Maize, ethanol and welfare within the framework of (inter)national policies.
DOI:
https://doi.org/10.22231/asyd.v1i1.978Keywords:
center-periphery, simultaneous equations, elasticity, Marshallian surplus, neo-structuralismAbstract
The objective of this research is to show to what degree the unilateral decision of the United States to promote ethanol production contributed to raising the price of maize (Zea mays), resulting in increasing welfare for the agents of that country in detriment of Mexicans. For that purpose a model of simultaneous equations is estimated through the technique of least squares in three stages, which allows understanding the determination of the maize price in the US market during the period of 2000-2014. The results show that in face of an increase of 1 % in ethanol production, the price of maize increased in 0.61 %. This positive impact implied that in the United States (with maize surplus), the increase in producer surplus exceeds the loss of consumers. The contrary happened in Mexico (with maize deficit), which showed a net loss in welfare. Likewise, it can be seen that with the rise in price, opportunities arose since 2005 for producers in both countries. In the US maize production increased, both from the increase in hectares sown and from the production per hectare. In Mexico only the intensive margin was exploited.References
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