인터넷 양곡거래소의 설립타당성과 참여의향에 대한 조사연구 = A Feasibility Study and a Survey on the Internet Based Grain Exchange

다국어 초록 (Multilingual Abstract)

The Internet based Grain Exchange(hereafter `IGE`) has potentials as a market institution for discovering fair rice price. IGE seems to have both information efficiency and cost efficiency. However, since buyers concern on the rice quality, a strict standardization for rice quality is a core prerequisite for a successful grain exchange. The intention of participation to the IGE has been surveyed for rice market participants. 31.44 percent out of 69 RPCs and 27.59 percent out of 60 rice wholesalers replied affirmatively on the participation to the IGE. With the support by government on transportation cost from RPC to wholesalers for the volume traded through the IGE, the rate of intention of participation would increase to 45.80% for RPCs and 35.29% for wholesalers, respectively. The budget for the support is estimated as between 0.9 to 1.8 billion Korean Won a year, assuming 5 to 10 percent of the amount of wholesale trade being traded through the IGE. Government support to the IGE is desirable, since the exchange is a public good.