The corn market in Mexico: from the perspective of the industrial economy and the transaction costs

Abstract

The objective of the present investigation is to show the role that the institutions play in strategic markets for the countries, in this case the maize market in Mexico. It begins with a review of the background, essentially after NAFTA's entry into Mexico. Subsequently the subject is approached from the great theories that cover the institutions to be able to explain factors that have made the corn market continue to operate in Mexico. Explaining the current way of operating the market by studying transaction costs, and therefore market failures. Concluding with the revision of the impulse that has had the production the rural institutions through some mechanisms such as the production by contract in the rural environment.