Potential Gains and Losses of Biofuel Production in Argentina : A Computable General Equilibrium Analysis
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World Bank, Washington, DC
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Argentina is one of the world's
largest biodiesel producers and the largest exporter, using
soybeans as feedstock. Using a computable general
equilibrium model that explicitly represents the biofuel
industry, this study carries out several simulations on two
sets of issues: (i) international markets for biofuel and
feedstock, such as an increase in prices of soybean, soybean
oil, and biodiesel, and (ii) domestic policies related to
biofuels, such as an introduction of biofuel mandates. Both
sets of issues can have important consequences to the
Argentinean economy. The simulations indicate that increases
in international prices of biofuels and feedstocks would
increase Argentina's gross domestic product and social
welfare. Increases in international prices of ethanol and
corn also can benefit Argentina, but to a lesser extent. The
domestic mandates for biofuels, however, would cause small
losses in economic output and social welfare because they
divert part of biodiesel and feedstock from exports to
lower-return domestic consumption. An increase in the export
tax on either feedstock or biodiesel also would lead to a
reduction in gross domestic product and social welfare,
although government revenue would rise.
Palabras clave
AGGREGATE DEMAND, AGRICULTURAL ACTIVITY, AGRICULTURAL ECONOMICS, AGRICULTURAL POLICIES, AGRICULTURAL PRODUCTION, AGRICULTURE, ALTERNATIVE ENERGY, ALTERNATIVE ENERGY SOURCES, ALTERNATIVE USE, APPROACH, AVAILABILITY, BALANCE OF PAYMENTS, BENCHMARK, BEVERAGES, BIODIESEL, BIOENERGY, BIOFUEL, BIOFUEL INDUSTRY, BIOFUEL PRODUCTION, BIOFUEL TECHNOLOGY, BIOFUELS, BIOFUELS INDUSTRIES, BIOFUELS INDUSTRY, BIOFUELS PRODUCTION, BIOMASS, BONDS, CANE PRODUCTION, CAPITAL USE, CD, CEREALS, CLIMATE CHANGE, COMPARATIVE ADVANTAGE, COMPARATIVE ADVANTAGES, COMPETITIVENESS, CONSUMER GROUPS, CONSUMERS, CROP, DAMAGES, DEBT, DEFORESTATION, DEMAND FOR CHEMICALS, DEMAND FOR GASOLINE, DEVELOPMENT POLICY, DIESEL, DISPOSABLE INCOME, DISTILLERIES, DIVIDENDS, ECONOMIC PERFORMANCE, ECONOMIC SYSTEMS, ELASTICITIES, ELASTICITY, ELASTICITY OF SUBSTITUTION, EMISSION, EMISSIONS, ENERGY ECONOMICS, ENERGY PRODUCTION, ENERGY SECTORS, ENERGY SOURCES, ENERGY SUPPLY, ENVIRONMENTAL CONCERNS, ENVIRONMENTAL ISSUES, ENVIRONMENTAL MANAGEMENT, EQUILIBRIUM, ETHANOL FROM CORN, EXPORTS, FEEDSTOCK, FEEDSTOCKS, FISCAL POLICY, FOOD POLICY, FOOD POLICY RESEARCH, FOOD PRICES, FOOD RESEARCH, FOOD SUPPLY, FOODS, FOSSIL, FOSSIL FUEL, FOSSIL FUEL COUNTERPARTS, FOSSIL FUELS, FUEL, FUEL DEMAND, FULL EMPLOYMENT, GAS EMISSION, GASOLINE, GASOLINE PRICES, GDP, GENERAL EQUILIBRIUM ANALYSIS, GHG, GRAINS, GROSS DOMESTIC PRODUCT, GROSS OUTPUT, GROWTH RATE, HOUSEHOLD EXPENDITURES, HOUSEHOLD INCOME, IFPRI, INCOME, INCOME GROUPS, INTERNATIONAL FOOD POLICY RESEARCH INSTITUTE, INTERNATIONAL TRADE, LAND USE, MAIZE, MARGINAL BENEFITS, MOBILITY, NATURAL GAS, OIL FUELS, OIL INDUSTRIES, OIL INDUSTRY, OIL PRODUCTION, OIL REFINERIES, OILS, OPEN ECONOMY, OPPORTUNITY COST, OPPORTUNITY COSTS, OPTIMIZATION, PETROLEUM, PRICE INCENTIVES, PRICES OF ETHANOL, PRODUCTION FUNCTION, PUBLIC SAVINGS, REGULATORY REGIMES, RENEWABLE ENERGIES, RENEWABLE ENERGY, RENEWABLE ENERGY SOURCES, SOY OIL, SOYBEAN, SOYBEAN OIL, SOYBEAN PRODUCTION, SOYBEANS, SUGAR, SUGAR CANE, SUGARCANE, SUNFLOWER OIL, TAX, TAX REVENUE, TOTAL REVENUE, TRADE BALANCE, TRADE LIBERALIZATION, TRADITIONAL FUELS, TRANSPORT, TRANSPORT SYSTEM, TRANSPORTATION, TRANSPORTATION FUELS, TRANSPORTATION INDUSTRY, UNEMPLOYMENT, UNEMPLOYMENT RATE, UTILITY FUNCTION, VALUE ADDED, VEGETABLE OIL, VEGETABLE OILS, VEHICLE, VEHICLE ENGINES, VEHICLE FLEET, VEHICLES, WAGES, WHEAT, WOOD