Page 281 - Special Topic Session (STS) - Volume 4

STS587 Shujian X. et al.
macroeconomic data and productivity paradox. Therefore, the OECD (2018)
proposes a general digital economy supply and use framework to meet the
needs of macroeconomic analysis and related policy formulation.
At present, China is facing the circumstance of slowing economic growth
and productivity paradox. The measurement of the structure of its economy,
especially the digital economy is paid highly attention around the world. One
of China’s mainstream research on the structure of digital economy by CAICT
carries out its statistical measurement from the two dimensions involving
digital industrialization and industrial digitalization. As for the methodology,
the scale of digitization is mainly based on the estimation of contribution rate
of digital technology to traditional industries. However, the technical
contribution rate cannot be equated with the scale of the digital economy. At
the same time, it is difficult to describe the impact of different types of digital
transactions on various traditional industries.
With reference to relevant research, this paper explores the feasibility of
constructing a more comprehensive and in-depth input-output framework to
depict the value chain between producers and consumers, as well as the
supply and intermediate use of various products in the digital economy. On
the basis of previous OECD research and System of National Accounts 2008
(SNA 2008), this paper develops a deeper understanding and more general
characteristics of the digital economy and its satellite account framework and
lays the foundation of this framework by conducting a comparison of digital
industry and product classifications between OECD and China. The
significance of developing the framework is to try to construct a
comprehensive and feasible data accounting system and to systematically
analyze the contribution and influence of the digital economy at different
economic development stages. The rest of the paper is organized as follows:
section2 demonstrates the theoretical foundation of related methodologies in
our research; section3 presents the result and analysis; section4 draws
conclusions and gives several suggestions.

2. Methodology
2.1 The basics on satellite account
The Satellite Account is an auxiliary accounting system that modifies
specific accounting elements on the basis of SNA Central system with good
flexibility and expandability. Broadly speaking, satellite accounts can be
divided into two categories: one is called an internal satellite account, which
selects and rearranges a group of key sectors from the industry and product
sector classification of the central framework based on the research topic; the
other category is called external satellite accounts, which is mainly designed
for the extension in production, consumption and capital formation etc.. The
difference between the two is that the former focuses on selective local
refinement while the latter focuses on overall expansion.

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