Two problems for developing economies confronted with food shortages are (1) how to acquire sufficient food and still stabilize food prices in the short-run and (2) how to increase food production and realize food self-sufficiency in the long-run. Solving these two problems is often considered a precondition to achieving steady economic growth and industrialization. This study was concerned with the Republic of Korea, where economic development plans have been initiated during the last two decades under the condition of annual food grain shortages. Efforts to overcome these shortages have resulted in South Korea becoming the fastest growing major market for U.S. farm products in the Far East. The main purpose of this study was to analyze the relationships between government food grain policy and the consumption and supply of food grains. Food grains under analysis were limited to rice, barley and wheat (major food grains) which are the main dietary items in Korea.
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South Dakota State University
Payne, William F. and Jo, Kyo II, "Analysis of the Republic of Korea Food Grain Situation" (1973). Agricultural Experiment Station Agricultural Economics Pamphlets. 154.