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KMID : 1024520140230040707
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Journal of the Environmental Sciences
2014 Volume.23 No. 4 p.707 ~ p.713
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Economic Impacts of Abnormal Climate on Total Output of Red Pepper
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Cho Jae-Hwan
Suh Jeong-Min
Kang Jum-Soon
Hong Chang-Oh
Lim Woo-Taik
Shin Hyun-Moo
Kim Woon-Won
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Abstract
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The purpose of this article is analyzing the economic impacts of abnormal climate on total revenue of red pepper in Korea, with employing the equilibrium displacement model. Our simulation results show the rate of yield change, price change, and total revenue change according to the climate change scenarios. In th case of by RCP 8.5 Scenario, red pepper production volume would be expected to decrease by 77.2% compared to 2012 while price increasing by 29.6%. As a result, total revenue to be returned to farmers would be reduced by 47.6% than it was in 2012. In contrast, total revenue would be expected to decline by 29.6% according to RCP 4.5 scenario.
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KEYWORD
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Equilibrium displacement model, Economic impacts, Abnormal climate, Red pepper, Total revenue
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