Abstract
The purpose of this study is to investigate some of the effects of GDP growth in certain developing nations on their demand for corn. GDP growth in developing countries causes a rapid rise in the world demand for corn for feed because of the increase in the demand for livestock products in developed countries.
In this study, we estimate the demand and supply functions for livestock products as well as the derived demand function for corn in the BRICs. Using the equilibrium conditions of the livestock products market, the effects of the exogenous variables corn price, income, and population on the derived demand for corn are also analyzed.
