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The Potential Economic Impacts of Bovine Somatotropin Use on Regional and State Economies in Virginia
Author(s) -
Parsons Robert L.,
Johnson Thomas G.
Publication year - 1994
Publication title -
applied economic perspectives and policy
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.4
H-Index - 49
eISSN - 2040-5804
pISSN - 2040-5790
DOI - 10.2307/1349461
Subject(s) - bovine somatotropin , economics , state (computer science) , economic impact analysis , growth hormone , chemistry , microeconomics , algorithm , computer science , biochemistry , hormone
This study indicates that the overall economies of both Virginia and Rockingham County, Virginia, can expect reduced total industrial output, personal income, property income, total income, value added, and jobs from increased milk production and decreased consumption attributed to the adoption of bST by dairy farms. The authors use a marginal exogenization approach that allows specific examination of the distribution of impacts among the various sectors due to the impacts of the technological change for both a large and a small geographical region. The results of this study provide guidance to policy makers as they develop plans to ease the transition of technological change.