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


  • Chun Kwon Yoo
  • Munisamy Gopinath
  • Hanho Kim


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. Copyright 2012, Oxford University Press.

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  • 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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    1. Mark Partridge & Dan Rickman, 2010. "Computable General Equilibrium (CGE) Modelling for Regional Economic Development Analysis," Regional Studies, Taylor & Francis Journals, vol. 44(10), pages 1311-1328.
    2. Mark D. Partridge & Dan S. Rickman, 1998. "Regional Computable General Equilibrium Modeling: A Survey and Critical Appraisal," International Regional Science Review, , vol. 21(3), pages 205-248, December.
    3. Dan S. Rickman, 2002. "A Bayesian forecasting approach to constructing regional input-output based employment multipliers," Papers in Regional Science, Springer;Regional Science Association International, vol. 81(4), pages 483-498.
    4. Christine Wieck & David Holland, 2010. "The economic effect of the Canadian BSE outbreak on the US economy," Applied Economics, Taylor & Francis Journals, vol. 42(8), pages 935-946.
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