The Import Demand for Corn in Changing Macroeconomic Circumstances

IF 1.3 Q3 ECONOMICS

International Trade Journal Pub Date : 2022-07-21 DOI:10.1080/08853908.2022.2096730

Carlos Arnade, W. Liefert

引用次数: 0

Abstract

ABSTRACT This article examines the import behavior of major importers of corn over the period of 1996 to 2016. The article uses an upper-stage import demand equation for corn to estimate countries’ elasticities of import demand with respect to income/GNP, the import price, exchange rate, domestic corn production, and animal inventories. The article also examines whether countries’ corn import demand is sensitive to changes in income and the exchange rate during macroeconomic downturns, specifically when both nominal GNP falls and the currency depreciates. The results show greater import demand responsiveness in periods of macroeconomic stability, as opposed to downturns.

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宏观经济环境变化中的玉米进口需求

本文考察了1996 - 2016年玉米主要进口国的进口行为。本文使用玉米进口需求的上一阶段方程来估计各国在收入/GNP、进口价格、汇率、国内玉米产量和动物存栏量方面的进口需求弹性。本文还考察了各国的玉米进口需求是否对宏观经济衰退期间收入和汇率的变化敏感，特别是当名义国民生产总值下降和货币贬值时。结果表明，在宏观经济稳定时期，进口需求的反应性比经济低迷时期更强。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

International Trade Journal Economics, Econometrics and Finance-Economics, Econometrics and Finance (all)

CiteScore

1.90

自引率

0.00%

发文量

期刊介绍： The International Trade Journal is a refereed interdisciplinary journal published for the enhancement of research in international trade. Its editorial objective is to provide a forum for the scholarly exchange of research findings in,and significant empirical, conceptual, or theoretical contributions to the field. The International Trade Journal welcomes contributions from researchers in academia as well as practitioners of international trade broadly defined.