환율전가도를 통한 수입돈육시장의 경쟁구조 분석

A Study on the Competitive Structure of Imported Pork Market in Korea by Exchange Rates Pass-through

The import of pork has increased dramatically since multi-lateral free trade agreements settled in 1997, and the competition among exporting countries has been none but fierce to threat competitive edge of domestic pork producers. This study analyzes competitive position of major export countries, namely, Unites States, Chile, Canada, Belgium, Denmark, Hungary and Netherlands in Korean imported pork market by exchange rates pass- through (ERPT). This study conducts cointegration test to analyze the degree of exchange rate pass-through in the presence of oligopolistic competition among exporting countries. The cointegration results show that there exists a long-run equilibrium relationship among expected prices of exporting countries. It is found that there exists a significant competitive relationship between exporting countries but these countries do not respond to their own exchange rate changes. This result indicates that they try to seize competitive power and/or market share in Korean imported pork market regardless of the change in exchange rate.