Wpływ zmian w otoczeniu makroekonomicznym na rozwój rolnictwa w krajach wysokorozwiniętych w długim okresie
Impact of changes in the macroeconomic environment on the development of agriculture in highly developed countries in the long period

Summary/Abstract: In the paper we estimated the impact of macro-economic determinants on the development of agricultural production in selected highly developed countries. The aim of the study was to evaluate the impact of the macroeconomic environment on the development of the agricultural sector in highly developed countries. The time of the analysis covered the years 1990-2016. Descriptive statistics (including structural analysis and dynamics) and panel regression with fixed effects were used in empirical analysis. The obtained results of the estimation of panel regression model confirmed the important role of macroeconomic determinants in the maintenance of agricultural development processes. Very important factors were variables such as economic growth, long-term interest rate, real effective exchange rate, unemployment rate, inflation rate.

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