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The role of ICT productivity in Korea-Japan multifactor CES productions and trades

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  • Jiyoung Kim
  • Satoshi Nakano
  • Kazuhiko Nishimura

Abstract

In this paper, we examine the economic impact of information and communication technology (ICT) innovation, within a general equilibrium framework of empirically estimated constant-elasticity-of-substitution (CES) production frontiers. Such innovation generates not only productivity growth and price changes, but it also triggers changes in the economic structure of production and trade patterns. This process ostensibly increases the social welfare. To study the impact of ICT innovation, we construct a bilateral general-equilibrium model that spans 350 commodities and sectors of trade between Japan and the Republic of Korea. We estimate all CES parameters from published statistics, including linked input–output tables and Comtrade databases. A small exogenous productivity shock in the ICT is examined in terms of potential price reductions of all commodities in both countries.

Suggested Citation

  • Jiyoung Kim & Satoshi Nakano & Kazuhiko Nishimura, 2021. "The role of ICT productivity in Korea-Japan multifactor CES productions and trades," Applied Economics, Taylor & Francis Journals, vol. 53(14), pages 1613-1627, March.
    • Handle: RePEc:taf:applec:v:53:y:2021:i:14:p:1613-1627
    DOI: 10.1080/00036846.2020.1841084
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    Cited by:

    1. Zhu, Minglei & Huang, Haiyan & Ma, Weiwen, 2023. "Transformation of natural resource use: Moving towards sustainability through ICT-based improvements in green total factor energy efficiency," Resources Policy, Elsevier, vol. 80(C).

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