외생화 및 내생화 기법을 이용한 산업연관효과 비교 분석: 주거용 건물 건설업을 중심으로
Comparative Analysis of Exogenous and Endogenous Methods on Industry Spillover Effects Based on Residential Building Construction Sector
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The paper studies the effects of endogenous and exogenous methods in the input-output analysison measuring the economic spillover effects. In order to analyze the spillover effect due to theincrease in the demand or expenditure of a specific industry rather than the final demand such asconsumption, investment, and export, which is the ultimate objective of production activities, weneed to modify the baseline input-output coefficient matrix and make the industry exogenous toobtain a net economic spillover effect due to the increase in demand from the industry. If theexogenous method is not applied, the spending increase of the industry will lead to an increase inthe intermediate demand for itself, and the economic spillover effect would not be properlyaccounted for. This study aims to investigate magnitudes of the economic spillover effects usingexogenous methods along with various forms of endogenous final demands based on residentialbuilding construction. Our empirical investigation reveals that the economic spillover effects when exogenous methodis not applied are higher in all cases than those when exogenous method is applied and thesedifferences are quite significant, indicating the spillover effects can be easily misled or misrepresented. These results suggest that it is necessary to pay more attention to the
Abstract
The paper studies the effects of endogenous and exogenous methods in the input-output analysison measuring the economic spillover effects. In order to analyze the spillover effect due to theincrease in the demand or expenditure of a specific industry rather than the final demand such asconsumption, investment, and export, which is the ultimate objective of production activities, weneed to modify the baseline input-output coefficient matrix and make the industry exogenous toobtain a net economic spillover effect due to the increase in demand from the industry. If theexogenous method is not applied, the spending increase of the industry will lead to an increase inthe intermediate demand for itself, and the economic spillover effect would not be properlyaccounted for. This study aims to investigate magnitudes of the economic spillover effects usingexogenous methods along with various forms of endogenous final demands based on residentialbuilding construction. Our empirical investigation reveals that the economic spillover effects when exogenous methodis not applied are higher in all cases than those when exogenous method is applied and thesedifferences are quite significant, indicating the spillover effects can be easily misled or misrepresented. These results suggest that it is necessary to pay more attention to the