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Growing Agricultural Protectionism and its Causes in Korea

  • Hoseop Yoon

Abstract

Korean agriculture and the agricultural market have been subject to massive intervention by the government in the form of laws, regulations and, sometimes, direct government orders. The types of intervention can be classified either as direct or as indirect intervention. Direct intervention usually takes the form of interference with product and input markets through price support programs, input subsidies, restrictions on imports, etc. Indirect intervention generally consists of broad measures affecting the entire agricultural sector such as regulations on agricultural input industries or even the forced underrating of domestic currency exchange rate vis-a-vis foreign currencies. This kind of government intervention may, of course, cause price distortions in the structure of agricultural prices, which then has a significant effect on the structure of agricultural production. Therefore, intervention also brings about a distortion of the resource employment structure in agriculture. The degree of government intervention is usually noted in the level of protectionism in most countries. In consequence, this paper attempts to explain the growing level of agricultural protectionism in Korea.

Keywords

Protection Level Domestic Price Foreign Exchange Reserve Domestic Prex Korean Economy 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer Verlag Berlin · Heidelberg 1989

Authors and Affiliations

  • Hoseop Yoon
    • 1
  1. 1.Korea Rural Economics InstituteSeoulKorea

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