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With regression formulas replaced by equilibrium conditions, a spatial CGE (Computable General Equilibrium) model can substantially reduce data requirements. Detailed regional analyses are thus possible in countries where only limited regional statistics are available. Alhough regional price differentials play important roles in multiregional settings, transport does not receive much attention in existing models. This paper formulates a spatial CGE model that explicitly considers the transport sector and FOB/CIF prices. After describing the model, the performance of our model is evaluated by comparing the benchmark equilibrium for China with a survey-based interregional I-O table for 1987. The structure of Chinese economies is summarized using information obtained from the benchmark equilibrium computation. This includes regional and sectoral production distributions and price differentials. The equilibrium for 1997 facilitates discussion of changes in regional economic structures that China has experienced in the decade. [ABSTRACT FROM AUTHOR]

This study aims to clarify the space-time nature of land price upheaval that Japanese metropolitan areas experienced in the late eighties. Long-term panel data of land prices for two major metropolitan areas were first compiled, based on thePublic Notifications. The parameters of the cross-sectional land price functions calculated in the process suggest that the price formations in Osaka are approximately two to three years behind that in Tokyo. The space-time structure of land price changes within the Tokyo area was studied using one- and two-dimensional diffusion models, where monocentricity of fund supplies to the land market is assumed. It is concluded, regardless of dimensions, that heat conduction provides a good analogy for the space-time behavior of land market: diffusion coefficients suggest that the land price increase has propagated fastest towards north-north-east and south-south-west, and slowest along the orthogonal direction. [ABSTRACT FROM AUTHOR]