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

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This is the author's peer-reviewed final manuscript, as accepted by the publisher. The article is published by Oxford University Press, on behalf of Agricultural and Applied Economics Association. The published article can be found at:  http://aepp.oxfordjournals.org/.

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  • We examine the effects of multilateral trade reform on Korean agriculture and 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 1970-2009. Then, we examine the sources of 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.
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  • Yoo, C., Gopinath, M., & Kim, H. (2012). Trade policy reform, productivity growth and welfare in south korean agriculture. Applied Economic Perspectives and Policy, 34(3), 472-488. doi: 10.1093/aepp/pps019
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