Rapid Growth of Selected Asian Economies. Lessons and Implications for Agriculture and Food Security. Republic of Korea, Thailand and Viet Nam
Policy assistance series
The Republic of Korea has undergone radical changes from an agricultural to an industrial society within one generation. During this process, the share of agriculture in the GDP, the agricultural population and the number of rural communities declined sharply because of urbanization. Recognizing the diverse roles that agriculture plays, the government has maintained price control and trade protection measures to maintain self-sufficiency for staple crops. However, the completion of the Uruguay Round (UR) forced Korean agriculture to open up its markets and cut trade-distorting subsidies. The traditional price-support policy will be replaced by an income-support policy, which needs a large government budget. Korean farmers are very concerned about the ongoing Doha Development Agenda (DDA) and Free Trade Agreements (FTA), which are the greatest challenges that Korean agriculture is facing.
Republic of Korea, Thailand, Vietnam
Asia and the Pacific
Poverty and food security, Agricultural and sub-sectoral policies