Hubbard LJ

Philippidis G

Hubbard and Philippidis (2001) employ a standard computable general equilibrium model to analyse the impacts of the BSE-induced ban on exports of UK beef. This paper extends their study by employing a dynamic version of the model which incorporates additional features such as interregional capital allocation, endogenous capital accumulation and net foreign equity ownership. Moreover, from a policy perspective, improvements have been made through inclusion of the foot and mouth crisis and varied consumer confidence scenarios, whilst impact analysis is now compared through time using detailed annual projections and agricultural policy shocks. Despite full restoration of foreign consumer confidence in UK beef exports, long run comparisons with a ‘no-ban’ baseline suggest that output and export recovery in affected meat sectors is not complete, although speculative confidence gains from remedial safeguards and assurances provided in the wake of the BSE and foot and mouth crises are estimated to have potential benefits to UK meat sectors

Economic effects of export bans on British beef

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