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Determinants Of Economic Growth In The Romanian Agri-Food Sector – Developments And Trends

Author

Listed:
  • Elena Carmen BUCUR

    (Institute of Agricultural Economics, Romanian Academy, Bucharest)

  • Sorinel Ionel BUCUR

    (Institute of Agricultural Economics, Romanian Academy, Bucharest)

Abstract

The economic growth determinants in a national economy or sector have been the subject of many debates among experts, starting from the identification of the indicators considered to be the economic growth drivers, to the correlations between them and to the interpretations of results. This approach aims to identify the extensive and intensive indicators with direct influence upon economic growth in the Romanian agro-food sector and to test the influence of factors upon the effect indicators by constructing an econometric model. Referring to the agri-food sector, the following were identified as indicators/influence factors of economic growth: gross value added, crop and livestock production value, livestock herds, agricultural production in terms of cereal units, employed population, consumption of main products, labor productivity, prices. The analysis of the data series of the indicators mentioned above and the correlations between them reveal their involutions in terms of efficiency and productivity, being still far from ensuring the sustainable economic growth in the agri-food sector.

Suggested Citation

  • Elena Carmen BUCUR & Sorinel Ionel BUCUR, 2014. "Determinants Of Economic Growth In The Romanian Agri-Food Sector – Developments And Trends," Agricultural Economics and Rural Development, Institute of Agricultural Economics, vol. 11(1), pages 61-78.
  • Handle: RePEc:iag:reviea:v:11:y:2014:i:1:p:61-78
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    References listed on IDEAS

    as
    1. Robert J. Barro, 1998. "Determinants of Economic Growth: A Cross-Country Empirical Study," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262522543, February.
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    More about this item

    Keywords

    determinants; efficiency; results; agri-food sector;
    All these keywords.

    JEL classification:

    • Q10 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - General
    • Q11 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Aggregate Supply and Demand Analysis; Prices

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