THE ROLE OF AGRICULTURE IN ROMANIAN DEVELOPMENT

Bianca AVRAM Pop () and Simona Sabou ()
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Bianca AVRAM Pop: Technical University of Cluj-Napoca, North University Center in Baia Mare, Romania
Simona Sabou: Technical University of Cluj-Napoca, North University Center in Baia Mare, Romania

Business Excellence and Management, 2018, vol. 8, issue 1, 5-18

Abstract: The aim of this study is to identify the role agriculture plays in the economic development of Romania. Consequently, we studied the specialized literature, which analyzes the relationship between agriculture and the economic development, as well as the role of agriculture in reducing poverty. In order to study the impact on Romanian economy of the shift from a centralized economy to the market economy, we use four variables of which the independent one is represented by the added value of agriculture, and the other three variables are dependent, they only slightly characterize Romanian economy: the GDP/capita, inflation consumer prices and external debt stocks. Conclusions show that the increase of the added value in agriculture positively influences the evolution of the GDP/capita. At the same time, it also exercises a major influence on inflation, thus the positive correlation highlights the fact that the annual percentage of the purchase price of a consumer basket will decrease when the internal crop is rich, and it will increase when agriculture production is unsatisfactory. It is interesting to notice that Romania’s external debt increases when the added value of agriculture records surges as compared to the previous years.

Keywords: Agriculture; Inflation; GDP/Capita; External debt (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:rom:bemann:v:8:y:2018:i:1:p:5-18

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