The impacts of animal disease crises on the Korean meat market

Moonsoo Park, Yanhong H. Jin, David A. Bessler

Research output: Contribution to journalArticle

24 Scopus citations

Abstract

Employing the error correction method and historical decomposition with direct acyclic graphs, we quantify the impacts of domestic and overseas animal disease crises on the Korean meat market. We have the following findings: (a) the market partially recovered 16 months after the domestic foot-and-mouth outbreak (FMD) in 2000, and 13 months after the domestic avian influenza (AI) incidents and the U.S. bovine spongiform encephalopathy (BSE) discovery in 2003; (b) animal disease outbreaks had differentiated impacts by disease type and at different levels of meat supply chain. Retail price margin increased relative to the farm and wholesale levels; and (c) disease outbreaks caused changes of dynamic interdependence between prices by meat type at different levels of meat supply chain.

Original languageEnglish (US)
Pages (from-to)183-195
Number of pages13
JournalAgricultural Economics
Volume39
Issue number2
DOIs
StatePublished - Sep 1 2008

    Fingerprint

All Science Journal Classification (ASJC) codes

  • Agronomy and Crop Science
  • Economics and Econometrics

Keywords

  • Animal disease outbreak
  • Direct acyclic graphs
  • Error correction model
  • Historical decomposition
  • Korean meat market
  • Price margins

Cite this