An Econometric Model of Irish Beef Exports
dc.contributor.author | Hanrahan, Kevin | * |
dc.date.accessioned | 2017-08-01T15:47:52Z | |
dc.date.available | 2017-08-01T15:47:52Z | |
dc.date.issued | 2001-01-01 | |
dc.identifier.citation | Hanrahan, K., An Econometric Model of Irish Beef Exports, End of Project Reports, Teagasc, 2001. | en_GB |
dc.identifier.uri | http://hdl.handle.net/11019/1264 | |
dc.description | End of Project Report | en_GB |
dc.description.abstract | This report summarizes research that the author undertook as part of his doctoral studies in the Department of Agricultural Economics at the University of Missouri- Columbia.† The policy environment within which the Irish beef sector operates is changing such that the demand for Irish beef will increasingly be of a market rather than a policy determined nature. This changing environment makes knowledge concerning the demand for Irish beef important to understanding the economic prospects of the sector. The objectives of this research were thus two fold. The first objective was to investigate the demand for Irish beef in the UK. The second objective relates to how such consumer demand models are econometrically estimated. The empirical results show that the demand for beef in general in the UK is not price elastic and that the demand for Irish beef in the UK is price inelastic. The expenditure elasticity of demand for beef in the UK is also inelastic. The implications of this result for the Irish beef industry are as follows Decreases in the price of beef in the UK will not lead to large increases in British demand for beef. Increases in expenditure on meats will see expenditure on beef increase but to a lesser extent than other meats. Increases in the price of Irish beef relative to the prices of other beef products on the UK market will not lead to a large decrease in the market share of Irish beef. The relative insensitivity of demand for Irish beef in the UK to changes in its relative price also implies that attempts to increase the Irish share of the UK beef market will require very large reductions in the price of Irish beef. Given the current dependence of the Irish beef industry on subsidized exports to non-EU markets, the results of this research imply that attempts to re-orientate the Irish industry more towards servicing EU beef markets will require either large price decreases, with the consequent impacts on the market based revenue of the Irish beef industry and farmers, or alternatively, a movement towards the production of beef products that appeal to the non-price concerns of EU consumers and away from the production of a commodity product. | en_GB |
dc.language.iso | en | en_GB |
dc.publisher | Teagasc | en_GB |
dc.relation.ispartofseries | End of Project Reports; | |
dc.subject | Econometric modelling | en_GB |
dc.subject | Beef production | en_GB |
dc.subject | Consumer demand | en_GB |
dc.subject | Export | en_GB |
dc.title | An Econometric Model of Irish Beef Exports | en_GB |
dc.type | Technical Report | en_GB |
dc.identifier.rmis | 4378 | |
refterms.dateFOA | 2018-01-12T08:46:23Z |
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REDP End of Project Reports [93]
End-of-project reports from the REDP PRogramme