ECONOMIC IMPACTS OF THE FINANCIAL CRISIS ON THE KOREAN FARM AND NON-FARM SECTORS

Abstract

The objective of this study is to construct a macroeconomic model emphasizing agriculture and analyze the economic impacts of the financial crisis on the Korean farm and non-farm sectors. The simulation results show that financial shocks have great impacts on general economy and change the resource allocation within and between farm and non-farm sectors.Financial Crisis, Macroeconomic Model, Agricultural Finance, Research Methods/ Statistical Methods,