A computable general equilibrium model is employed to analyze the economic effects of market liberalization in Korean livestock industry. The process of the liberalization is categorized into three scenarios: tariffication in 2001. 2004, and 10%~50% d...
A computable general equilibrium model is employed to analyze the economic effects of market liberalization in Korean livestock industry. The process of the liberalization is categorized into three scenarios: tariffication in 2001. 2004, and 10%~50% decrease in tariff based on the level in 2004. Results indicate that the liberalization process lowered the investment and input use in livestock industry. Market prices will drop by 0.4%~1.3% and the production will be contracted by 0.8%~2.85%, depending on the kinds of commodity.