Revisiting the Role of Agriculture in Economic Growth: Can Lower Food Prices Explain the Economic Transition Status of Indonesia Relative to South Korea?
The main objective of this article is to explain the possible mechanism between food prices and the economic transition status difference between Indonesia and South Korea. Moreover, the article also discusses the possible source of success in lowering food prices in the two economies. The two-goods...
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| Format: | Article |
| Language: | English |
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Departemen Ilmu Ekonomi Fakultas Ekonomi dan Bisnis Universitas Airlangga
2023-06-01
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| Series: | JDE (Journal of Developing Economies) |
| Subjects: | |
| Online Access: | https://e-journal.unair.ac.id/JDE/article/view/37795 |
| _version_ | 1827924200720957440 |
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| author | Ibnu Nur Hamzah |
| author_facet | Ibnu Nur Hamzah |
| author_sort | Ibnu Nur Hamzah |
| collection | DOAJ |
| description | The main objective of this article is to explain the possible mechanism between food prices and the economic transition status difference between Indonesia and South Korea. Moreover, the article also discusses the possible source of success in lowering food prices in the two economies. The two-goods consumption model for two economies is used to relate the relative economic transition status and food prices. The model and the historical data show a similar pattern: the economic transition is diverging between the two economies while the food prices are relatively getting more expensive in Indonesia. The possible sources of lower food prices are discussed. |
| first_indexed | 2024-03-13T05:08:22Z |
| format | Article |
| id | doaj.art-dcaef916a8ea4294bc1cbf01ae062305 |
| institution | Directory Open Access Journal |
| issn | 2541-1012 2528-2018 |
| language | English |
| last_indexed | 2024-03-13T05:08:22Z |
| publishDate | 2023-06-01 |
| publisher | Departemen Ilmu Ekonomi Fakultas Ekonomi dan Bisnis Universitas Airlangga |
| record_format | Article |
| series | JDE (Journal of Developing Economies) |
| spelling | doaj.art-dcaef916a8ea4294bc1cbf01ae0623052023-06-16T06:26:30ZengDepartemen Ilmu Ekonomi Fakultas Ekonomi dan Bisnis Universitas AirlanggaJDE (Journal of Developing Economies)2541-10122528-20182023-06-0181212810.20473/jde.v8i1.3779535864Revisiting the Role of Agriculture in Economic Growth: Can Lower Food Prices Explain the Economic Transition Status of Indonesia Relative to South Korea?Ibnu Nur Hamzah0https://orcid.org/0000-0002-7429-0288Swedish University of Agricultural SciencesThe main objective of this article is to explain the possible mechanism between food prices and the economic transition status difference between Indonesia and South Korea. Moreover, the article also discusses the possible source of success in lowering food prices in the two economies. The two-goods consumption model for two economies is used to relate the relative economic transition status and food prices. The model and the historical data show a similar pattern: the economic transition is diverging between the two economies while the food prices are relatively getting more expensive in Indonesia. The possible sources of lower food prices are discussed.https://e-journal.unair.ac.id/JDE/article/view/37795economic developmentfood priceagricultural productivitytrade reform |
| spellingShingle | Ibnu Nur Hamzah Revisiting the Role of Agriculture in Economic Growth: Can Lower Food Prices Explain the Economic Transition Status of Indonesia Relative to South Korea? JDE (Journal of Developing Economies) economic development food price agricultural productivity trade reform |
| title | Revisiting the Role of Agriculture in Economic Growth: Can Lower Food Prices Explain the Economic Transition Status of Indonesia Relative to South Korea? |
| title_full | Revisiting the Role of Agriculture in Economic Growth: Can Lower Food Prices Explain the Economic Transition Status of Indonesia Relative to South Korea? |
| title_fullStr | Revisiting the Role of Agriculture in Economic Growth: Can Lower Food Prices Explain the Economic Transition Status of Indonesia Relative to South Korea? |
| title_full_unstemmed | Revisiting the Role of Agriculture in Economic Growth: Can Lower Food Prices Explain the Economic Transition Status of Indonesia Relative to South Korea? |
| title_short | Revisiting the Role of Agriculture in Economic Growth: Can Lower Food Prices Explain the Economic Transition Status of Indonesia Relative to South Korea? |
| title_sort | revisiting the role of agriculture in economic growth can lower food prices explain the economic transition status of indonesia relative to south korea |
| topic | economic development food price agricultural productivity trade reform |
| url | https://e-journal.unair.ac.id/JDE/article/view/37795 |
| work_keys_str_mv | AT ibnunurhamzah revisitingtheroleofagricultureineconomicgrowthcanlowerfoodpricesexplaintheeconomictransitionstatusofindonesiarelativetosouthkorea |