WHEAT IMPORTS AND CHEAP FOOD POLICY IN KOREA

Jeong Soo Son

No 11023, Graduate Research Master's Degree Plan B Papers from Michigan State University, Department of Agricultural, Food, and Resource Economics

Abstract: In September 1983, the Korean government changed the wheat policy towards import dependence by lifting all support systems for domestic wheat production. The transformation of the wheat policy is basically grounded in the comparative advantage which emphasizes the cheap food policy with the assumption that food prices are an essential component of wage decisions, therefore a high level of food prices cause the rise in wages of the urban workers and reduces economic growth. To justify the cheap food policy, at least it should be proved to be true that the policy direction is beneficial to the overall economy. In this context, the focus of this study is centered on the effects of wheat imports on domestic production, and the contribution of cheap food policy to economic growth with regard to wage decisions.

Keywords: Agricultural and Food Policy; International Relations/Trade (search for similar items in EconPapers)
Pages: 105
Date: 1986
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Persistent link: https://EconPapers.repec.org/RePEc:ags:midagr:11023

DOI: 10.22004/ag.econ.11023

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