IS A BEEF DEFICIENCY PAYMENT PARETO-SUPERIOR IN SOUTH KOREA?

South Korea uses a quota and a tariff on beef imports to keep farm prices high. Part of the quota rents are used to support indirect benefits to producers. The welfare costs of these policies are analyzed. Following a suggestion of Hayami, a deficiency payment financed by tariff revenues from increased imports is considered as an alternative to the quota. As Anderson (1983) found for Japan, a deficiency payment is Pareto-superior only if indirect benefits from the quota revenue are ignored.


Issue Date:
1991-07
Publication Type:
Journal Article
PURL Identifier:
http://purl.umn.edu/32622
Published in:
Western Journal of Agricultural Economics, Volume 16, Number 1
Page range:
106-118
Total Pages:
13




 Record created 2017-04-01, last modified 2017-08-25

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