Econometric modelling of the agricultural sector sustainable development
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Date
2022
Authors
Vasyl’yeva, O.
Kuzmenko, Mariia
Skrynchenko, Karina
Zapototskyi, S.
Maslova, O.
Journal Title
Journal ISSN
Volume Title
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Abstract
Using the Cobb-Douglas production function, econometric analysis with eco-socio-economic factors has shown that economic growth in agriculture is associated with improved quantitative and qualitative characteristics of labour potential, growing capital investment and reducing pollutant emissions. Estimation of the elasticity coefficients of the constructed Cobb-Douglas function (the sum exceeds 1) justifies that the economic development of agriculture mainly contains the features of a large-scale economy: modern level of science and technology provides advantageous expanding production to increase output. The constructed models allow to forecast assessment of the development of the agricultural sector’s components and can be used to develop the basic directions of the state agricultural policy to manage the formation and use of resource potential.
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Keywords
Cobb-Douglas production function, agricultural sector of Ukraine, gross value added, agriculture Ukraine, conference materials
Citation
Econometric modelling of the agricultural sector sustainable development / Vasyl’yeva O., Kuzmenko M., Skrynchenko K., Zapototskyi S., Maslova O. // 16th International Conference Monitoring of Geological Processes and Ecological Condition of the Environment, Monitoring, 15-18 November 2022. - Kyiv, 2022. - Code 188342. - https://doi.org/10.3997/2214-4609.2022580077