Economic analyses and econometric models based on IOTs provide a deeper understanding of the state, functioning and evolution of an economy and its various sectors. Multiregional input output tables (MRIOTs) capture the various economic connections among countries. In today’s world of economic globalization wherein industrial linkages are now spreading beyond national borders, internationally articulated IOTs are essential to discern the local and global economic implications of various phenomena. Thus, the input output (IO) framework, models and analysis effectively facilitate evidence-based policymaking by providing high quality data-driven insights on economic issues.
- Basic Framework of Input-Output Analysis
- Leontief Output Model
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