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Trade Policy Reform, Productivity Growth and Welfare in South Korean Agriculture

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  • Chun Kwon Yoo
  • Munisamy Gopinath
  • Hanho Kim

Abstract

We examine the effects of multilateral trade reform on South Korean agriculture and its economy. We first measure agricultural total factor productivity (TFP) and its components (technological and technical efficiency change) by estimating a production function and stochastic frontier using data from Korean Statistical Information Service during 1970-2009. We then examine the sources of South Korean agricultural TFP with an emphasis on trade openness, and agricultural research and extension. We find that TFP elasticity with respect to trade openness is significantly larger after 1994 relative to the pre-reform period. Further, Korean farmers have passed on productivity gains from trade reform to consumers in the form of lower prices.

Suggested Citation

  • Chun Kwon Yoo & Munisamy Gopinath & Hanho Kim, 2012. "Trade Policy Reform, Productivity Growth and Welfare in South Korean Agriculture," Applied Economic Perspectives and Policy, Agricultural and Applied Economics Association, vol. 34(3), pages 472-488.
    • Handle: RePEc:oup:apecpp:v:34:y:2012:i:3:p:472-488.
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    Cited by:

    1. Yuan, Lingran & Zhang, Qizheng & Wang, Shuo & Hu, Weibin & Gong, Binlei, 2022. "Effects of international trade on world agricultural production and productivity: evidence from a panel of 126 countries 1962-2014," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association, vol. 25(2), March.
    2. Moon, W. & Pino, G., 2018. "The Absence of Dynamic Gains from Free Trade in Agriculture: Implications for the Governance of Agricultural Trade and Development," 2018 Conference, July 28-August 2, 2018, Vancouver, British Columbia 275869, International Association of Agricultural Economists.
    3. Xosé A Rodríguez & Yahia H Elasraag, 2015. "Assessing the Total Factor Productivity of Cotton Production in Egypt," PLOS ONE, Public Library of Science, vol. 10(1), pages 1-14, January.
    4. Yuko Akune & Nobuhiro Hosoe, 2021. "Microdata analysis of Japanese farmers’ productivity: Estimating farm heterogeneity and elasticity of substitution among varieties," Agricultural Economics, International Association of Agricultural Economists, vol. 52(4), pages 633-644, July.

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