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An evaluation of the environmentally friendly direct payment program in Korea

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  • An evaluation of the environmentally friendly direct payment program in Korea
  • Kim, Chang-Gil; Lim, Song Soo
  • The Institute of Comparative Economic Studies


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Title An evaluation of the environmentally friendly direct payment program in Korea
Similar Titles
Material Type Articles
Author(English)

Kim, Chang-Gil; Lim, Song Soo

Publisher

[Tokyo]:The Institute of Comparative Economic Studies

Date 2015
Journal Title; Vol./Issue Journal of International Economic Studies:No. 29
Pages 20
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Financial Policy
Industry and Technology < Agriculture
Territorial Development < Environment
Holding The Institute of Comparative Economic Studies

Abstract

Welfare economics supports government intervention to ensure the proper provision of positive environmental externalities when markets fail to address it. As an effective policy instrument to rectify such a failure, the Environmentally Friendly Direct Payment Program (EFDPP) has been proposed and designed to be compatible with international trade rules. Since 1999 the EFDFF has contributed to growth of participating farms and areas. As of 2010, the program accounts for about 426,247 hectares of farmland with a payment of 483,000 won, or USD418 per hectare on average. A survey indicates both the participating farmers and program responsible government officials fully recognize the necessity and effectiveness of the program. (The rest omitted)