Agriculture Reference
In-Depth Information
Table A8.4 Reference rates of population, labour supply, capital
accumulation, productivity and GDP growth, 2001-2010
a
(per cent/yr)
Regon
Populaton
Producton
Sklled
Physcal
Total factor
GDP
c
labour
labour
capital
productvty
b
China
0.84
1.2
2.8
8.8
3.2
8.0
Japan
0.06
-0.19
-0.71
3.0
1.0
2.0
Korea
1.7
2.0
8.9
3.8
0.1
4.0
Vietnam
1.4
2.8
3.1
7.8
2.0
7.0
Other Asia
1.9
2.1
7.2
3.9
3.0
6.5
European Union
0.0
-0.1
0.1
2.7
2.8
4.0
USA
1.1
1.1
1.1
4.1
1.2
3.5
Australa
1.0
1.1
1.0
4.5
1.4
4.0
Rest of world
1.5
1.8
4.8
4.2
.23
3.5
Notes:
a
The rates of growth of population, labour supply and capital accumulation are
derved from the sources gven below and common to all smulatons. In the reference
smulaton the GDP growth rates are made exogenous targets and the model calculates
the sector-generc total factor productvty growth rates consstent wth these targets. In
the subsequent counterfactual smulatons the total factor productvty growth rates are
fixed as shown in this table and GDP levels are then endogenous.
b
Derved n the reference smulaton for consstency of factor accumulaton and
projected GDP growth rates.
c
These values apply to the reference smulaton only. In the subsequent counterfactual
smulatons GDP s endogenous and departures from these values are reported
subsequently.
Source:
Factor accumulation rates are drawn from Ianchovichina, E. and Martin, W.,
2002. 'Economic impacts of China's accession to the WTO', World Bank, Washington DC,
and reference GDP projections from Graham, B. and Tyers, R. 2002.
Global population
forecast errors, economic performance and food demand: preliminary simulations
,
Working Papers in Economics and Econometrics No. 418. Also presented at the 46
th
Annual
Conference of the Australian Agricultural and Resource Economics Society, Adelaide.
