Meat Demand in South Korea: An Application of the Restricted Source-Differentiated Almost Ideal Demand System Model
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The first difference version of the restricted source-differentiated almost ideal demand system is used to estimate South Korean meat demand. The results of this study indicate that the United States has the most to gain from an increase in the size of the South Korean imported meat market in terms of its beef exports, while South Korea has the most to gain from this expansion in the pork market. Moreover, the results indicate that the United States has a competitive advantage to Australia in the South Korean beef market. Results of this study have implications for U.S. meat exports in this ever-changing policy environment.