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Japanese Agricultural Distortions and Their Welfare Value
Author(s) -
Bale Malcolm D.,
Greenshields Bruce L.
Publication year - 1978
Publication title -
american journal of agricultural economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.949
H-Index - 111
eISSN - 1467-8276
pISSN - 0002-9092
DOI - 10.2307/1240161
Subject(s) - production (economics) , consumption (sociology) , agricultural economics , livestock , agriculture , welfare , economics , product (mathematics) , agricultural productivity , deadweight loss , value (mathematics) , business , market economy , geography , forestry , microeconomics , social science , geometry , mathematics , archaeology , sociology , machine learning , computer science
Using a Corden/Johnson model the welfare costs of current and future Japanese agricultural trade and production policies are evaluated for the eight major cereal and livestock commodities produced and imported in Japan. It is estimated that the net social loss in consumption and production of 1975/76 import and production distortions for the eight commodities is $@@‐@@276 million and $@@‐@@111 million respectively. If the 1985/86 Japanese farm production goals are met the net social loss in production will rise dramatically to $@@‐@@7.6 billion. The combined production and consumption net social losses of the 1985/86 plan are equivalent to 2% of Japan's gross national product.