1. The Effect of Total Factor Productivity in China’s Accession to WTO Yiseok Hong Seokyeong University

2. China’s Accession to WTO CHN2005 Real GDPCapital Stocks Welfare($US million) Namerica-0.23-0.6($1,262.76) Weurope-0.1-0.457,257.51 Japan-0.19-0.49$7,837.46 CHN_TWN5.88.52$91,650.23 OthNICs0.140.28$6,225.04 SEA-1.07-1.56($5,114.52) SoAsia-0.4-0.99($2,895.18) ROW-0.34-0.73($6,673.00)

3. MFA/ATC CHN2005 Real GDPCapital Stocks Welfare($US million) Namerica-0.23-0.6($1,297.20) Weurope-0.1-0.457,220.55 Japan-0.19-0.49$7,713.68 CHN_TWN5.758.47$91,441.38 OthNICs0.160.29$6,244.38 SEA-1.05-1.54($5,056.86) SoAsia-0.39-0.97($2,866.74) ROW-0.34-0.72($6,686.98)

4. TFP Services 4% Real GDPCapital Stocks Welfare($US million) Namerica-0.29-0.74($5,477.23) Weurope-0.17-0.61$1,481.93 Japan-0.28-0.7$5,255.40 CHN_TWN10.3412.92$253,108.28 OthNICs-0.35-0.71$995.94 SEA-0.81-1.23($2,929.60) SoAsia-0.33-0.79($1,518.02) ROW-0.4-0.84($8,420.01)

5. Welfare Decomposition ChinaNamerica CHN2005SFG2005TFP Services 4% Total Welfare$91,650.23$91,441.38$253,108.28($5,477.23) Allocative efficiency$87,391.34$87,285.95$73,630.94($2,378.77) Net foreign equity$17,979.71($9,738.67)$50,352.29($12,595.39) Terms of trade($13,870.33)$13,743.40($9,676.22)$7,506.22 Technology$0.00 $137,846.56$0.00 Non-accumulable endowments$0.00 Capital goods effect$149.51$150.70$954.72$1,990.74 Population effect$0.00

6. Net Income by owning Equity TempCoeff1 NAmerica4 CHN_TWN 1 qk-24199.62128312.14 2 pop00 3 yqht2095.16-28847.94 4 yqtf9621.26-47171.29 Total-12483.252292.91