This paper examines the effects of aging and income subsidies on farm efficiency in Korea by utilizing the Korean Farm Household Economic Survey from 2008 to 2015. A stochastic frontier model with a non-monotonic assumption on the effect of efficiency factors is implemented to reflect a super aging and less developed production structure in Korean agriculture. This study finds continuously decreasing farm efficiency with age, which contradicts the commonly assumed inverted-U relationship between age and productivity. Especially, we find that labor is the most important factor to explain recent farm efficiency losses in Korea. Furthermore, this paper finds that the Korean income subsidy has a negative effect on farm efficiency. Our results provide two policy implications for the government of Korea. First, even though the “Returns to the Farm and Rural program” is appropriate, Korea should modify the program to encourage more young people to participate this program rather than old people, in order to attain the sustainable development of the agricultural sector. Second, a policy maker in Korea should consider a coupled subsidy that is directly related to farm production rather than a decoupled subsidy, regardless of the lower efficiency of the coupled subsidy in achieving agricultural development.

The aim of this study is to test the hypothesis that environmental stringency adversely affects the international competitiveness (net exports) in manufacturing sectors. The model follows the standard factor endowment approach to explain the effects of environmental regulatory policy on net exports in different product-based industries. An econometric model is constructed, which includes factor endowments and environmental regulations to examine how strict environmental policies impact export competitiveness. A panel dataset of 10 Organisation for Economic Co-operation and Development (OECD) countries, over 17 years, 1987–2003, was constructed for the modelling effort. The study finds that environmental regulations can be a way to combat the flight of manufacturing out of developed countries if the output from these industries can be identified as environmentally friendly. A positive relationship between net exports and environmental regulations was found for paper products, wood products and textile products. However, most manufacturing industries are harmed by increased environmental regulations.

Despite the growing interest of producers and consumers toward grass-fed, local, and organic beef, the supply chain for these products to reach consumers is not always clear-cut. Among the available options are direct-to-consumers and the conventional food supply chain. Although consumers may pay a premium for beef differentiated by quality attributes, the willingness to pay (WTP) difference across point-of-sales is unclear. In this study, we contrast the WTPs for conventional, grass-fed, local, and organic beef by brick-and-mortar supermarkets (B&Ms), farmers’ markets, and via online stores. We conduct a choice experiment with a nationwide online sample of American consumers. The findings indicate that compared to B&Ms, more consumers are reluctant to purchase beef from farmers’ markets and online outlets. Moreover, the WTP for quality-differentiated attributes varies significantly by the point-of-sales. For most consumers, the downside of online or farmers’ markets outweighs the upside of the quality-differentiated attributes sold in those venues.