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Meat demand in South Korea: A systems estimate and policy projections


  • Dermot J. Hayes

    (Department of Economics, Iowa State University)

  • Hyungdo Ahn

    (Department of Economics, Iowa State University)

  • C. Phillip Baumel

    (Department of Economics, Iowa State University)


The results of a systems estimate of the South Korean meat sector are presented. The system is well behaved in that it satisfies the theoretical restrictions. Some of the parameters of the demand system are then used to simulate the effects of trade liberalization in the South Korean beef sector. The results indicate that South Korea would reduce its trade surplus by as much as $800 million by 1999 if its beef sector was liberalized. The principal beneficiaries of this liberalization would be the United States and Australia.

Suggested Citation

  • Dermot J. Hayes & Hyungdo Ahn & C. Phillip Baumel, 1991. "Meat demand in South Korea: A systems estimate and policy projections," Agribusiness, John Wiley & Sons, Ltd., vol. 7(5), pages 433-446.
  • Handle: RePEc:wly:agribz:v:7:y:1991:i:5:p:433-446 DOI: 10.1002/1520-6297(199109)7:5<433::AID-AGR2720070503>3.0.CO;2-K

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    References listed on IDEAS

    1. Barbara J. Spencer & James A. Brander, 1983. "International R & D Rivalry and Industrial Strategy," Review of Economic Studies, Oxford University Press, vol. 50(4), pages 707-722.
    2. Krugman, Paul R., 1989. "Industrial organization and international trade," Handbook of Industrial Organization,in: R. Schmalensee & R. Willig (ed.), Handbook of Industrial Organization, edition 1, volume 2, chapter 20, pages 1179-1223 Elsevier.
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    Cited by:

    1. Morison, Julian B. & Officer, Linda J., 1992. "Factors Affecting Japanese Investment in the Australian Beef Industry," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 60(03), December.
    2. Lee, Young-Jae & Kennedy, P. Lynn, 2009. "Effects of Price and Quality Differences in Source Differentiated Beef on Market Demand," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 41(01), April.

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