The Potential Economic Impacts of Bovine Somatotropin Use on Regional and State Economies in Virginia

Robert L. Parsons and Thomas G. Johnson

Review of Agricultural Economics, 1994, vol. 16, issue 2, 175-186

Abstract: This study indicates that the overall economies of both Virginia and Rockingham County, Virginia, can expect reduced total industrial output, personal income, property income, total income, value added, and jobs from increased milk production and decreased consumption attributed to the adoption of bST by dairy farms. The authors use a marginal exogenization approach that allows specific examination of the distribution of impacts among the various sectors due to the impacts of the technological change for both a large and a small geographical region. The results of this study provide guidance to policy makers as they develop plans to ease the transition of technological change.

Date: 1994
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