BSE economical effects in the Portuguese Meat Industry between 1996-2015

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Name: Subject: Professor: Date: BSE Economical Effects on the UK Meat Industry from 1996 to 2015 The outbreak of BSE (mad cow disease) in North America, mainly the USA, and some parts of Europe, previously prevalent in the UK, has been and continues to be a major concern to the economic output of the meat industry. First discovered in the UK in 1986, the meat industry took a further hit when follow-up studies showed that BSE contaminated meat can cause Creutzfeldt-Jakob Disease (CJD) in human consumers. Basic economics indicate that the dangers associated with the mad cow disease can affect the market by destabilizing the demand patterns. However, a general effect on the market dynamics is dependent on other factors such as the availability of substitute products and effects of imports. The agenda of this research is to analyze the stability of the UK meat industry amidst the BSE cases identified. This study will be accomplished through a brief literature section that scrutinizes the situation in other affected countries, before using available data to determine how UK has been affected. Literature Coverage On Some Of The Affected Countries In a research analysis by Ashworth and Mainland in 1995, the nine years of BSE in the UK were already impacting the economic output of the beef industry. Even though the EU had not yet slapped an export ban, some beef exporters had already blocked beef imports from Britain. The term ‘mad cow disease’ was discouraged for negatively profiling the consumable meat. Links to CJD were still a mere speculation; thus, many consumers were not scared of eating non-contaminated products from BSE infected animals. A study by Jin et

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