Effects of the sunday shopping restriction in korea

Research output: Contribution to journalArticle

2 Citations (Scopus)

Abstract

We examine the effectiveness of Korea's Sunday superstore shopping regulation, whose purpose is to protect small- and medium-sized retailers as well as traditional markets. Applying a two-way random-effects regression model to the daily sales data of four megastores and four super supermarkets, we find the net sales decrease of superstores is on average 5.61% of daily sales after taking into account sales increases due to consumers' switching to weekdays. Only about 17%-19% of the reduced superstore sales are transferred to traditional markets. Based on these estimates, the compensating variation per year is predicted to be 2.4-2.5 trillion Korean won (around US $2.1-2.2 billion). (JEL L51, L88)

Original languageEnglish
Pages (from-to)203-215
Number of pages13
JournalContemporary Economic Policy
Volume34
Issue number1
DOIs
Publication statusPublished - 2016 Jan 1

Fingerprint

Korea
sales
market
Shopping
Superstores
regulation
regression
Regression model
Compensating variation
Retailers
Random effects
Supermarkets

All Science Journal Classification (ASJC) codes

  • Business, Management and Accounting(all)
  • Economics and Econometrics
  • Public Administration

Cite this

@article{18373d16cf3e463fab9710fceede29af,
title = "Effects of the sunday shopping restriction in korea",
abstract = "We examine the effectiveness of Korea's Sunday superstore shopping regulation, whose purpose is to protect small- and medium-sized retailers as well as traditional markets. Applying a two-way random-effects regression model to the daily sales data of four megastores and four super supermarkets, we find the net sales decrease of superstores is on average 5.61{\%} of daily sales after taking into account sales increases due to consumers' switching to weekdays. Only about 17{\%}-19{\%} of the reduced superstore sales are transferred to traditional markets. Based on these estimates, the compensating variation per year is predicted to be 2.4-2.5 trillion Korean won (around US $2.1-2.2 billion). (JEL L51, L88)",
author = "Choi, {Yun Jeong} and Jinook Jeong",
year = "2016",
month = "1",
day = "1",
doi = "10.1111/coep.12127",
language = "English",
volume = "34",
pages = "203--215",
journal = "Contemporary Economic Policy",
issn = "1074-3529",
publisher = "Wiley-Blackwell",
number = "1",

}

Effects of the sunday shopping restriction in korea. / Choi, Yun Jeong; Jeong, Jinook.

In: Contemporary Economic Policy, Vol. 34, No. 1, 01.01.2016, p. 203-215.

Research output: Contribution to journalArticle

TY - JOUR

T1 - Effects of the sunday shopping restriction in korea

AU - Choi, Yun Jeong

AU - Jeong, Jinook

PY - 2016/1/1

Y1 - 2016/1/1

N2 - We examine the effectiveness of Korea's Sunday superstore shopping regulation, whose purpose is to protect small- and medium-sized retailers as well as traditional markets. Applying a two-way random-effects regression model to the daily sales data of four megastores and four super supermarkets, we find the net sales decrease of superstores is on average 5.61% of daily sales after taking into account sales increases due to consumers' switching to weekdays. Only about 17%-19% of the reduced superstore sales are transferred to traditional markets. Based on these estimates, the compensating variation per year is predicted to be 2.4-2.5 trillion Korean won (around US $2.1-2.2 billion). (JEL L51, L88)

AB - We examine the effectiveness of Korea's Sunday superstore shopping regulation, whose purpose is to protect small- and medium-sized retailers as well as traditional markets. Applying a two-way random-effects regression model to the daily sales data of four megastores and four super supermarkets, we find the net sales decrease of superstores is on average 5.61% of daily sales after taking into account sales increases due to consumers' switching to weekdays. Only about 17%-19% of the reduced superstore sales are transferred to traditional markets. Based on these estimates, the compensating variation per year is predicted to be 2.4-2.5 trillion Korean won (around US $2.1-2.2 billion). (JEL L51, L88)

UR - http://www.scopus.com/inward/record.url?scp=84955192844&partnerID=8YFLogxK

UR - http://www.scopus.com/inward/citedby.url?scp=84955192844&partnerID=8YFLogxK

U2 - 10.1111/coep.12127

DO - 10.1111/coep.12127

M3 - Article

AN - SCOPUS:84955192844

VL - 34

SP - 203

EP - 215

JO - Contemporary Economic Policy

JF - Contemporary Economic Policy

SN - 1074-3529

IS - 1

ER -