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http://dx.doi.org/10.5762/KAIS.2014.15.1.249

A Measurement on the Economic Impact of Tax-free Oil for Agriculture  

Kim, Bae-Sung (Dept. of Industrial and Applied Economics in JeJu National University, Research Institute for Subtropical Agriculture and Animal Biotechnology)
Kim, Yean-Jung (Dept. of Resource and Environment Research in Korea Rural Economic Institue)
Publication Information
Journal of the Korea Academia-Industrial cooperation Society / v.15, no.1, 2014 , pp. 249-255 More about this Journal
Abstract
This paper deals with measurement on the economic impact of tax-free oil for Agriculture in Korea. According to increasing of world oil price, the supply policy of agricultural tax-free oil, which specified to support farmers since 1986, are required to expand by farmers. But the supply quantity of tax-free oil is deceased continuously and Korean Ministry of Trade, Industry, and Energy(MOTIE) present stance of sundown policy of tax-free oil for agriculture. In this context, It is necessary and important to measure the economic impact of the supply policy of tax-free oil for agriculture. This study address a econometric method for measurement the economic impact of the supply policy of tax-free oil and suggest several policy implements. Our results show that when the supply policy of tax-free oil for agriculture is annihilated in phases over the five years. the agricultural GDP is decreased by about 3,195 billion korean won and the agricultural price level is increased by 26.6 points after 5 years.
Keywords
Economic Impact; Supply-side Economics; Tax-free Oil for Agriculture; World Oil Price;
Citations & Related Records
Times Cited By KSCI : 1  (Citation Analysis)
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