英文摘要 |
Global climate becomes unstable as green-house-gas emissioncontinues. Such climate changes have huge economic impacts onagriculture. The main purpose of this study is to estimate the value ofENSO forecast information on Taiwan’s rice industry. First, we estimatethe ENSO impacts on rice yield. The empirical results show that El Ninohas positive impacts, ranging from 2.2% to 8.3%, on rice yield at the firstproduction period in both central and southern regions. However, nosignificant change can be found in El Viejo and Neutral years. Second,a stochastic agricultural sector model is constructed to estimate the valueof ENSO information on rice based on the Bayesian theorem. We findthat if ENSO information is perfectly predicted and adopted by farmers toadjust their planting decisions, the value of such information is around2.45 NT billion. |