IDEAS home Printed from https://ideas.repec.org/a/ags/agreko/267562.html
   My bibliography  Save this article

Factors Affecting The Demand For And Supply Of South African Yellow Maize Exports

Author

Listed:
  • Cleasby, R. C. G.
  • Darroch, M. A. G.
  • Ortmann, G. F.

Abstract

A simultaneous-equation model containing yellow maize export demand and supply functions was specified and estimated by Two-Stage Least Squares using annual data for the period 1960-1990. Export demand was influenced by the world price (real) of yellow maize and lagged exports. Export supply was explained by the lagged domestic producer price, lagged exports and random shocks in supply. The price elasticity of export demand estimated directly from the model was high (-37.90), but lower than that estimated by Johnson's indirect method (-181.30). Export supply in the short- and long-run was price inelastic and relatively more responsive to supply shocks. These results support a priori expectations that local yellow maize producers are price takers on the world market and that export supply reacts sluggishly to changes in the lagged producer price of yellow maize. Climatic variation was the major determinant of export supply. Implications for future yellow maize export supply of potential world trade liberalisation and niche marketing are discussed.

Suggested Citation

  • Cleasby, R. C. G. & Darroch, M. A. G. & Ortmann, G. F., 1993. "Factors Affecting The Demand For And Supply Of South African Yellow Maize Exports," Agrekon, Agricultural Economics Association of South Africa (AEASA), vol. 32(1), March.
    • Handle: RePEc:ags:agreko:267562
    DOI: 10.22004/ag.econ.267562
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/267562/files/agrekon-32-01-002.pdf
    Download Restriction: no
    File URL: https://ageconsearch.umn.edu/record/267562/files/agrekon-32-01-002.pdf?subformat=pdfa
    Download Restriction: no
    File URL: https://libkey.io/10.22004/ag.econ.267562?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. van Zyl, Johan, 1991. "Research Note: An Analysis Of The Supply Of Maize In South Africa," Agrekon, Agricultural Economics Association of South Africa (AEASA), vol. 30(1), March.
    2. van Zyl, J., 1986. "A Statistical Analysis Of The Demand For Maize In South Africa," Agrekon, Agricultural Economics Association of South Africa (AEASA), vol. 25(3), October.
    3. Throsby, C.D. & Rutledge, David J.S., 1979. "The Elasticity Of Demand For Exports: A Reply," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 23(1), pages 1-2, April.
    4. Marc Nerlove, 1956. "Estimates of the Elasticities of Supply of Selected Agricultural Commodities," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 38(2), pages 496-509.
    5. Johnson, Paul R., 1971. "Studies In The Demand For U. S. Exports Of Agricultural Commodities," Department of Economics and Business - Archive 259733, North Carolina State University, Department of Economics.
    6. Morris Goldstein & Mohsin S. Khan, 2017. "The Supply and Demand for Exports: A Simultaneous Approach," World Scientific Book Chapters, in: TRADE CURRENCIES AND FINANCE, chapter 2, pages 83-104, World Scientific Publishing Co. Pte. Ltd..
    7. Paul R. Johnson, 1977. "The Elasticity of Foreign Demand for U.S. Agricultural Products," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 59(4), pages 735-736.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Poonyth, Daneswar & van Zyl, Johan & Meyer, Ferdinand H., 2000. "Forecasting the market outlook for the South African maize and sorghum sector using econometric modeling," Agrekon, Agricultural Economics Association of South Africa (AEASA), vol. 39(4), pages 1-13, December.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Ndayitwayeko, W-M. & Odhiambo, M.O. & Nyangweso, P.M. & Korir, M.K., 2012. "Determinants of Beef Meat Supply in Burundi: A Vector Error Correction Model Approach Applied to structural Nerlov Paradign," 2012 Eighth AFMA Congress, November 25-29, 2012, Nairobi, Kenya 159414, African Farm Management Association (AFMA).
    2. Karsten Staehr, 2021. "Export performance and capacity pressures in Central and Eastern Europe," International Economics, CEPII research center, issue 165, pages 204-217.
    3. Peter G. Warr & Frances Wollmer, 1996. "The Demand For Ldc Exports Of Primary Commodities: The Case Of The Philippines," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 40(1), pages 37-49, April.
    4. Ping HUA & YUE, 2001. "Does Comparative Advantage Explain Export Patterns in China?," Working Papers 200108, CERDI.
    5. Bill Russell & Dooruj Rambaccussing, 2019. "Breaks and the statistical process of inflation: the case of estimating the ‘modern’ long-run Phillips curve," Empirical Economics, Springer, vol. 56(5), pages 1455-1475, May.
    6. Thi Hanh Vu, 2013. "International Export Flows of Vietnam :A Gravity Model Approach," Brussels Economic Review, ULB -- Universite Libre de Bruxelles, vol. 56(1), pages 83-108.
    7. Haile, M.G. & Kalkuhl, M., 2014. "Volatility in the international food markets: implications for global agricultural supply and for market and price policy," Proceedings “Schriften der Gesellschaft für Wirtschafts- und Sozialwissenschaften des Landbaues e.V.”, German Association of Agricultural Economists (GEWISOLA), vol. 49, March.
    8. Mahama, Ramatu, 1985. "A stochastic simulation of the impact of price insulation policies on world wheat market stability," ISU General Staff Papers 198501010800008868, Iowa State University, Department of Economics.
    9. Martínez-Zarzoso, Inmaculada & Nowak-Lehmann D., Felicitas, 2004. "MERCOSUR-European Union Trade: How important is EU Trade Liberalisation for MERCOSUR's Exports?," University of Göttingen Working Papers in Economics 30, University of Goettingen, Department of Economics.
    10. Hubert Strauß, 2001. "Euroland's Trade with Third Countries: An Estimation Based on NIPA Data," Vierteljahrshefte zur Wirtschaftsforschung / Quarterly Journal of Economic Research, DIW Berlin, German Institute for Economic Research, vol. 70(3), pages 434-449.
    11. Paniagua-Molina, Javier & Solís-Rivera, Luis Ricardo, 2020. "Effect of “Golden Pineapple Innovation” on Costa Rica's Pineapple Exports to U.S. Market: An Econometric Approach," International Journal of Food and Agricultural Economics (IJFAEC), Alanya Alaaddin Keykubat University, Department of Economics and Finance, vol. 8(3), July.
    12. Nicolas Berman & Antoine Berthou, 2006. "Financial market imperfections and the impact of exchange rate movements," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00118834, HAL.
    13. Filip Pastucha, 2021. "Analysis of the export and import function of the Czech Republic: aggregate and structural view [Analýza exportní a importní funkce ČR - agregovaný a strukturální pohled]," Český finanční a účetní časopis, Prague University of Economics and Business, vol. 2021(2), pages 5-26.
    14. Nektarios A. Michail, 2018. "Estimating a Bilateral J‐curve between the UK and the Euro Area," Manchester School, University of Manchester, vol. 86(6), pages 757-769, December.
    15. Russell, Bill & Chowdhury, Rosen Azad, 2013. "Estimating United States Phillips curves with expectations consistent with the statistical process of inflation," Journal of Macroeconomics, Elsevier, vol. 35(C), pages 24-38.
    16. Czyżewski Andrzej & Staniszewski Jakub, 2015. "Changes in the production factor’s structures in agriculture in the light of price adjustments. A case study of selected EU countries," Management, Sciendo, vol. 19(2), pages 136-151, December.
    17. Hanh Vu Thi, 2015. "Essays on the Export Performance of Vietnam/Essais sur la Performance à l'Exportation du Vietnam," ULB Institutional Repository 2013/216765, ULB -- Universite Libre de Bruxelles.
    18. Fakhri J. Hasanov & Muhammad Javid & Frederick L. Joutz, 2022. "Saudi Non-Oil Exports before and after COVID-19: Historical Impacts of Determinants and Scenario Analysis," Sustainability, MDPI, vol. 14(4), pages 1-38, February.
    19. Torok, Steven John, 1982. "International trade in commodities and labor: the case of the importation of Mexican agricultural labor and fresh market winter tomatoes into the US, 1964-1979," ISU General Staff Papers 198201010800008550, Iowa State University, Department of Economics.
    20. Meyer, Kevin Michael, 2017. "Three essays on environmental and resource economics," ISU General Staff Papers 201701010800006585, Iowa State University, Department of Economics.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:agreko:267562. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: AgEcon Search (email available below). General contact details of provider: https://edirc.repec.org/data/aeasaea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.