Regional Economic Interdependency in an Open Economy : An Introduction
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In this article I present an estimation procedure for regional economic variables which determine regional economic independency or autonomy such as export and import using some statistical data. In recent years not a few regions have been experienced a dependency on Tokyo central region in many respects and also been noticed thin effects of past policies in order to vitalize regional economies. The most important point is that local government does not recognize spillover effect which is derived from implementing regional policies. For examples, some materials are imported from outside the region even if local government invests on public capital formation, or some amounts of output sales are often transferred to headquarters at Tokyo from local factories. The local government, Akasaka−cho in Okayama Prefecture, has noticed the above situation and made a research project evaluating regional spillover/spillin effect in monetary term, which means to construct small region’s IO table in an extended version. As a result, Akasaka−cho grasped the circular−flow−of−the−economy constitution of the area, and carried out the policy evaluation analysis using it and succeeded to introduce regional money circular type factory and also job−creating industry. However, the case like Akasaka−cho is a very unique. To conduct such a research it is necessary for local governments to prepare both much time and money. Thus, this paper showed the model which estimates one section of a regional economy circulation constitution from such enquiry and the existing statistical data, and the example of an actual proof in the Tsuyama City zone is shown. By doing this procedure, we can identify which industry is baasic or nonbasic or which industry is effective for spreading an economic consequence. I want to develop the estimation procedure of an expenditure side from now on, to combine with a questionnaire or hearing enquiry, and to build the means of grasping the circulation constitution of regional economy comprehensively.
The Economic Association of Okayama University
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