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Meat demand in South Korea: A systems estimate and policy projections
Author(s) -
Hayes Dermot J.,
Ahn Hyungdo,
Baumel C. Phillip
Publication year - 1991
Publication title -
agribusiness
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.57
H-Index - 43
eISSN - 1520-6297
pISSN - 0742-4477
DOI - 10.1002/1520-6297(199109)7:5<433::aid-agr2720070503>3.0.co;2-k
Subject(s) - economics , econometrics , agricultural economics
The results of a systems estimate of the South Korean meat sector are presented. The system is well behaved in that it satisfies the theoretical restrictions. Some of the parameters of the demand system are then used to simulate the effects of trade liberalization in the South Korean beef sector. The results indicate that South Korea would reduce its trade surplus by as much as $800 million by 1999 if its beef sector was liberalized. The principal beneficiaries of this liberalization would be the United States and Australia.