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Endogeneity and Structural Change in Korean Meat Demand

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  • Kim, Hyeyoung

Abstract

The endogeneity of prices and quantities and structural change in Korean meat demand are tested in this paper. Both Almost Ideal Demand System(AIDS) and Inverse Almost Ideal Demand System(IAIDS) are estimated using quarterly data from 1991 through 2001. The results of Hausman's specification tests show that prices of domestic beef and import beef in AIDS and quantities of domestic beef and pork in IAIDS appear to be endogenous. The results of Wald tests indicate that there was a structural change caused by the Korean financial crisis in 1997.

Suggested Citation

  • Kim, Hyeyoung, 2003. "Endogeneity and Structural Change in Korean Meat Demand," Journal of Rural Development/Nongchon-Gyeongje, Korea Rural Economic Institute, vol. 26(3), October.
    • Handle: RePEc:ags:jordng:288186
    DOI: 10.22004/ag.econ.288186
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    Cited by:

    1. Jeon, Sanggon & Lee, Jungmin & Chai, Sanghyen & Lee, Hyungwoo, 2010. "Economic Impacts Of The Law Of Cattle And Beef Traceability In Marketing Channels On The Domestic Hanwoo Beef Industry," Journal of Rural Development/Nongchon-Gyeongje, Korea Rural Economic Institute, vol. 33(2), pages 1-24, July.
    2. Jin, Hyun Joung, 2008. "Changes in South Korean consumers' preferences for meat," Food Policy, Elsevier, vol. 33(1), pages 74-84, February.

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    Keywords

    Demand and Price Analysis;

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