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Capital Stock Value Development in Relation to the New EU Countries' Agricultural Sector Development

Author

Listed:
  • Miroslav Svatoš

    (Department of Economics and Department of Management, Faculty of Economics and Management, Czech University of Life Sciences in Prague, Kamýcká 129, Praha 6-Suchdol, 165 21, Czech Republic)

  • Luboš Smutka

    (Department of Economics and Department of Management, Faculty of Economics and Management, Czech University of Life Sciences in Prague, Kamýcká 129, Praha 6-Suchdol, 165 21, Czech Republic
    Faculty of Economics and Environmental Management, ITMO University, Saint Petersburg, Lomonosov street 9, St. Petersburg, 191002, Russian Federation)

  • Richard Selby

    (Department of Economics and Department of Management, Faculty of Economics and Management, Czech University of Life Sciences in Prague, Kamýcká 129, Praha 6-Suchdol, 165 21, Czech Republic)

Abstract

This paper will analyse agricultural sector development in individual new EU member states with emphasis on capital stock value development in agriculture. The main objective is to identify the relationship between capital stock value development, and agricultural sector performance in the individual analysed countries. The results of the analysis are as follows. The agricultural sector has significantly changed its structure and position within the national economy of individual new EU member states in the 20 years since the early 1990s. The size of the agricultural sector reduced in each of the analysed countries, resulting in a reduction in the value of the agricultural sector performance. Despite the significant reduction of the agricultural sector in many analysed, some became more efficient in terms of their agricultural sector performance. Individual country's agricultural sectors became more effective and more competitive. Individual country's agricultural sector size and performance development are closely related to capital stock value in agriculture. Both the agricultural sector structure, and agricultural sector production performance are closely related to available capital stock value. In line with the main objective of this paper, the most sensitive segments of the agricultural sector in relation to capital stock are livestock production, land development and the number of economically active persons in agriculture. Regarding sensitivity of agricultural production performance in relation to changes in capital stock value, the most sensitive are livestock production and non-food agricultural production.

Suggested Citation

  • Miroslav Svatoš & Luboš Smutka & Richard Selby, 2014. "Capital Stock Value Development in Relation to the New EU Countries' Agricultural Sector Development," Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, Mendel University Press, vol. 62(6), pages 1437-1450.
    • Handle: RePEc:mup:actaun:actaun_2014062061437
    DOI: 10.11118/actaun201462061437
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    References listed on IDEAS

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    1. V. Eldon Ball & W. A. Lindamood & Richard Nehring & Carlos San Juan Mesonada, 2008. "Capital as a factor of production in OECD agriculture: measurement and data," Applied Economics, Taylor & Francis Journals, vol. 40(10), pages 1253-1277.
    2. Johan Swinnen & Liesbet Vranken, 2010. "Reforms and agricultural productivity in Central and Eastern Europe and the Former Soviet Republics: 1989–2005," Journal of Productivity Analysis, Springer, vol. 33(3), pages 241-258, June.
    3. Bartosova, Dasa & Bartova, Lubica & Fidrmuc, Jarko, 2008. "EU Enlargement Implications on the New Member States Agri-food Trade," 2008 International Congress, August 26-29, 2008, Ghent, Belgium 44122, European Association of Agricultural Economists.
    4. Mezera, Josef & Spicka, Jindrich, 2013. "Economic Effects of Investment Support of Adding Value to Food Products," AGRIS on-line Papers in Economics and Informatics, Czech University of Life Sciences Prague, Faculty of Economics and Management, vol. 5(1), pages 1-11, March.
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    Cited by:

    1. Sadowski, Arkadiusz & Wojcieszak-Zbierska, Monika Małgorzata & Beba, Patrycja, 2021. "Territorial differences in agricultural investments co-financed by the European Union in Poland," Land Use Policy, Elsevier, vol. 100(C).
    2. Novotná, Martina & Volek, Tomáš, 2015. "Efficiency of Production Factors and Financial Performance of Agricultural Enterprises," AGRIS on-line Papers in Economics and Informatics, Czech University of Life Sciences Prague, Faculty of Economics and Management, vol. 7(4), pages 1-9, December.
    3. Andrejovská, A. & Buleca, J. & Hudákova, M., 2016. "Categorization of the EU Countries in the Context of Agricultural Production," AGRIS on-line Papers in Economics and Informatics, Czech University of Life Sciences Prague, Faculty of Economics and Management, vol. 8(4), pages 1-12, December.
    4. Jana Hornungová & František Milichovský, 2018. "Agricultural Sector Performance Evaluation in Terms of Financial Indicators: A Comparison of Czech Republic, Slovakia and Western Balkan States," Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, Mendel University Press, vol. 66(2), pages 497-507.

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