DETERMINANTS OF PORK DEMAND FUNCTION BY VARIANCE INFLATION AND STEPWISE METHOD IN SOUTH KOREA.
Journal Title: International Journal of Advanced Research (IJAR) - Year 2018, Vol 6, Issue 3
Abstract
As trade barriers are collapsed by result of trade liberalization, competition of global pork market has been accelerated by each country. Since pork is the most consuming meat in South Korea, analysis of determinants to pork consumption is a good indicator in decision making of pork producers, distributors and consumers. In addition, it is useful for 6th industrialization combing production, processing and sales of pig. The predictive power on determinants for consumption of domestic pork (CDP) was confirmed by variance inflation factor and stepwise selection methods. We selected seven and four variables, respectively, depending on the both methods for examination of CDP determinants. Production and beginning stocks of domestic pork had the greatest influence on CDP and a positive relation with each other (P<0.01). However, CDP had a negative relationship between consumer price of Hanwoo beef and chicken meat. As this result is a different pattern from general economic theory, it is considered that the situation is owing to characteristic of meat consumption concentrated in summer at South Korea.
Authors and Affiliations
Tae Wan Kim, Chi Won Noh, Chul Wook Kim
Keywords
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- EP ID EP287963
- DOI 10.21474/IJAR01/6889
- Views 80
- Downloads 0
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