IDEAS home Printed from
MyIDEAS: Log in (now much improved!) to save this article

Effects of the Financial and Economic Crisis on the Rural Landscape as well as the Agri-food Sector in Europe and Central Asia

Listed author(s):
  • Csaba Csáki


    (Department of Agricultural Economics and Rural Development, Corvinus University of Budapest)

  • Gertrud Buchenrieder


    (Martin-Luther-University, Halle-Wittenberg, Institute of Agricultural and Food Sciences associated scholar, IAMO)

This paper reviews the expected effects of the current financial crisis and subsequent recession on the rural landscape, in particular the agri-food sector in Europe and Central Asia (ECA) on the basis of the structure of the rural economy and of different organisations and institutions. Empirical evidence suggests that the crisis has hit the ECA region the hardest. Agriculture contributes about 9% to gross domestic product (GDP) for the ECA region as a whole with 16% of the population being employed in the agricultural sector. As far as the impact of the financial crisis on the agri-food sector is concerned, there are a few interconnected issues: (1) reduction in income elastic food demand and commodity price decline, (2) loss of employment and earnings of rural people working in urban centres, implying also costly labour reallocation, (3) rising rural poverty originating mainly from lack of opportunities in the non-farm sector and a sizable decline of international remittances, (4) tightening of agricultural credit markets, and the (5) collapse of sectoral government support programs and social safety-net measures in many countries. The paper reveals how the crisis hit farming and broader agri-business differently in general and in the ECA sub-regions.

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL:
Download Restriction: subscription

As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

Article provided by Akadémiai Kiadó, Hungary in its journal Society and Economy.

Volume (Year): 33 (2011)
Issue (Month): 2 (August)
Pages: 249-270

in new window

Handle: RePEc:aka:soceco:v:33:y:2011:i:2:p:249-270
Note: This article is an extended version of Buchenrieder – Csáki (2010).
Contact details of provider: Web page:

Order Information: Postal: Akadémiai Kiadó Zrt., Prielle K. u. 21-35. Budapest, 1117, Hungary
Web: Email:

No references listed on IDEAS
You can help add them by filling out this form.

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:aka:soceco:v:33:y:2011:i:2:p:249-270. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Vajda, Lőrinc)

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 references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link 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 profile, as there may be some citations waiting for confirmation.

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

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.