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A Political Economic Analysis of U.S. Rice Export Programs to Japan and South Korea: A Game-Theoretic Approach

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  • Dae-Seob Lee
  • P. Lynn Kennedy

Abstract

The Uruguay Round Agreement on agriculture has contributed to the increase in U.S. and world rice trade since 1994. Despite this, the Japanese and Korean rice markets continue to be characterized by high levels of trade intervention. This article attempts to analyze both import markets incorporating econometric estimates and public choice theory in a game-theoretic framework. Various scenarios are analyzed. The results show that the overall Nash equilibrium occurs with a 4% tariff reduction for Japan and Korea under the U.S. Market Development Program, which includes the Market Access Program and Foreign Market Development Program. Copyright 2006, Oxford University Press.

Suggested Citation

  • Dae-Seob Lee & P. Lynn Kennedy, 2006. "A Political Economic Analysis of U.S. Rice Export Programs to Japan and South Korea: A Game-Theoretic Approach," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 88(2), pages 420-431.
    • Handle: RePEc:oup:ajagec:v:88:y:2006:i:2:p:420-431
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    File URL: http://hdl.handle.net/10.1111/j.1467-8276.2006.00868.x
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    Cited by:

    1. Keeney, Roman & Beckman, Jayson, 2009. "WTO negotiations on agriculture and the distributional impacts for US rice farm households," Food Policy, Elsevier, vol. 34(1), pages 70-80, February.
    2. Steve McCorriston & Donald MacLaren, 2013. "Domestic and Trade Equivalences of State Trading Importers," Review of International Economics, Wiley Blackwell, vol. 21(5), pages 1006-1020, November.
    3. Steve McCorriston & Donald MacLaren, 2008. "State Trading Enterprises as an Impediment to Improved Market Access: The Case of the Korean Rice Market," Review of International Economics, Wiley Blackwell, vol. 16(3), pages 431-443, August.
    4. McCorriston, Steve & MacLaren, Donald, 2012. "State Trading Enterprises as Non-Tariff Measures: Theory, Evidence and Future Research Directions," Conference papers 332214, Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project.
    5. SHEA, Esther Y.P., 2010. "Understanding China's grain procurement policy from a perspective of optimization," China Economic Review, Elsevier, vol. 21(4), pages 639-649, December.

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