Estimación de las elasticidades precio e ingreso de la demanda del grupo de productos elaborados comestibles derivados del cacao en Colombia. 2000 - 2011

Abstract

Studies in the world on different types of elasticities applied to cocoa derivatives are of great scarcity; by focusing on a national level the picture is even more disturbing because of the limited generation of national data that are reliable and as tools for the development of research. Current research estimated price elasticities, income and cross demand for cocoa derivatives in Colombia during the period 2001-2011 using monthly information obtained from sources like SIPSA, DANE and Bank of Republic. These data were fitted to a double logarithmic model with autoregressive AR (3) type which was estimated using OLS. This in order to correct the problem of serial autocorrelation of waste. The processing of the data allowed to expose the reality of the Colombian chocolate market and investigate the behavior of substitute and complementary goods. Additionally it was found that cocoa products belong to the group of essential goods, ie a change in the income level does not affect the demand for these products. the conclusions of the results are presented, as well as a series of recommendations also provide for future research in the same line.