Measuring Contestability of Korean and Japanese Imported Beef Markets
0
조회
0
다운로드
0
인용
0
참고문헌
키워드
초록
This study analyzes the competitiveness and market power dynamics in the Korean and Japanese imported beef markets using an extended menu approach and the rivalry index method. By re-evaluating these markets with a Bayesian estimation procedure, the research addresses limitations of previous studies. Findings reveal that the quantity cartel model best fits the South Korean market, while the price cartel model suits the Japanese market. Despite structural model indications of potential cartel behavior, the rivalry index shows no significant collusion between US and Australian beef exporters. This absence of collusive behavior is attributed to the market’s nature, characterized by multiple exporters in both countries. The presence of numerous exporters makes unified strategies for competition or collusion challenging, even with support from organizations like US Meat Export Federation (USMEF) and Australian Meat and Livestock Corporation (MLA).
Abstract
This study analyzes the competitiveness and market power dynamics in the Korean and Japanese imported beef markets using an extended menu approach and the rivalry index method. By re-evaluating these markets with a Bayesian estimation procedure, the research addresses limitations of previous studies. Findings reveal that the quantity cartel model best fits the South Korean market, while the price cartel model suits the Japanese market. Despite structural model indications of potential cartel behavior, the rivalry index shows no significant collusion between US and Australian beef exporters. This absence of collusive behavior is attributed to the market’s nature, characterized by multiple exporters in both countries. The presence of numerous exporters makes unified strategies for competition or collusion challenging, even with support from organizations like US Meat Export Federation (USMEF) and Australian Meat and Livestock Corporation (MLA).
참고문헌 (28)
- Carter, C. A., "Price or quantity competition? Oligopolistic structures in international commodity markets", Review of International Economics, 5(3), pp.373~385 (1997)[DOI]
- Chung, C., "Valuing quality attributes and country of origin in the Korean beef market", Journal of Agricultural Economics, 60(3), pp.682~698 (2009)[DOI]
- Choi, Y., "Bayesian matrix determinant test for Bertrand competitors: An application examining the international beef market", 2021 Annual Meeting (2021), Agricultural and Applied Economics Association
- "DistanceFromTo" (2022)[URL]
- "Food price monitoring and analysis" (2021)[URL]
- Gasmi, F., "Econometric analysis of collusive behavior in a soft-drink market", Journal of Economics & Management Strategy, 1(2), pp.277~311 (1992)[DOI]
- BACI: International trade database at the product-level. The 1994-2007 version, "Gaulier, G.", CEPII, ~, pp.CEPII Working Paper , 2010-23 (1994)
- Gelman, A., "Bayesian data analysis", pp.2013, Chapman and Hall
- Jeffreys, H, "The theory of probability" (1961), Oxford University Press
- Karp, L. S., "A dynamic model of oligopoly in the coffee export market", American Journal of Agricultural Economics, 75(2), pp.448~457 (1993)[DOI]
- Karp, L. S., "Dynamic oligopoly in the rice export market", The Review of Economics and Statistics, 71(3), pp.462~470 (1989)[DOI]
- Knetter, M. M., "Price discrimination by U. S. and German exporters", American Economic Review, 79(1), pp.198~210 (1989)
- Krugman, P. R., "Is free trade passé?", Journal of Economic Perspectives, 1(2), pp.131~144 (1987)[DOI]
- Lee, M. D., "Bayesian cognitive modeling: A practical course" (2014), Cambridge University Press
- Lee, S., "Oligopolistic market structure in the Korean beef import market", Korean Journal of Agricultural Management and Policy, 50(2), pp.253~274 (2023)
- Lee, Y., "Effects of price and quality differences in source differentiated beef on market demand", Journal of Agricultural and Applied Economics, 41(1), pp.241~252 (2009)[DOI]
- Lewandowski, D., "Generating random correlation matrices based on vines and extended onion method", Journal of Multivariate Analysis, 100(9), pp.1989~2001 (2009)[DOI]
- McElreath, R, "Statistical rethinking: A Bayesian course with examples in R and Stan" (2020), Taylor and Francis, CRC Press
- "Overseas market data and insights | Meat & Livestock Australia" (2022)[URL]
- "Japan’s beef market" (2010)[URL]
- Reimer, J. J., "Imperfect competition and strategic trade theory : Evidence for international food and agricultural markets", Journal of Agricultural & Food Industrial Organization, 4(1) (2006)[DOI]
- "RStan: The R interface to Stan. R package version 2.21.5" (2022)[URL]
- Tirole, J., "The theory of industrial organization" (1988), MIT Press
- "Australia : Livestock and products annual" (2019)[URL]
- "South Korea: Livestock and products semi-annual" (2021)[URL]
- "U.S. Meat Export Federation, Korea Office"[URL]
- Vuong, Q. H., "Likelihood ratio tests for model selection and non-nested hypotheses", Econometrica, 57(2), pp.307~333 (1989)[DOI]
- "Data Bank" (2021)[URL]