular economy, climate change,and green growth, mainly in EU countries. In addition, a similar statistical framework makes
it possible to apply various indicators of international environmental policies. The
development of SEEA-related indicators has been incorporated into the green growthstrategy in recent years, and it can be expected that its utilization will contribute toenvironmental policy in many cases.

Thao Phuong Nguyen (Ministry of Planning and Investment Vietnam)
The Potential Effects of the Carbon Tax in Vietnam: A National CGE Analyses
The long period focusing on pure economic development has brought Vietnam remarkableeconomic growth. However, at the same time, carbon emissions in the country increasesignificantly. The rising concern about increasing carbon emissions promotes theAbstract
government rethinking its strategy. In 2020, Vietnam has introduced carbon pricing in the
new Environmental Law. Until now, an emission trading system is planned whereas carbon
tax is still under discussion. This research will simulate the effects of a carbon tax on theeconomy and environment. The carbon price of $10/tCO2 will be adopted in this research
while the targeted sectors of a carbon tax will be selected based on their carbon emission
intensity. A carbon tax on output will be modeled under a national static computable generalequilibrium framework (CGE). The initial results show that carbon tax would lead to adecrease in GDP and welfare at different levels depending on targeted sectors. In detail, thecarbon tax on all sectors is more effective in terms of emissions reductions than in the caseof only imposing the carbon tax on the high-carbon intensive sector but not too much. The
carbon tax causes obstacles in terms of economics and welfare. More sectors targeted forcarbon tax results in higher negative effects on the economy and welfare. At the sectorallevel, electricity and carbon-intensive industries are the main contributors to emission
reductions due to the dramatic reduction in their output. In addition, using carbon tax revenue
in financing government activity or reducing income tax would relieve the negative impactsof the carbon tax on GDP and welfare, but reduce the effect of the carbon tax on emissions.

Makiko Tsukui (Tokyo International University)
The Extended Multi-Regional Input-Output Analysis for the World Mineral Asbestos
Flow
Asbestos has been widely used as an industrial material. However, a serious health risk forasbestos has been gradually recognized due to long-term exposure at high concentrations.
Although the WHO has recommended banning asbestos, around 153 developing and semideveloped countries continue using asbestos. In those countries, serious health risks andsocial issues are concerned. Most developed countries have already banned asbestos;
however, they have indirectly induced asbestos mining via a global supply chain. In this study,
we extended the OECD Inter-Country Input-Output (ICIO) Tables in 2014 with the world flowof mineral asbestos to clarify the contribution of asbestos-banned countries to asbestos
mining. Asbestos is mainly produced in Russia, China, Kazakhstan, and Brazil. Mineralasbestos is used as an industrial material for ""Other non-metallic mineral products"" suchas cement, ""Textiles, wearing apparel, leather, and related products,"" ""Motor vehicles,
trailers and semi-trailers"" such as brake lining, and ""Paper products and printing ""in 22
countries. Our estimation results show that asbestos-banned countries induced 204,927
tonnes of asbestos in 2014, which accounted for 10 % of the world's asbestos mining. EU
induced 36,000 tonnes of mineral asbestos mining, and the USA induced 32,000 tonnes,
which is not negligible. Banning the asbestos issue is not only for asbestos-using countries
but also for asbestos-banned countries. Our results encourage international cooperation inAbstractbanning asbestos together with asbestos-using countries and asbestos-banned countries.

Sunday, 19 March 13:00-15:00 (Venue A (S301))
Theory of Input-Output Techniques
Chair： Kazuhiko Nishimura (Chukyo University)
Heming Zhang (Yokohama National University)
The Compilation and Analysis of the 2015 Input-Output Table of Seoul Special City
for the Cultural Industry
Korea’s experience in developing the cultural industry has been remarkable and unique interms of its scale and speed. The Oscar awards movie “Parasite”, the globally popular
Korean band BTS and BLACKPINK, and numerous K-dramas with worldwide records on
platforms like Netflix, have shown the success of Hallyu, the Korean wave, made by the
Korean government in order to globalize and upgrade its economy. Given that the culturalindustry sectors are mainly located in Seoul, the capital of Korea, this paper aims to analyse
the economic effect of the cultural industry of Seoul by the 2015 Input-output table of Seoul
Special City. The 11 sectors cultural industry sectors of Seoul are separated from the original
Input-output table with 165 sectors according to the definition and classification of the culturalindustry from the Cultural Industry Promotion Framework Act enforced by Korean
government in 2021. Different from the definition of cultural industry of other regions theauthor researched before, Korea’s cultural industry is centred on the creative contents
sectors, which means there are less manufacturing sectors but more service and high-tech
sectors in Korea’s cultural industry. Results reveal that the cultural industry of Seoul Special
City has the characteristic of high influence coefficient and relatively low sensitivity coefficient,which is the same as the status of most cultural industry with creative contents sectors being
dominant.

Junmin Lee (Korea Institute for Industrial Economics and Trade (KIET)), Jeonghyun
Kin (KIET)
Analysis of Industry Impact of Container Fare Fluctuations: Using the International
IO (Input-Output) Table
Marine container transportation deals with a wide range of products, including food andhousehold goods, as well as capital goods such as materials, intermediate goods of parts,and machinery, and its importance as a means of transportation is increasing as the global

Abstract
value chain is established. But container fares and their volatility have risen sharply since
the COVID-19 pandemic, adding to global inflationary pressure, raising uncertainties in thedomestic and overseas shipping markets and hampering growth across the domestic
industry, which relies on sea freight for 99.7 percent of its import and export cargo. Therefore,
this study analyze the impact of a sharp rise in container fares on prices in Korea and major
economic regions around the world using a price model based on the International IO(InputOutput) Table. A simultaneous scenario in which container fares in all regions rise 100% at
the same time and individual scenarios in which fares in each region rise 100% individually,
focusing on seven economic regions in Korea, the United States, China, Japan, ASEAN, EU,
and other countries, were analyzed. As a result of the analysis, in the case of a simultaneous
rise scenario, inflationary pressure of 0.8% was induced worldwide, and the impact on
Korean prices was relatively small compared to other regions. In the case of individual rising
scenarios, when container fares in other countries, China, and the EU rose, the impact on
Korean prices was relatively bigger. And Korea's container fare rise had the smallest impact
on own prices. In addition, the impact of the increase in container fares for each region was
differentiated by industry. These results suggest the necessity of establishing a monitoringand prediction system for container fares in major regions and measures to mitigate priceshocks by industry.

Dongae Jo (Bank of Korea)
Price Inducing Effect of the Increase in Import Prices
We analysed price inducing effect of the increase in import prices on Korean PPI and CPI
using the input-output table. In this study, it was assumed that the import price inflation ratein the first quarter of 2022 continued for a considerable period of time. As a result, we foundthat the rise in crude oil, bituminous coal and natural gas prices had huge impacts on PPI
and CPI.

Abstract
Sunday, 19 March 13:00-15:00 (Venue B (S302))
Macroeconomic Modeling and CGE
Chair： Kiyoshi Fujikawa (Aichi Gakuin University)
Hikari Ban (Kobe Gakuin University), Kiyoshi Fujikawa (Aichi Gakuin University)
Global Impacts of China’s Carbon Tax and CO2 Emissions Trading
We analyze the global impacts of industry-specific carbon taxes and domestic CO2
emissions trading in China using a multi-regional computable general equilibrium model. We
run several industry-specific carbon tax scenarios and domestic CO2 emissions trading
scenarios for such energy intensive industries as electricity, non-metallic mineral products,
nonferrous metals, iron and steel, chemical products, paper and publishing, petroleum andcoal products, and air transportation in China. Here, we focus on sectoral impacts on
production, imports and exports, and CO2 emissions in each country and region. As a resultof simulations, the effects on each industry in China can be summarized as follows. (1)Regardless of the introduction of a carbon tax or CO2 emissions trading, CO2 emissions
decrease in the industries with CO2 reduction target. (2) The prices rise accompanied bylower exports, higher imports, and lower production in the industries with carbon reduction
targets. However, the exceptions are paper and publishing and nonferrous metals in which
the share of petroleum and coal products in intermediates inputs is relatively small. (3)Output in the majority of non-targeted industries declines, while there are some industries
where the export and output increase because of the international relative price change.
As to foreign countries and regions, production of paper and publishing, air transportation,
nonmetal minerals, chemical products, and iron and steel increases in most of them. On theother hand, production of electronics and textiles decreases in all foreign countries andregions though those in China increases. Since China relies on Central Asia/Caucasus and
ASEAN for most of gas imports, gas production increases in those regions. China's carbon
reduction policy has a negligible impact on GDP neither in China nor foreign countries andregions. However, it does have some impacts by industry, resulting in carbon leakage. Thisimplies the necessity of border carbon taxes.

Masaaki Kuboniwa (Hitotsubashi University and Yokohama National University),
Yuichi Hasebe (Yokohama National University)
Tracking Global Value Chains Using Global Unit Structure
Exports of a country bring about its domestic value added. Usually, they also need imports,
which induce foreign value added generated in partner countries. This results in trade inAbstract
value added (TiVA) with global value chain (GVC) through production sharing. The
importance of TiVA and GVC has been addressed by major international organizations,
including the OECD, the WTO, the World Bank and so on, since around 2010. Armed with
Ozaki’s insight, we define a new concept of “global or international unit structure (GUS orIUS)” for an Isard-type inter-country input-output system. Employing this concept andaggregated OECD’s inter-country input-output tables (ICIO2021) with 13-country (area),
we visually follow up on variances and invariances of the global value chain during the periodof 1995-2018. Further, we generalize GUS/IUS through augmenting value added (primary
input) into the global Leontief inter-country matrix to track changes in the global value chain
as measured by “unit GVC.” We focus on machinery sectors such as the automobile industry
and computer industry when using multi-sector input-output tables. We also demonstrate
the results of panel regressions concerning the relationships between economic growth andchanges in unit GVC, based on the Leontief multipliers, for some country groups such as
the world (67-country), Europe and so on.

Kiyoshi Fujikawa (Aichi Gakuin University), Hikari Ban (Kobe Gakuin University)
Carbon Leakage in Carbon Taxes and CO2 Emissions Trading
In China, various measures have been taken in recent years to achieve carbon emissions
peeking out by 2030 and carbon neutrality by 2060, one of which is emissions trading. In
July 2021, China launched a national emissions trading system for the power sector. When
ready, emissions trading will be expanded to include petrochemicals, chemicals,
construction materials, steel, non-ferrous metals, paper, and aviation. This paper analyzes
the economic and environmental impacts of an industry-specific carbon tax and domestic
CO2 emissions trading on the Chinese economy using a computable general equilibrium
model. In particular, this paper focuses on carbon leakage and the impacts of expansion of
sector coverage. The following findings were obtained as a result of the simulation analysis.
(1) Introduction of emissions trading mitigates the negative impacts on GDP and equivalentvariation, (2) Emissions trading covering all sectors has the smallest economic burden. (3) If
emissions trading is implemented in eight sectors as is planned in China, the economic
burden may be reduced when petroleum and coal products are excluded. Furthermore, it
was confirmed that the expansion of sector coverage has an impact on carbon leakage.
While lower coal price leads to carbon leakage to non-targeted sectors (conventional carbon
leakage), CO2 emissions reductions in non-targeted sectors (so-called negative carbon
leakage) was observed. For example, the reduction in coal demand of the electricity sector
promotes carbon emission reductions in the coal sector and the price hike in the petroleum
and coal products sector reduces CO2 emissions in the transportation sector andhouseholds. The effect of the former exceeds the effect of the latter to cause positive carbon

Abstract
leakage in China when energy-intensive sectors are not targeted. As more energy-intensive
sectors are included in targeted sectors, the effect of the latter offsets the former to eliminate
carbon leakage.

Sunday, 19 March 13:00-15:00 (Venue C (S303))
Organized session 4:
Analyses on Main Issues in Korean Economy
Chair： Jinmyon Lee (Korea Institute for Industrial Economics and Trade (KIET))
Gahyeon Cheon (KIET), Youngho Lee (KIET)
The Evolution of Embodied Services in Korean Goods Exports
Although various services are embodied in export goods, it is impossible to grasp their value
with existing service statistics. This study estimates the embodied services in Korea's recent
exports as it seeks ways to improve the export competitiveness of the manufacturing industry.
The results of the research carry the following implications. First, it is necessary to deal withthis issue because the estimation method proposed in the previous study involves the
problem of calculating goods inputs in generating a value for embodied services. Second, it
is estimated that 15 to 19 percent of services are embodied in Korea’s export goods, whichmeans that the role of the service industry is critical to the competitiveness of the
manufacturing industry. Third, in the manufacturing industry, the proportion of embodied
services is relatively high in sectors such as automobiles, semiconductors and related
devices, basic chemical products, electrical equipment, electronic signal equipment andtextiles and apparel. However, even in these industries, the importance of embodied services
was found to be different. This implies that in order to improve the export competitivenessand productivity of the manufacturing industry, it is necessary to accurately grasp theservices embodied in the sector and to devise policy measures to improve productivity in theservice sector matched to the characteristics of each industry.

Taehyun Kwon (Bank of Korea)
The R&D Spillover in Korea Using Input-Output Table
Strengthening R&D capabilities is a very important task in the Korean economy, which ishighly dependent on foreign countries and has a large portion of high-tech products exports
like semiconductor. As of 2020, Korea still remains very active in R&D, with the total amountAbstractof R&D ranked 5th in the world and the scale accounted for a percentage of 4.8% of GDP,the second highest after Israel. This kind of R&D is being conducted mainly in Korea's main
manufacturing industries and it is meaningful to measure the spillover of R&D in eachindustry and examine the characteristics.
To this end, the redistribution matrix analysis was applied to Korea's input-output table tomeasure the R&D spillover. In order to apply this method, there is a work that needs to bepreceded. Korea implemented 2008 SNA from 2010 IO table. One of the 2008 SNA
implementations is that R&D is treated as an investment. So this study is to transfer R&D
investment to intermediate demand. For this, I used KISTEP and Korea's BS statistics. As aresult of the 2019 analysis, 8 out of 33 sectors benefited relatively more from R&D and these8 sectors are electronics, automobiles, machinery and equipment, chemicals, electricalequipment, automobiles and ship. On the other hand, the electronics sector, despite
receiving the greatest benefits, does not significantly benefit other industries in Korea whileother sectors appear to benefit other industries in Korea through R&D. This characteristic of
R&D in the electronics sector is thought to be attributable to the fact that the output ofintermediate goods such as semiconductors is large and the demand in this sector is highly
dependent on exports. It can be inferred that R&D in the electronics sector has a large
spillover on the overseas sector.

Yong Kyun Kim (National Assembly Budget Office)
The Effects of A Carbon Tax on the Korean Economy in A More Environment
Conscious Era
This paper looks at how levying a carbon tax affects the economy and the industrial sectorsthat comprise the said economy. The detrimental effects the anthropogenic activities haveon the natural environment are most evident. As a carbon tax is a very cost effective GHG
emission mitigation policy instrument, it is a meaningful exercise to investigate the economic
effects of such a tax. This study utilizes a CGE model that incorporates an ‘industrialorganization’ feature in allowing for imperfect competition to analyze the economy. The
levying of a carbon tax of 10 USD per tCO2e on fossil fuels is shown to lead to a lesser total
GHG emission reduction for the economy in 2018 than in 2010. It appears that the economy
and the industrial sectors of 2018 have lesser room for economic maneuverability to reduce
GHG emissions than 2010. Also, maneuverability in strategic decision making under theimperfect competition assumption leads to a greater degree of change in sectoral outputs in
response to an external shock. This in turn leads to a slightly greater degree of GHG
emissions reduction for the market engaged in imperfect competition.

Abstract
Sunday, 19 March 13:00-15:00 (Venue D (S306))
Regional Input-Output Analysis
Chair： Taku Ishiro (Yokohama National University)
Kazuaki Sato (Tokyo Keizai University)
Multi-Regional Input-Output Analysis of Public Sector in Japan
This study uses a Multi-Regional Input-Output Table to identify the different impacts ofgovernment sector economic activity in different regions. Economic activity in thegovernment sector is categorized as 1) government final consumption expenditure andgross fixed capital formation (public), 2) an increase in private final consumption expenditure
due to cash benefits such as pensions, and 3) a decrease in private final consumption
expenditure through a decrease in disposable income due to taxes. The results of theanalysis are as follows: 1) direct effects are relatively larger in rural areas than in urban areas,
but indirect economic ripple effects are concentrated in Tokyo through the headquarters andpharmaceutical sectors; 2) increased private final consumption expenditures due to cashtransfers are relatively larger in rural areas than in urban areas, but indirect economic ripple
effects are larger than in urban areas; and 3) decreased private final consumption
expenditures through reduced disposable income due to taxes and other factors. The
indirect economic ripple effects are even more concentrated in Tokyo than in 1). In contrast,
both the direct and indirect effects of 3) are found to be concentrated in Tokyo. Whenexamining these effects together, it is important to note that the degree of interregional
redistribution through the government sector varies depending on the assumption of theaverage income propensity with respect to 2) and 3).

Kayo Shiode (Saitama University)
Indirect Effects on the East Asian Steel Industry Arising from the World's Final
Demand for Each Industry
This paper develops a model that uses international input-output tables to measure theindirect production-induced effects on a country's own iron and steel industry that occur whenother countries demand the final goods of each industry. Using this model, an analysis isalso conducted for the major East Asian steelmaking countries of Japan, China and South
Korea. The attempt to understand the impact of final demand in other countries on the steel
industry in their own country is based on the concept of indirect exports in the iron and steel
industry. The iron and steel industry uses an indicator called indirect exports to accurately
determine the demand for steel. This concept considers that when goods are exported, theAbstract
steel used for those goods is also exported at the same time.
This paper uses
international tables to estimate the indirect effects on the iron and steel industry of othercountries' demand for the final goods of each industry. I attempted to apply the method of
estimating indirect exports of steel products using one-country tables proposed in Shiode(2022) to international input-output tables. The analysis showed that what could not be
captured in an analysis of a country's input-output table could be identified in an analysis of
an international table. The analysis of the international tables shows that there is a significant
indirect effect of final demand from the construction industry in other countries. Theinternational tables enable a detailed understanding of the impact of final demand in othercountries on the iron and steel industry in the home country.

Taku Ishiro (Yokohama National University)
Analyzing the Kanagawa Prefecture Economic Area Using Input-Output Tables for All
Municipalities
Input-output tables today are created and published for all Japanese prefectures and cities
designated by government ordinance. However, analyzing the circumstances within eachprefecture using a prefectural level analysis is difficult as industrial and agricultural regions
include various economic areas (e.g., cities or suburban areas). Conversely, there are many
examples of the creation and analysis of municipal input-output tables that analyze
municipalities within prefectures to address the mentioned problem ((e.g., Ishiro (2016),
Ashiya (2017), and Nozaki (2018)). Particularly, the Japan Statistics Research Institute at
Hosei University creates input-output tables for every municipality. In Ishiro and Eto (2020),
I created municipal input-output tables for Kanagawa Prefecture and analyzed thecharacteristics of each region. However, I did not categorize and tabulate the Yokohama andKawasaki Wards in these tables, and the analysis did not categorize all municipalities. In thisstudy, using nationwide municipal input-output tables created during joint research with
Hosei University, I focus on the municipalities in Kanagawa Prefecture and aim to clarify its
internal structure. In this study, I calculated specialization coefficients to explore the overall
economic structure of Kanagawa Prefecture and Yokohama and their municipalities andeconomic zones, respectively. Based on these calculations, I then introduce analysis resultsin this paper.

Abstract
Sunday, 19 March 15:20-16:40 (Venue A (S301))
Organized session 2:
Industrial Policy Evaluation in Developing Countries
Chair： Christian Otchia (Nagoya University)
Christian Otchia (Nagoya University)
Agriculture Development-led Industrialization and Economic Growth
The purpose of this study is twofold. The first objective is to develop a new index ofAgricultural Development-led Industrialization (ADLI) based on recent data from 100
countries over the period 1960 - 2018. The second intention is to use the new index toevaluate ADLI's possible effects on economic growth empirically. Industrial development andindustrial policy have revived interests across developing countries and Africa in particular.
While there is a consensus on industrialization in developing countries, the strategy to adopt
is less clear and still subject to debate. Hence, some scholars suggest ADLI as an alternative
industrial strategy. The concept of ADLI is a national development on agriculture as theprimary industry with a strong emphasis on agriculture-industry linkages and interactions.
Although the definition is less ambiguous, the practical implementation of the strategy varies
across countries. Despite the merits vowed by the pro-ADLI, its economic impact is lessinvestigated in developing countries. Therefore, this study will contribute to the industrial
policy debate and provide empirical evidence of ADLI’s impact on economic growth. Also, itwill provide policy recommendations to strike an appropriate balance between agriculture
and industrial expansion in developing countries.

Nilaphy Phommachanh (Nagoya University)
Impact of Special Economic Zone on Economic Development: Evidence from LaosNightlight Analysis
Special economic zones (SEZs) have become one of the most widely used industrial policies
among many developed and developing countries worldwide in the past decades. However,their impact on the economy is still inconclusive, especially in developing countries where
the lack of data availability presents a challenge. This study examines the causal effect of
SEZ on the economy of Laos using the harmonized nightlight satellite data as a proxy forthe economic activities of 148 districts from 1992-2021. Using the generalized synthetic
control method, this study found that districts with SEZ are associated with a statisticallysignificant increase in economic growth. The paper further disaggregates the effect ofdifferent SEZ sectors and finds evidence to suggest that the clustering of industrial andAbstract
tourism sector SEZs is associated with the highest level of economic activity. Additionally,
the paper examines the effect of a prominent SEZ policy enacted in 2010 and finds that the
district with SEZs created after 2010 shows a higher level of economic growth than thoseestablished before 2010.

Nguyen Thi Minh Thu (Nagoya University)
Do Place-based Polices Foster Structural Change? Evidence at the District Level from
Vietnam
While existing literature has illustrated the role of structural change as a key driver toeconomic development, developing economies worldwide attempt varied policies toenhance structural transformation. Among the policies at hand, place-based policies, withthe establishment of Special Economic Zones (SEZ) as the core, seem to be at the front.
Several studies have shed light on the impacts of SEZs on economic structuraltransformation in India and China, but no empirical evidence has been found in Vietnam yet.
Our study is about to fill in the gap. We rely on newly developed staggered differences indifferences (DID) frameworks to examine the causal effects of SEZ establishments on
structural changes at the district level in Vietnam. Our dataset covers 708 districts from 1992
to 2020. Land cover and harmonized nightlight satellite data are used as proxies for
agricultural and non-agricultural economic activities in Vietnam, respectively. Our results
suggest that SEZ establishments have contributed positively to the industrialization in
Vietnam, i.e., fostering non-agricultural activities while decreasing agricultural performances.
Further analyses allow us to discover heterogeneities in the impacts of SEZs, which areessentially constructed by such SEZs' characteristics as zone locations and developers. The
study contributes to advancing the understanding of SEZs' impacts in Vietnam and mightprovide governments of other developing and transitional countries with policy implications
for their industrialization-based economic development.

Abstract
Sunday, 19 March 15:20-16:40 (Venue B (S302))
Other Topics
Chair： Ayu Washizu (Waseda University)
Usman Alhassan (Ritsumeikan University)
International Remittances and Labour Force Participation in Nigeria: Do Educational
Attainment and Household Income Matter?
Existing studies often predict that international remittances reduce labour supply among
receiving households due to their moral hazard or reservation wage increment effects. This
study investigates the labour supply decisions of individuals in remittance-receiving
households in Nigeria across three occupational choices – self-employed agriculture, wage
employment, and self-employed non-farm enterprise – at both the extensive and theintensive margins. Furthermore, it assesses the heterogeneous effect across individuals’
educational attainment and their household income levels. We extract data for a sample of
61,000 Nigerians of working age from the Nigerian living standard measurement survey of
2018-2019 and applied the instrumental variable PROBIT and TOBIT techniques to address
the problem of endogeneity and the Heckman selection model to address selection bias.
Our findings show evidence of an occupational switch from agriculture to non-agriculturaloccupations. Specifically, receiving remittances decreases both the probability of working
and the hours worked in agricultural self-employment but increases labour supply to wage
employment and non-farm self-employment. Furthermore, our heterogeneous effectanalysis shows that the likelihood of working in both wage employment and non-farm selfemployment is higher among those without formal education while post-secondary educatedNigerians are more likely to reduce labour supply to agricultural activities. Individuals in thelowest income quartile are less likely to work in agricultural self-employment activities while
those in the highest income quartile are more likely to work in wage employment. Lastly, weshow that increasing labour supply to non-farm enterprises increases enterprise revenue,
especially for enterprises in the informal sectors. These findings hold important cues forpolicymakers to promote remittance-based enterprises by reducing remitting costs andtargeting recipient households with policies and programs that ease enterpriseestablishments.

Yiyi Ju (Waseda University), Ayu Washizu (Waseda University), Sayaka Ita (Tohoku
Gakuin University)
The Impact of Sustainable Diets and Smart Food Services on Environment and Wellbeing: a Case of Japanese Households

Abstract
Sustainable diets and smart food services can be effective solutions to achieving SDG 12.3.
The establishment of a smart food system covering more regions is also essential to an
aging society. Given such context, we conducted a questionnaire survey to investigate theimpacts of sustainable diets and smart food services in Japan. The survey covers around6,000 households nationwide and collects the responses of dinners in 3 days. The questions
include the number of menus, the number of all ingredients (22 types), the expenditure onsuch ingredients, the amount of discharged kitchen and plastic waste, the heating time ofeach meal, as well as the attitudes towards household cooking (13 questions) andacceptance to PCs and smartphones (10 questions). Based on the survey results, for all
meals from all respondent families, we quantified the indicator of cooking effort, theconvenience food usage intensity, the direct and indirect CO2 emission from ingredients andcooking, as well as the waste. We also investigated how attitudes toward household cooking
and the acceptance of PCs and smartphones may affect such indicators. The results reveal
the impacts of sustainable diets and smart food services on the environment and well-beingin Japan. Keywords: sustainable diets; smart food services; household survey; cooking
effort; convenience food usage intensity

Sunday, 19 March 15:20-16:40 (Venue C (S303))
Other Topics
Chair： Kazuo Inaba (Ritsumeikan University)
Muhammad Tashfiq Huq (Hiroshima University), Masaru Ichihashi (Hiroshima
University)“Can Historical Economic Growth Patterns be Traced in South Asian Countries assame as the Classical Theory shows?”: A sectoral approach using input-output
analysis
According to the classical theory of economic development like Akamatsu’s Flying Gees
model, many countries would have similar development patterns from agriculture-based
sectors to processed or labor-intensive industries as a long-run development. This paper
identifies some common development patterns in 6 South Asian Lower Income Developing
Countries (LIDCs), using three periods of the input-output table with a novel decomposition
technique derived from a conventional way. Our results show that labor-intensive and lightmanufacturing sectors along with some high-value-added service sectors are the mostpromising sectors in these countries. Food, Basic metal & Textiles sectors are found to becommonly growing manufacturing sector in most countries. Service sectors like Construction,
Electricity and Transport are also steadily surging. Among our targeted South AsianAbstract
countries, only Vietnam has been developing many types of diversified sectors inmanufacturing from traditional labor-intensive sectors to high technology-oriented sectors. It
means that Vietnam might achieve to advanced stage faster than other Asian countries.
Additionally, we have found some prospective accelerating sectors like- Manufacturing &Recycling, NEC; Basic Metal; Rubber etc. for these countries which could not be identified
as key sectors through traditional Structural Decomposition Analysis (SDA). It indicatesthese countries have started to diversify their industries which are different from theirtraditional key sectors, which is in accordance with Flying Gees model.

Ei Ei Thein (Ritsumeikan University), Atsushi Niigata (Ritsumeikan University), Kazuo
Inaba (Ritsumeikan University)
Information Transparency, Collateral Problem and Bank Credit Accessibility of Smalland Medium Enterprises in ASEAN Countries
Financial constraint is one of the biggest obstacles which harm the growth of small andmedium enterprises (SMEs) especially in developing countries. Information asymmetry
leads banks to rely on collateralized lending and hinders SMEs from accessing bank loans.
Information and communication technology (ICT) and audited financial statements (FSs) canbring SMEs’ information towards banks. The previous studies pay less attention to therelation of ICT and FSs to SME financing. This study investigates whether ICT adoption andFSs can improve SME financing and whether they influence collateral requirements inaccessing bank loans in eight ASEAN countries, based on the World Bank Enterprise Survey
data. The data analysis shows that in ASEAN region, about half of the SMEs which apply fora loan cannot achieve bank credit. 78.7% of SME loans are collateralized loans. Only 56.9%
of SMEs in the sample use ICT and 33.7% keep audited FSs. The analyses reveal that ICT
adoption and preparing FSs have a positive significant contribution to SMEs’ bank credit
accessibility. SMEs with ICT and FSs have less probability of collateral requirement inaccessing bank loans than those without. The results show that SMEs can enhance theirfinancial availability by improving their qualifications; ICT adoption and preparing FSs. Since
the audited FSs supply reliable data for tax collection, supporting SMEs to keep audited FSs
will be beneficial to not only SMEs but also tax authorities. The results expose significant
policy implications for promoting SME financing in ASEAN countries. This study will also
conduct robustness tests and investigate the differences in the impacts of ICT and FSs
between SME financing and large business financing. Key words: Collateralized lending,bank credit accessibility, information and communication technology, financial statements

Abstract
Sunday, 19 March 15:20-16:40 (Venue D (S306))
Compilation of Input-Output Table or SUT
Chair： Satoru Hagino (Statistics Commission Office)Nagendra Shrestha (Yokohama National University)
Construction of Real Priced Global Input-Output Tables
This paper attempts to estimate Global Input-Output Tables valued at 2005 price. We use
Inter-Country Input-Output (ICIO) Tables published by Organization for Economic Cooperation and Development (OECD), United Nation’s Comtrade Database (UN Comtrade),industry-specific producers price indices collected from various sources, Exchange rate datafrom the World Bank, and industrial output and value-added data published by United
Nations Industrial Development Organization (UNIDO) to construct Real priced Global InputOutput (RGIO) Tables for years 2000 to 2018. The new RGIO tables cover 15 manufacturingindustries, and 9 Asian, 7 European, three North American countries among others. The
new RGIO and nominal priced GIO tables are used to analyze how changes in gross output
and value-added are affected by price and exchange rate changes along with the final
demand change and technological change (in precise, change in Leontief inverse matrices)
based on International Structural Decomposition Analysis (SDA). The preliminary results
show that price and exchange rate changes affect significantly on the gross output andvalue-added for manufacturing industries, which may not be explained by results based on
nominal valued tables only. It is simply because the nominal table uses current year priceand common currency valuation (in most of the cases US$) such that the changes in priceand exchange rate may not be explicitly addressed.

Thao Thi Bich Dang (University of Tsukuba), Duong Lam Anh Tran (University ofTsukuba), Morito Tsutsumi (University of Tsukuba)
Constructing Regional Input-Output Table in the Context of Data Limitation: the Caseof Vietnam
The inter-regional input-output table is not commonly available in many countries except forJapan because of several reasons. Among three common methodologies to construct theinter-regional input-out table, while the survey and hybrid methodologies are costly, the nonsurvey methodology usually encounters the problem of unavailable inter-regional data.
In this paper, the inter-regional input-output table of Vietnam 2020 is constructed in thecontext of limited data. The table includes 7 regions and 16 sectors. The methodology
requires limited data including (i)national input-output table, (ii)labor data divided by regions

Abstractand sectors, (iii) value-added data divided by regions and sectors and (iii)distance between
centroids of seven regions.
Different methodologies are applied for intra and inter-regional estimates. The intraregional estimates are based on the well-known FLQ methodology. The common
methodology for inter-regional estimates is gravity modelling. However, this methodology
requires trade flow data of at least one year in the past which is not available in Vietnam.
Instead of using gravity, a mathematical programming model is used, in which transportation
cost is minimized giving constraints of regional supply and demand. This methodology
allows interregional cross-hauling. The methodology is tested using Japan regional inputoutput table 2005 which shows good estimates, before applying for Vietnam case.

International Conference on Economic Structures 2023
Hosei University, Japan, March 18-19, 2023
General Organizing Committee
・Mikio Suga (Hosei University)
・Yoshifumi Ishikawa (Nanzan University)
・Masaru Ichihashi (Hiroshima University)
・Keiji Ujikawa (Yokohama National University)
・Nobuhiro Okamoto (Daito Bunka University)
・Takashi Saito (Kyorin University)

Scientific Program Committee
・Ken Itakura (Nagoya City University)
・Yoshifumi Ishikawa (Nanzan University)
・Masaru Ichihashi (Hiroshima University)
・Keiji Ujikawa (Yokohama National University)
・Nobuhiro Okamoto (Daito Bunka University)
・Mikio Suga (Hosei 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) 21HP2002,
And supported by Hosei University.