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Climate Change Impact on Rice Yield and Production Risk

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Author Info

  • Kim, Man-Keun
  • Pang, Arwin

Abstract

The relationship among rice yield and weather variables in Korea is explored using a stochastic production function. The results reveal that average rice yield is positively related to temperature and negatively associated with precipitation. Both temperature and precipitation, which are risk-increasing inputs, are positively related to rice yield variability. The widened yield variability can be transferred to the fluctuation of rice production and rice price instability. Larger market risk is expected in the future since both temperature and precipitation are anticipated to increase. An evaluation of climate change impact on rice yield variability reveals that it may increase by up to 10%~20%. Reducing yield variability and managing market risk would be the primary goals of the government's farm policy and research.

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File URL: http://purl.umn.edu/90682
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Bibliographic Info

Article provided by Korea Rural Economic Institute in its journal Journal of Rural Development/Nongchon-Gyeongje.

Volume (Year): 32 (2009)
Issue (Month): 2 (June)
Pages:

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Handle: RePEc:ags:jordng:90682

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Related research

Keywords: climate change; production risk; stochastic production function; Agribusiness; Agricultural and Food Policy; Crop Production/Industries; Environmental Economics and Policy; Production Economics;

References

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  1. Chi-Chung Chen & Ching-Cheng Chang, 2005. "The impact of weather on crop yield distribution in Taiwan: some new evidence from panel data models and implications for crop insurance," Agricultural Economics, International Association of Agricultural Economists, vol. 33(s3), pages 503-511, November.
  2. Im, Kyung So & Pesaran, M. Hashem & Shin, Yongcheol, 2003. "Testing for unit roots in heterogeneous panels," Journal of Econometrics, Elsevier, vol. 115(1), pages 53-74, July.
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Cited by:
  1. Joshi, Niraj Prakash & Maharjan, Keshav Lall & Piya, Luni, 2011. "Effect of climate variables on yield of major food-crops in Nepal -A time-series analysis-," MPRA Paper 35379, University Library of Munich, Germany.

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