| 초록 |
This paper examines the effects of the changes in policy variables such as target price to see who benefits from the current direct payments program in Korea's rice industry. Unlike previous studies on this issue, this study analyzes the effects from a broader perspective by incorporating both output originally by Floyd for agricultural sector is further extended so that Korea's rice direct payments program can be analyzed. Theoretical and empirical analyses are conducted using this extended model, and then policy implication and income redistribution consequences are discussed as well. The results show that the program benefits not only rice farmers but also consumers and landowners as market price of rice tends to fall while rent is expected to rise under this program.
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