Reports of Study Groups, etc. No.04-1

JIP Database Series No.1
Paper on an estimation method of investments by sector in the JIP Database

February, 2002
Kyoji Fukao
(Professor, Institute of Economic Research, Hitotsubashi University;
Senior Visiting Fellow, Economic and Social Research Institute, Cabinet Office)
Tsutomu Miyagawa
(Professor, Faculty of Economics, Gakushuin University;
Visiting Fellow, Economic and Social Research Institute, Cabinet Office)
Hiroki Kawai
(Associate Professor, Faculty of Economics, Keio University;
Visiting Fellow, Economic and Social Research Institute, Cabinet Office)
Tomohiko Inui
(Associate Professor, College of Economics, Nihon University;
Visiting Fellow, Economic and Social Research Institute, Cabinet Office)
Ximing Yue
(Former Associate Professor, Institute of Economic Research, Hitotsubashi University;
Former Visiting Fellow, Economic and Social Research Institute, Cabinet Office)
Yukako Murakami
(Graduate School of Economics, Hitotsubashi University)
Sumio Hamagata
(Policy and Planning Sciences, University of Tsukuba )
Yuuki Yoshizawa
(Faculty of Economics,Keio University)
Shiko Maruyama
(University of Northwestern)
Chikako Yamauchi
(University of California, Los Angeles)
Yoshinobu Okumoto
(Former Senior Research Fellow,Economic and Social Research Institute,Cabinet Office;
Professor, Faculty of Law and Economics,Chiba University)
Masakatu Nakamura
(Former Research Officer,Economic and Social Research Institute,Cabinet Office;
Associate Professor, Faculty of Economics,Fukushima University)
Masahide Hayashida
(Former Research Officer,Economic and Social Research Institute,Cabinet Office;
Deputy Director,under the Director-General for Economic and Fiscal Management,Cabinet Office)
Kazuyoshi Nakata
(Economic and Social Research Institute,Cabinet Office)
Kensho Hashikawa
(Former Visiting Researcher Economic and Social Research Institute,Cabinet Office;
The Chuo Mitsui Trust and Banking Company,Limited)
Naoki Okumura
(Economic and Social Research Institute,Cabinet Office)
(Kwon Hyeog Ug
(Graduate School of Economics, Hitotsubashi University))
The full text is written in Japanese.     
(Abstract)

    Investments estimated in this paper are a part of "Japan Industry Productivity Database: JIP Database" created by a study group of the Economic and Social Research Institute, Cabinet Office. The study group is trying to measure productivity of the Japanese economy by industry based on the industrial classification of "SNA Input-Output Table 1990."
    For this work, it is necessary to fully understand production factors such as intermediate goods, labor, and capital, as well as output.In particular, it is difficult to estimate capital stock directly by using or processing existing data because the data represents an accumulation of investments carried out in the past. For this reason, investment will be estimated first; capital stock will then be estimated based on it. It is not easy to estimate investment based on the classification of SNA Input-Output Table, which has as many as 89 sectors. In this paper, we describe the original data used for estimation of investments, the estimation method, and points of concern for extending the estimated investments.