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Economic Performance of Agriculture in the European Union Countries

Author

Listed:
  • Rađenović Žarko

    (PhD, Innovation Centre of the University of Niš; Univerzitetski trg 2, 18000 Niš, Serbia)

  • Krstić Bojan

    (PhD, Prof., University of Niš, Faculty of Economics, Department of Business Management; Trg kralja Aleksandra Ujedinitelja 11, 18000 Niš, Serbia)

  • Marković Milan

    (PhD, Innovation Centre of the University of Niš; Univerzitetski trg 2, 18000 Niš, Serbia)

Abstract

The aim of the research is to classify the European Union (EU) countries based on the progress in the economic performance of agriculture. The originality of the paper stems from the fact that a new set of indicators (in relative form) was used to identify the clusters. The following indicators are used to assess the economic performance of the EU agricultural sector (by cluster analysis) for two periods (2015–2017 and 2018–2020): total labor force input, real income of factors in agriculture per annual work unit, total agricultural output, gross value added of the agricultural industry, and animal output. The study confirmed that EU countries, according to changes in agricultural performance, differ significantly. They were grouped into four relatively homogeneous clusters according to their similarity, with a clear geographical dispersion for both analyzed periods. Identifying development disparities between EU countries can be useful in future redesigns of the Common Agricultural Policy measures in terms of increased support to certain members.

Suggested Citation

  • Rađenović Žarko & Krstić Bojan & Marković Milan, 2022. "Economic Performance of Agriculture in the European Union Countries," Zagadnienia Ekonomiki Rolnej / Problems of Agricultural Economics, Sciendo, vol. 370(1), pages 5-21, March.
    • Handle: RePEc:vrs:zerpae:v:370:y:2022:i:1:p:5-21:n:4
    DOI: 10.30858/zer/145686
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    More about this item

    Keywords

    agricultural indicators; heterogeneity of European agriculture; homogeneous country groups; cluster analysis; Ward’s method;
    All these keywords.

    JEL classification:

    • C38 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Classification Methdos; Cluster Analysis; Principal Components; Factor Analysis
    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
    • Q18 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Policy; Food Policy; Animal Welfare Policy

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