The Impact of Potential Korea-U.S. Free Trade Agreement Renegotiation on the Korean Rice Market and Trade

Korea replaced its rice import quota with a tariff rate quota (TRQ) in 2015. A structural model representing the Korean rice market is developed to evaluate this new trade policy and examine the possibility of Korean rice imports under uncertainty. Results indicate that rice imports in excess of the...

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Bibliographic Details
Published in:Journal of agricultural and applied economics 2019-08, Vol.51 (3), p.434-449
Main Authors: Soon, Byung Min, Westhoff, Patrick, Thompson, Wyatt
Format: Article
Language:English
Subjects:
Agricultural commodities
Agricultural economics
Agriculture
Consumers
Economic conditions
Economic models
Free trade
Imports
Markets
Product differentiation
Rice
Supply & demand
Tariffs
Trade agreements
Trade policy
Volatility
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