Toward Asian KLEMS
Kyoji Fukao
Kyoji
Fukao
Hitotsubashi University and RIETI
1
Ideas about analytical use of the Asian KLEMS data
Since many Asian countries are under dynamic Since
many Asian countries are under dynamic
development process, it is interesting to analyze changes of industrial structure and capital h
fi d t i l t t
d
it l
deepening.
• For example, labor productivity growth might be mainly caused by change of industrial structure (Of course, usually capital deepening occurs g )
behind this change.) .
• Does capital deepening occur within each industry or though expansion of capital intensive
industry or though expansion of capital intensive sectors?
2
25,000
Per capita GDP (1990 Int. GK$) China h
India d
20,000
Japan p
15 000
15,000
10,000
5,000
2007
2004
2001
1998
1995
1992
1989
1986
1983
1980
1977
1974
1971
1968
1965
1962
1959
1956
1953
1950
0
3
Comparison of sectoral labor productivity (primary=1)
6
5
4
3
Secondary
Tertiary
2
1
0
Notes:
Subsidiary occupations are taken account of for periods before the Second World War.
Data before 1965 are on a per worker basis. Data from 1973 are on a man-hour basis.
The primary sector consists of agriculture, fishery and forestry. The secondary sector consists of mining,
manufacturing and construction. The tertiary sector consists of all other sectors except imputed rent.
Sources:
Data for periods between 1885-1940 are from Osamu Saito and Tokihiko Settsu (2009), "Unveiling historical
occupational structures and its implications for sectoral labour productivity analysis in Japan
Japan’ss economic growth,
growth,"
paper presented at INCHOS 2009, 28-30 July 2009, King’s College, Cambridge, p. 31, table 11.
Data for periods between 1947-65 are from Ohkawa, K. and M. Shinohara, eds., (1979), Patterns of Japanese
Economic Development: A Quantitative Appraisal (New Haven: Yale University Press), p. 41,Table2.12.
Data for periods after 1970 are from the JIP Database 2009.
4
Distribution of Workers Across Sectors in Asian Countries
40.00
Agriculture
90.00
Manufacturing
55.00
Services
1952年
80.00
50.00
35.00
1960
年
70.00
1978年
60.00
45 00
45.00
30.00
2004
年
40.00
2006年
25.00
1958
35.00
50.00
2006年
20.00
40 00
40.00
Chi na 1952
1952-2006
2006
2006年
25.00
15.00
Indonesia
30.00
30.00
1978年
Korea 1963-92
20.00
Ma l aysia
20.00
10 00
10.00
Phi lippines
15.00
Ta i wang
10.00
5.00
1952年
1978年
10 00
10.00
Tha iland
India 1960-2004
0.00
1952年
0.00
6.00
7.00
8.00
9.00
5.00
6.00
7.00
8.00
9.00
6.00
7.00
8.00
Source: The Conference Board and Groningen Growth and Development Centre, Total Economy Database,
http://www.conference-board.org/economic) and World Bank World Development Indicators　(2007）.
5
9.00
Gross Investment‐GDP Ratio
60.0 China 50.0 China
2008
India Japan India
2004
h
,1993
1
China
1978
40.0 India
2008
30.0 1999
20.0 1955
10.0 1952
1950
Per capita GDP (1990 Int. GK$) $
0.0 100
1,000
10,000
100,000
6
Decomposition of Increase of Capital Service‐Labor Service Ratio in Japan (annual average growth
in Japan (annual average growth rate) 8.0%
7.0%
6.0%
5.0%
4 0%
4.0%
3.0%
Total
Within
Between
2 0%
2.0%
1.0%
0 0%
0.0%
‐1.0% 70/75 75/80 80/85 85/90 90/95 95/00 00/05 05/06
7
Decomposition of Human Capital Accumulation in Japan (annual (
average growth rate)
average growth rate)
1.6%
1.5%
1 4%
1.4%
1.2%
1.0%
1.2%
1.1%
1.0%
Total
1.0%
0.8%
0.6%
0.4%
0.2%
0 0%
0.0%
0.7%
0
7%
0.7%
0.6%
0.6%
0.6% 0.6% 0.6% 0.5% 0.6%
0.6%
0.5%
0.4%
0 4%
0 3% 0.4%
0.3%
0.3%
0
3%
0.2%
0.2%
0 0%
0.0%
Within
Between
0.1%
70/7575/8080/8585/9090/9595/0000/0505/06
8
Analysis on impact of economic crisis
Gross fixed capital formation/GDP
((at current prices)
p
)
45.0%
40.0%
35.0%
30.0%
25.0%
20.0%
15.0%
10.0%
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
Capital Capital
accumulation slowed down l
dd
sharply in crisis‐hit Asian p g
developing economies
Indonesia
Philippines
Thailand
Malaysia
Korea
Japan
Source: Asian Productivity Organization, APO Productivity Database.
9
1 80
1.80 Labor Productivity (Real GDP/total hours worked 1996=1)
1.60 A Large Drop and A
Large Drop and 1.40 Slow Recovery in 1.20 Productivity
1.00 0 80
0.80 0.60 0.40 0.20 0.00 1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
In Thailand and In
Thailand and
Indonesia, it took ten years for labor y
productivity to recover to pre‐crisis levels.
Indonesia
Philippines
Thailand
Malaysia
Korea
Japan
Notes: Labor productivity for Malaysia is measured as real GDP/total numer of workers. 10
A Large Drop and Slow Recovery in
Recovery in Productivity TFP (1996=1)
1.50 1.40 1.30 1.20 1.10 1.00 0 90
0.90 0.80 0.70 0.60 0.50 1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
With regard to TFP the
TFP, the recovery to pre‐
crisis levels in
crisis levels in Thailand and Indonesia took
Indonesia took even longer.
Indonesia
Philippines
Notes: TFP data for Malaysia are not available.
Source: APO Database 2010.
Thailand
Korea
Japan
11
TFP Growth in the Market Sector: by Sector and by Country
Manufacturing, excluding
electrical machinery
Electrical machinery, post
and communication
3.0
3.0
10.0
9.0
8.0
7.0
60
6.0
5.0
4.0
3.0
2.0
1.0
0.0
Other goods-producing
industries
2.5
2.0
2.0
1.0
1.5
-1.0
US
Italy
UK
France
F
Geermany
Korea
US
S
Italy
y
UK
K
Francee
US
Italy
UK
France
Germany
Korea
Japan
-0.5
-1.0
Germany
y
0.0
Japan
0.0
0.5
Korea
a
19952005
1.0
Japan
n
198095
-2.0
-1.5
-3.0
Other goods producing industries
Finance and business services
Distribution services
1.5
4.0
4.0
Personal and social services
1.0
3.0
3.0
0.5
2.0
-2.0
US
Italy
UK
France
F
Geermany
40
-4.0
Korea
-1.0
US
Ittaly
UK
ance
Fra
Germany
-1.5
0.0
-3.0
-5.0
-1.0
Japan
US
Italy
UK
France
Germany
Korea
-2.0
Japan
-1.0
1.0
Ko
orea
-0.5
0.0
Jap
pan
0.0
2.0
1.0
-2.0
-2.5
25
-3.0
Source: Kyoji Fukao, Tsutomu Miyagawa, Hak K. Pyo and Keun Hee Rhee (2009), “Estimates of Total Factor Productivity, ICT Contributions and Resource Reallocation Effects in Japan and Korea.”
12
For this type of analysis, we need to harmonize For
this type of analysis we need to harmonize
our data.
• Will EU KLEMS continue their service and Will EU KLEMS continue their service and
expand their coverage of countries?
• Industry classification? Don’t we need to take account of special characteristics of Asian countries?
• Shall we use labor categories (age, education, Shall we use labor categories (age, education,
etc.) of EU KLEMS? • Shall we use capital depreciation rates of EU Shall we use capital depreciation rates of EU
KLEMS?
13
14
For international comparison of l b
labor productivity and TFP, we need d ti it
d TFP
d
PPP for output, intermediate input and
PPP for output, intermediate input and investment goods. Will Groningen University provide us?
15
The Results of International The
Results of International
Comparison of TFP between Japanese, Korean and Chinese firms EALC Database
• The Japan Center for Economic Research has been pursuing the
revision and updating
p
g of the East Asian Listed Companies
p
Database (EALC) compiled in a collaborative effort with the
Center for Corporate Competitiveness at Seoul National
University (Prof. Keun Lee), Hitotsubashi University, and Nihon
University.
• The
Th mostt recentt version,
i
EALC 2009
2009, iis composed
d off th
the
necessary data for estimating the total factor productivity (TFP)
of all companies listed on the stock exchanges in Japan, China,
South Korea, and Taiwan as well as the TFP of each company
adjusted for purchasing power parity.
17
Source of Data (China)
• Output and Material Deflator
– Output: From NBS( the National Bureau of Statistics), except output deflator for agriculture and service sectors which are from
output deflator for agriculture and service sectors, which are from China Statistical Yearbook
– Material: Estimated based on data form NBS and Input‐Output T bl 2002
Table 2002
• Labor hours
– The numbers of employee; from CSMAR
The numbers of employee; from CSMAR
– Industry average labor hour: Estimated based on the data from Population Survey 1995 and Yang(2003) • Capital cost
– Interest rate: from PBC (The People’s Bank of China) – Corporate tax rate from CSMAR
C
f
CSMAR
– Deflator: Estimated based on data from NBS and Input‐Output Table 2002. We use the average price of capital goods, and they
Table 2002. We use the average price of capital goods, and they are machinery, tools, vehicle, and building and structure.
– Depreciation rate: from Harry Wu (2002) Labor Cost Share in the manufacturing industry
1985
1990
1995
2000
2004/5
Japan
0.153
0.145
0.169
0.164
0.158
Korea
0.133
0.148
0.132
0.118
0.087
0 062
0.062
0 053
0.053
Chi
China
Capital Cost Share in the manufacturing industry
1985
1990
1995
2000
2004/5
Japan
0.058
0.061
0.046
0.038
0.034
Korea
0.058
0.069
0.054
0.042
0.022
0 092
0.092
0 087
0.087
Chi
China
Intermediate input Cost Share in the manufacturing industry
1985
1990
1995
2000
2004/5
Japan
0.789
0.794
0.785
0.798
0.807
Korea
0.808
0.783
0.814
0.840
0.891
0 846
0.846
0 860
0.860
Chi
China
Labor Cost Share in the non‐
manufacturing industry
1985
1990
1995
2000
2004/5
Japan
0.183
0.173
0.176
0.165
0.162
Korea
0.156
0.156
0.144
0.119
0.072
0 075
0.075
0 056
0.056
Chi
China
Capital Cost Share in the non‐
manufacturing industry
1985
1990
1995
2000
2004/5
Japan
0.114
0.111
0.079
0.055
0.047
Korea
0.138
0.155
0.112
0.085
0.026
0 152
0.152
0 121
0.121
Chi
China
Intermediate input Cost Share in the non‐manufacturing industry
1985
1990
1995
2000
2004/5
Japan
0.703
0.716
0.745
0.780
0.791
Korea
0.605
0.589
0.644
0.795
0.802
0 773
0.773
0 823
0.823
Chi
China
TFP Growth Rate in Manufacturing Industry (% per annum, Japan, Korea and China)
19851990
19901995
19952000
20002004
Japan
1.07%
0.59%
1.58%
1.77%
Korea
4.04%
5.62%
-0.75%
2.73%
China
Chi
7.19%
TFP Growth Rate in non‐manufacturing Industry (% per annum, Japan, Korea and China)
19851990
19901995
19952000
20002004
Japan
1.97%
-1.25%
0.92%
2.14%
Korea
-0.04%
1.23%
0.93%
3.31%
Chi *
China*
*except for Oil and Gas Extraction Industry
8.14%
TFP Growth Rate by Industry (Manufacturing Industry, China)
p.a.
1999
19992004
Industrial Name
1999
2000
2001
2002
2003
2004
6
Food and kindred products
0.02
0.05
0.00
0.05
0.13
0.08
0.05
7
Textile mill products
0.02
0.02
-0.01
0.03
0.02
0.02
0.02
8
Apparel
0.02
0.07
0.00
0.02
0.05
0.06
0.04
9
Lumber and wood
10
Furniture and fixtures
0.00
0.13
0.12
-0.11
-0.13
-0.07
-0.01
11
Paper and allied
0.02
0.05
-0.03
0.02
0.05
0.08
0.03
12
Printing, publishing and allied
0.01
0.00
0.01
0.02
-0.10
-0.01
-0.01
13
Chemicals
0.03
0.03
0.04
0.13
0.11
0.08
0.07
14
Petroleum and coal products
0.00
0.10
-0.03
-0.01
0.02
0.11
0.03
15
Leather
0.00
-0.04
-0.02
-0.01
0.01
0.00
-0.01
16
S
Stone,clay,glass
l
l
0 04
0.04
0 15
0.15
0 15
0.15
0 12
0.12
0 19
0.19
0 20
0.20
0 14
0.14
17
Primary metal
0.01
0.03
0.05
0.08
0.11
-0.01
0.05
18
Fabricated metal
0.16
0.23
0.25
0.22
0.09
0.30
0.21
19
Machinery non elect
Machinery,non-elect
0 04
0.04
0 04
0.04
0 06
0.06
0 07
0.07
0 11
0.11
0 16
0.16
0 08
0.08
20
Electrical machinery
0.02
0.04
0.05
0.09
0.14
0.16
0.08
21
Motor vehicles
0.01
-0.01
-0.01
0.03
0.08
0.14
0.04
22
Transportation equipment & ordnance
0 02
0.02
0 01
0.01
0 07
0.07
0 11
0.11
0 14
0.14
0 18
0.18
0 09
0.09
23
Instruments
0.07
0.13
0.12
0.08
0.13
0.19
0.12
24
Rubber and misc plastics
0.01
0.02
-0.02
0.06
0.06
0.07
0.03
25
Misc. manufacturing
0.08
0.11
0.04
-0.03
-0.02
0.03
0.04
TFP Growth Rate by Industry (Non‐manufacturing Industry, China)
pa
p.a.
19992004
Industrial Name
1999
2000
2001
2002
2003
2004
1
Agriculture
0.05
0.11
-0.04
-0.05
-0.04
-0.09
-0.01
2
Coal mining
0.03
0.03
-0.07
-0.18
-0.20
-0.32
-0.12
3
Metal and non-metallic mining
0.02
-0.06
-0.11
-0.23
-0.19
-0.12
-0.12
4
Oil and gas extraction
0.05
-0.20
-0.31
-0.57
-0.21
-0.78
-0.34
5
Construction
0.03
-0.01
-0.05
-0.01
-0.04
-0.05
-0.02
26
Transportation
0.04
0.09
0.18
0.20
0.19
0.29
0.16
27
Communication
0 04
0.04
0 08
0.08
0 10
0.10
0 08
0.08
0 17
0.17
0 29
0.29
0 13
0.13
28
Electric utilities
0.03
-0.05
-0.04
-0.04
-0.01
0.00
-0.02
29
Gas utilities
0.01
0.0
0.06
0.08
0.03
0.06
0.12
0.
2
0.06
30
Trade
0.04
0.06
0.11
0.10
0.14
0.12
0.09
31
Finance Insurance and Real
Estate
0 07
0.07
0 09
0.09
0 10
0.10
0 14
0.14
0 14
0.14
0 15
0.15
0 11
0.11
32
Other private service
0.06
0.22
0.16
0.09
0.08
0.15
0.13
33
Public service
0.00
Source: Motohashi (2006).
Agriiculture
Forestry
F
Fishing
F
Miining and qu arrying
Foood, drink & ttobacco
Textiles
T
Clothing
C
Leeather and foootwear
Woodd & productts of wood annd cork
Pulp, papeer & paper prroducts
Priinting & pubblishing
Mineeral oil refiniing, coke & nnuclear…
Chem
micals
Rubber & pplastics
Non-metalllic mineral prroducts
Basicc metals
Fabricaated metal prroducts
Mechhanical enginneering
Office macchinery
Insulatted wire
Other electrrical machinnery and…
Electronnic valves an d tubes
Telecommu nication equuipment
T
Radio and ttelevision reeceivers
Sciientific instrruments
Other instrruments
Motor vvehicles
Buillding and reppairing of sh ips and…
Airccraft and spaacecraft
Raailroad equippment and transport …
Furniture, miscelllaneous…
Electricity, gaas and waterr supply
Consttruction
Sale, mainteenance and reepair of …
S
Wholessale trade andd commissioon trade
Retaail trade; reppair of personnal and…
Hotels & ccatering
Inland trransport
Water traansport
Air traansport
Suppporting andd auxiliary transport …
Communiications
Finanncial intermeediation
Insurance annd pension ffunding
Activities auuxiliary to financial…
Real estate acctivities
R
Rentinng of machinnery and equuipment
Computer annd related acctivities
C
Researcch and develoopment
Legal, techniical and adveertising
L
Other business activitiies, nec
Pubblic adminisstration and ddefence …
Eduucation
Heaalth and sociaal work
Other com
mmunity, soccial and…
Fig.3 Estimation of China's Purchasing Power Parity on a Production
(RMB/US$)
8 00
8.00
7.00
6.00
5.00
4.00
3 00
3.00
2.00
1.00
29
• EALC 2009 shows that South Korean firms are catching up with
Japanese firms in machinery.
.5
5
Electrical
machinery
電気機械器具製造業
韓国
日本
0
Japan
P
lnTFP
-.5
中国
本
日本
-1
中国
Korea
韓国
-1.5
China
1985
1990
1995
Year
中国
韓国
2000
2005
日本
30
自動車・同付属品製造業
Automobile
0
日本
韓国
日本
lnT
TFP
-.5
5
Japan
中国
中国
韓国
Korea
-1
China
1985
1990
1995
Year
中国
韓国
2000
2005
日本
本
31
• But the catching‐up process is slow in some other industries, such as primary metal.
p
y
.2
Primary
metal
一次金属製造業
次金属製造業
Japan
0
日本
lnTFP
P
-.4
-.2
日本
韓国
韓国
中国
-.6
Korea
中国
-.8
8
China
1985
1990
1995
Year
中国
韓国
2000
2005
日本
本
32
-1
-.5
lnTFP
P
0
.5
1
Trade
1985
1990
1995
Year
China
Korea
2000
Japan
Note:
The shaded
areas
show
10-90
and 25-75
percentile
bands.
Note:10-90
percentile
band
andthe
25-75
percentile
band
are shaded
areas.
Median values are on the thicker line
The thicker lines represent the median values.
2005
-.5
0
lnTFP
P
.5
1
Transportation
1985
1990
1995
Year
China
Korea
2000
Japan
Note:
The shaded
areas
show
10-90
and 25-75
percentile
bands.
Note:10-90
percentile
band
andthe
25-75
percentile
band
are shaded
areas.
Median values are on the thicker line
The thicker lines represent the median values.
2005
-.5
0
lnTFP
P
.5
1
1..5
Construction
1985
1990
1995
Year
China
Korea
2000
Japan
Note:
The shaded
areas
show
10-90
and 25-75
percentile
bands.
Note:10-90
percentile
band
andthe
25-75
percentile
band
are shaded
areas.
Median values are on the thicker line
The thicker lines represent the median values.
2005
-.4
-.2
lnTFP
P
0
.2
.4
.6
6
Food and kindred products
1985
1990
1995
Year
China
Korea
2000
Japan
Note:
The shaded
areas
show
10-90
and 25-75
percentile
bands.
Note:10-90
percentile
band
andthe
25-75
percentile
band
are shaded
areas.
Median values are on the thicker line
The thicker lines represent the median values.
2005
-.8
-.6
lnTFP
P
-.4
-.2
0
.2
2
Textile mill products
1985
1990
1995
Year
China
Korea
2000
Japan
Note:
The shaded
areas
show
10-90
and 25-75
percentile
bands.
Note:10-90
percentile
band
andthe
25-75
percentile
band
are shaded
areas.
Median values are on the thicker line
The thicker lines represent the median values.
2005
-1
- .5
lnTFP
P
0
.5
5
Apparel
1985
1990
1995
Year
China
Korea
2000
Japan
Note:
The shaded
areas
show
10-90
and 25-75
percentile
bands.
Note:10-90
percentile
band
andthe
25-75
percentile
band
are shaded
areas.
Median values are on the thicker line
The thicker lines represent the median values.
2005
-.2
0
lnTFP
P
.2
.4
.6
Lumber and wood
1985
1990
1995
Year
China
Korea
2000
Japan
Note:
The shaded
areas
show
10-90
and 25-75
percentile
bands.
Note:10-90
percentile
band
andthe
25-75
percentile
band
are shaded
areas.
Median values are on the thicker line
The thicker lines represent the median values.
2005
-1
-.5
lnTFP
P
0
.5
5
Furniture and fixtures
1985
1990
1995
Year
China
Korea
2000
Japan
Note:
The shaded
areas
show
10-90
and 25-75
percentile
bands.
Note:10-90
percentile
band
andthe
25-75
percentile
band
are shaded
areas.
Median values are on the thicker line
The thicker lines represent the median values.
2005
-.8
-.6
lnTFP
P
-.4
-.2
0
.2
2
Paper and
allied
industries
Paper
and
allied
1985
1990
1995
Year
China
Korea
2000
Japan
Note:
The shaded
areas
show
10-90
and 25-75
percentile
bands.
Note:10-90
percentile
band
andthe
25-75
percentile
band
are shaded
areas.
Median values are on the thicker line
The thicker lines represent the median values.
2005
-1
- .5
lnTFP
P
0
.5
5
Printing, Printing
publishing
and allied
industries
publishing
and
allied
1985
1990
1995
Year
China
Korea
2000
Japan
Note:
The shaded
areas
show
10-90
and 25-75
percentile
bands.
Note:10-90
percentile
band
andthe
25-75
percentile
band
are shaded
areas.
Median values are on the thicker line
The thicker lines represent the median values.
2005
-1
- .5
lnTFP
P
0
.5
5
Chemicals
1985
1990
1995
Year
China
Korea
2000
Japan
Note:
The shaded
areas
show
10-90
and 25-75
percentile
bands.
Note:10-90
percentile
band
andthe
25-75
percentile
band
are shaded
areas.
Median values are on the thicker line
The thicker lines represent the median values.
2005
-.5
0
lnTFP
P
.5
1
Petroleum and coal products
1985
1990
1995
Year
China
Korea
2000
Japan
Note:
The shaded
areas
show
10-90
and 25-75
percentile
bands.
Note:10-90
percentile
band
andthe
25-75
percentile
band
are shaded
areas.
Median values are on the thicker line
The thicker lines represent the median values.
2005
-.5
0
lnTFP
P
.5
1
1..5
Leather
1985
1990
1995
Year
China
Korea
2000
Japan
Note:
The shaded
areas
show
10-90
and 25-75
percentile
bands.
Note:10-90
percentile
band
andthe
25-75
percentile
band
are shaded
areas.
Median values are on the thicker line
The thicker lines represent the median values.
2005
-1
- .5
lnTFP
P
0
.5
5
Stone,
clay,
glass
Stone
clay
glass
1985
1990
1995
Year
China
Korea
2000
Japan
Note:
The shaded
areas
show
10-90
and 25-75
percentile
bands.
Note:10-90
percentile
band
andthe
25-75
percentile
band
are shaded
areas.
Median values are on the thicker line
The thicker lines represent the median values.
2005
-.8
-.6
lnTFP
P
-.4
-.2
0
.2
2
Primary metal
1985
1990
1995
Year
China
Korea
2000
Japan
Note:
The shaded
areas
show
10-90
and 25-75
percentile
bands.
Note:10-90
percentile
band
andthe
25-75
percentile
band
are shaded
areas.
Median values are on the thicker line
The thicker lines represent the median values.
2005
-.4
-.2
lnTFP
P
0
.2
.4
4
Fabricated metal
1985
1990
1995
Year
China
Korea
2000
Japan
Note:
The shaded
areas
show
10-90
and 25-75
percentile
bands.
Note:10-90
percentile
band
andthe
25-75
percentile
band
are shaded
areas.
Median values are on the thicker line
The thicker lines represent the median values.
2005
-1
- .5
lnTFP
P
0
.5
5
Machinery
(non-electrical)
Machinery
non-elect
1985
1990
1995
Year
China
Korea
2000
Japan
Note:
The shaded
areas
show
10-90
and 25-75
percentile
bands.
Note:10-90
percentile
band
andthe
25-75
percentile
band
are shaded
areas.
Median values are on the thicker line
The thicker lines represent the median values.
2005
-1.5
-1
lnTFP
P
-.5
0
.5
5
Electrical machinery
1985
1990
1995
Year
China
Korea
2000
Japan
Note:
The shaded
areas
show
10-90
and 25-75
percentile
bands.
Note:10-90
percentile
band
andthe
25-75
percentile
band
are shaded
areas.
Median values are on the thicker line
The thicker lines represent the median values.
2005
-1
lnTFP
P
-.5
0
Motor
vehicles
Motor
Vehicles
1985
1990
1995
Year
China
Korea
2000
Japan
Note:
The shaded
areas
show
10-90
and 25-75
percentile
bands.
Note:10-90
percentile
band
andthe
25-75
percentile
band
are shaded
areas.
Median values are on the thicker line
The thicker lines represent the median values.
2005
-1
- .5
lnTFP
P
0
.5
5
Transportation equipment and ordnance
1985
1990
1995
Year
China
Korea
2000
Japan
Note:
The shaded
areas
show
10-90
and 25-75
percentile
bands.
Note:10-90
percentile
band
andthe
25-75
percentile
band
are shaded
areas.
Median values are on the thicker line
The thicker lines represent the median values.
2005
-1
-.5
lnTFP
P
0
.5
5
Instruments
1985
1990
1995
Year
China
Korea
2000
Japan
Note:
The shaded
areas
show
10-90
and 25-75
percentile
bands.
Note:10-90
percentile
band
andthe
25-75
percentile
band
are shaded
areas.
Median values are on the thicker line
The thicker lines represent the median values.
2005
-.6
-.4
lnTFP
P
-.2
0
.2
.4
4
Rubber Rubber
and miscellaneous
plastics
and misc plastics
1985
1990
1995
Year
China
Korea
2000
Japan
Note:
The shaded
areas
show
10-90
and 25-75
percentile
bands.
Note:10-90
percentile
band
andthe
25-75
percentile
band
are shaded
areas.
Median values are on the thicker line
The thicker lines represent the median values.
2005
-1
- .5
lnTFP
P
0
.5
5
Miscellaneous
manufacturing
Misc manufacturing
1985
1990
1995
Year
China
Korea
2000
Japan
Note:
The shaded
areas
show
10-90
and 25-75
percentile
bands.
Note:10-90
percentile
band
andthe
25-75
percentile
band
are shaded
areas.
Median values are on the thicker line
The thicker lines represent the median values.
2005
-2
2
-1.5
lnTFP
P
-1
-.5
0
.5
Communication
1985
1990
1995
Year
China
Korea
2000
Japan
Note:
The shaded
areas
show
10-90
and 25-75
percentile
bands.
Note:10-90
percentile
band
andthe
25-75
percentile
band
are shaded
areas.
Median values are on the thicker line
The thicker lines represent the median values.
2005
-.5
5
lnTFP
P
0
.5
Electrical utilities
1985
1990
1995
Year
China
Korea
2000
Japan
Note:
The shaded
areas
show
10-90
and 25-75
percentile
bands.
Note:10-90
percentile
band
andthe
25-75
percentile
band
are shaded
areas.
Median values are on the thicker line
The thicker lines represent the median values.
2005
-3
-2
lnTFP
P
-1
0
1
Gas utilities
1985
1990
1995
Year
China
Korea
2000
Japan
Note:
The shaded
areas
show
10-90
and 25-75
percentile
bands.
Note:10-90
percentile
band
andthe
25-75
percentile
band
are shaded
areas.
Median values are on the thicker line
The thicker lines represent the median values.
2005
-1.5
-1
lnTFP
P
-.5
0
.5
5
Finance,
insurance
estate
Finance
Insuranceand
andreal
Real
Estate
1985
1990
1995
Year
China
Korea
2000
Japan
Note:
The shaded
areas
show
10-90
and 25-75
percentile
bands.
Note:10-90
percentile
band
andthe
25-75
percentile
band
are shaded
areas.
Median values are on the thicker line
The thicker lines represent the median values.
2005
-.5
0
lnTFP
P
.5
5
1
1..5
Other private services
1985
1990
1995
Year
China
Korea
2000
Japan
Note:
The shaded
areas
show
10-90
and 25-75
percentile
bands.
Note:10-90
percentile
band
andthe
25-75
percentile
band
are shaded
areas.
Median values are on the thicker line
The thicker lines represent the median values.
2005
Chemicals
.5
TAKEDA PHARMACEUTICAL CO.,LTD.
ln
nTFP
0
MITSUI CHEMICALS,INC.
MITSUBISHI CHEMICAL CORP
CORP.
DONG-A PHARMACEUTICAL CO.,LTD.
-.5
LG CHEM CO.,LTD.
SAMSUNG FINE CHEMICALS CO.,LTD.
,
-1
SHANGHAI PHARMACEUTICAL CO CLTD
p Yizheng
g Chemical Fibre Company
p y Limited
Sinopec
SHANGHAI CHLOR-ALK ALI CHEMICAL CO.,LTD
1985
1990
1995
Year
2000
2005
.2
Primary metal
NIPPON STEEL CORP.
ln
nTFP
-.2
0
KAW ASAKI STEEL CORP.
-.4
4
POSCO CO.,LTD.
DONGKUK STEEL MILL CO.,LTD.
-.6
ANGANG NEW STEEL COMPANY LIMITED
1985
1990
1995
Year
2000
2005
.5
Electrical machinery
LG ELECTRONICS INC.
SAMSUNG ELECTRONICS CO.,LTD.
0
MATSUSHITA ELECTRIC INDUSTRIAL CO.,LTD.
TOSHIBA CORP.
CORP
-1.5
-1
ln
nTFP
-.5
QINGDAO HAIER CO. CLTD.
KOUKA GROUP COMPANY CLIMITED
1985
1990
1995
Year
2000
2005
.2
Motor Vehicles
0
TOYOTA MOTOR CORP.
HONDA MOTOR CO.,LTD.
HYUNDAI MOTOR COMPANY CO.,LTD.
,
-.4
ln
nTFP
-.2
KIA MOTORS CORPORATION
CHONGQING CHANGAN AUTOMOBILE CO., LTD.
-.8
-.6
Dongfeng Automobile Co.,LTD
1985
1990
1995
Year
2000
2005
Issues in our comparison calculation
Issues in our comparison calculation
• Problems in estimation for relative p
p
y
intermediate price should be fixed, especially industry use imported intermediate goods heavily.
heavily
• Since a firm usually produces heterogeneous goods, its deflated sales by a common fl
l b
industry price index can be a misleading proxy for output.