Multiplier Decomposition in the Textile Industry among Korea, China and Japan : Focused on the World Input-Output Table
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In this study, using the 2011 World Input-Output Table published by WIOD in 2015, multiplier effects in the textile industry among Korea, China and Japan are decomposed. The World Input-Output Table includes input-output tables from a total of 40 countries consisting of 27 EU countries and 13 other countries from the rest of world. In this study, the data was re-categorized into four countries of Korea, China, Japan and other countries, and the industries are reclassified to 34 sectors for the reanalysis. When final demands of the textile industry in Korea increase by 10,000 units, the influences on both China and Japan were intensively analyzed. The summary of the analyzed results in this study and suggestions for policies are as follows:First, as a result of decomposing the multiplier effects among Korea, China and Japan, for intra-country(domestic) multiplier effect, China accounted for the highest(about 3.1 times), then Japan(about 2.12 times) and Korea(about 2.10 times) followed in order. Korea should make an effort to double domestic multiplier effect by studying the domestic intermediate transactions and adding value chains. Second, for spillover effects by each other among Korea, China and Japan, Korea accounted for the highest value on China with 3,116.46 units, and Japan also accounted for the highest one on China with 2,949.58 units. However, China accounted for relatively lower effects on Korea and Japan. China has a broad domestic market and its domestic multiplier effect is high, but Korea has a low domestic one. Korea requires a strategy to raise the domestic multiplier effect by expanding the domestic market and strengthening input-output structure within its textile industry. Third, for feedback effect, China was the highest with 59.77 units while Korea and Japan accounted for lower values 37.11 units and 36.40 units, respectively. Finally, to develop the Korean textile industry, the input-output structure between China and Japan should be precisely analyzed and then the solutions for raising competitive power should be sought.
Abstract
In this study, using the 2011 World Input-Output Table published by WIOD in 2015, multiplier effects in the textile industry among Korea, China and Japan are decomposed. The World Input-Output Table includes input-output tables from a total of 40 countries consisting of 27 EU countries and 13 other countries from the rest of world. In this study, the data was re-categorized into four countries of Korea, China, Japan and other countries, and the industries are reclassified to 34 sectors for the reanalysis. When final demands of the textile industry in Korea increase by 10,000 units, the influences on both China and Japan were intensively analyzed. The summary of the analyzed results in this study and suggestions for policies are as follows:First, as a result of decomposing the multiplier effects among Korea, China and Japan, for intra-country(domestic) multiplier effect, China accounted for the highest(about 3.1 times), then Japan(about 2.12 times) and Korea(about 2.10 times) followed in order. Korea should make an effort to double domestic multiplier effect by studying the domestic intermediate transactions and adding value chains. Second, for spillover effects by each other among Korea, China and Japan, Korea accounted for the highest value on China with 3,116.46 units, and Japan also accounted for the highest one on China with 2,949.58 units. However, China accounted for relatively lower effects on Korea and Japan. China has a broad domestic market and its domestic multiplier effect is high, but Korea has a low domestic one. Korea requires a strategy to raise the domestic multiplier effect by expanding the domestic market and strengthening input-output structure within its textile industry. Third, for feedback effect, China was the highest with 59.77 units while Korea and Japan accounted for lower values 37.11 units and 36.40 units, respectively. Finally, to develop the Korean textile industry, the input-output structure between China and Japan should be precisely analyzed and then the solutions for raising competitive power should be sought.
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