Assessing dynamic stability of economic development of global food markets in the context of globalization
-
Author(s)Mykola SychevskiyLink to ORCID Index: https://orcid.org/0000-0002-5672-9189
,
Olga KovalenkoLink to ORCID Index: https://orcid.org/0000-0001-8364-3316
,
Liudmyla DeinekoLink to ORCID Index: https://orcid.org/0000-0003-0540-5413
,
Lyudmyla YashchenkoLink to ORCID Index: https://orcid.org/0000-0002-4893-8191
-
DOIhttp://dx.doi.org/10.21511/ppm.20(2).2022.31
-
Article InfoVolume 20 2022, Issue #2, pp. 372-388
- Cited by
- 438 Views
-
173 Downloads
This work is licensed under a
Creative Commons Attribution 4.0 International License
The global food market is in constant transformation. Cyclical fluctuations and force majeure (financial crises, epidemics, military actions) affect the volumes of production, consumption, exports and imports of food products. Therefore, the study of the dynamic stability of the growth of world food markets is especially relevant. The purpose of the study is to assess the dynamic stability of economic growth in the world food markets: cheese, butter and sugar. The study used general scientific and special methods: dialectical and logical to summarize the scientific foundations for ensuring the sustainable development of world food markets; regression analysis – to determine the direction of market development; variational analysis – to determine the sustainability of market development. The advantage of the approach proposed in the paper is the assessment of the direction of development by the regression coefficients and the amplitude of fluctuations by the average percentage of deviations from the trend, which allows more correct interpretation of the results than when using only the coefficient of variation, which takes into account changes around the average value. It is established that the world markets for cheese, butter and sugar from 2011 to 2020 are characterized by dynamically stable growth in production, consumption, exports and imports. However, the markets of individual countries have developed unevenly: cheese production is most attractive and less risky in the EU, Brazil and South Korea; butter production in the EU and India; sugar production – in the USA, India, Algeria. Forecast calculations confirm the likelihood of growth in these markets.
- Keywords
-
JEL Classification (Paper profile tab)C22, C62, L66, Q11, Q18
-
References25
-
Tables10
-
Figures1
-
- Figure 1. Algorithm for assessing the dynamic stability of sectoral food markets’ growth
-
- Table 1. Comparison of the traditional and improved approaches to assessing dynamic stability of the growth of the global cheese market in 2011−2020
- Table 2. Comparison of the traditional and improved approaches to assessing dynamic stability of the growth of the global butter market in 2011−2020
- Table 3. Comparison of the traditional and improved approaches to assessing dynamic sustainability of the growth of the global sugar market in 2011−2020
- Table 4. Investment attractiveness and risks of investing in the global cheese market
- Table 5. Investment attractiveness and risks of investing in the global butter market
- Table 6. Investment attractiveness and risks of investing in the global sugar market
- Table A1. Coefficient of variation for the dynamic set of indicators of the global cheese market
- Table A2. Coefficient of variation for the dynamic set of indicators of the global butter market
- Table A3. Coefficient of variation for the dynamic set of indicators of the global sugar market
-
- Ariffin, S. K., Dihanan, N. N., & Wahid, N. A. (2019). Investigating the factors affecting consumer purchase intention towards halal organic food. Journal of Entrepreneurship, Business and Economics, 7(2), 162-188.
- Bek, V. L. (2003). Teriia statystyky: Kurs lektsii [Theory of statistics: a course of lectures] (288 p.). Kyiv: TsUL. (In Ukrainian).
- Bobrovska, O. Yu. (Ed.) (2021). Sustainable development of territories: challenges and opportunities: monograph (234 p.). Tallinn, Estonia: International Center for Research, Education and Training.
- Declaration of Nyéléni. (2007). Conference report. Nyéléni Village, Sélingué, Mali.
- Drahomyretska, N. M. (2019). Kontseptsii staloho rozvytku: teoretyko-istorychnyi aspekt [Concepts of sustainable development: theoretical and historical aspect]. Derzhavne upravlinnia ta mistseve samovriaduvannia: zb. nauk. prats DRIDU NADU – Public administration and local self-government: coll. of scient. publ. of DRIDU NADU, 1(40), 6-12. (In Ukrainian).
- European Coordination Via Campesina. (2018). Food sovereignty now: a guide to food sovereignty (32 p.). Bruxelles, Belgium.
- Food and Agriculture Organization of the United Nations (FAO). (1996). Rome Declaration on World Food Security.
- Food and Agriculture Organization of the United Nations (FAO). (2021a). The State of Food Security and Nutrition in the World. Rome, Italy: FAO, IFAD, UNICEF, WFP and WHO.
- Food and Agriculture Organization of the United Nations (FAO). (2021b). Global food trade is buoyant, as are prices. Rome.
- Gunaratne, M. S., Radin Firdaus, R. B., & Rathnasooriya, S. I. (2021). Climate change and food security in Sri Lanka: towards food sovereignty. Humanities and Social Sciences Communication, 8, 229.
- Iudina, O. I. (2020). Otsinka stupenia stiikoho ekonomichnoho zrostannia pidpryiemstva hotelno-restorannoho hospodarstva na osnovi indykatoriv dynamichnoho rozvytku faktoriv vyrobnytstva [Assessment of the degree of sustainable economic growth of the hotel and restaurant industry on the basis of indicators of dynamic development of factors of production]. Ekonomichnyi prostir – Economic Space, 154, 141-144. (In Ukrainian).
- Kasych, A., & Yakovenko, Ya. (2019). Uzahalnennia polozhen ekonomichnoi nauky shchodo stiikoho rozvytku pidpryiemstva [Generalization of the provisions of economic science on the sustainable development of the enterprise]. Visnyk Kyivskoho natsionalnoho universytetu imeni Tarasa Shevchenka. Ekonomika – Bulletin of Taras Shevchenko National University of Kyiv. Economics, 2(203), 37-46. (In Ukrainian).
- Kasych, A., & Мarek, M. (2018). Methodical support of the enterprise sustainable development management Vochozka. Marketynh i menedzhment innovatsii – Innovation management and marketing, 1, 371-381.
- Marushevskyi, H. B., & Nyzhnyk, O. M. (2017). Metodychni rekomendatsii dlia vrakhuvannia Tsilei staloho rozvytku v stratehiiakh rozvytku terytorialnykh hromad [Methodical recommendations for taking into account the Sustainable Development Goals in the development strategies of territorial communities]. (In Ukrainian).
- Naylor, R., Liska, A., Burke, M., Falcon, W., Gaskell, J., Rozelle, S., & Cassman, K. (2007). The ripple effect: biofuels, food security and the environment. Environment: Science and policy for sustainable development, 49(9), 30-43.
- Nejati, M., Salamzadeh, Y., & Salamzadeh, A. (2011). Ecological purchase behaviour: insights from a Middle Eastern country. International Journal of Environment and Sustainable Development, 10(4), 417-432.
- Petrunenko, I., Grabchuk, I., Vlasenko, T., Petrova, E., & Strikha, L. (2021). Ensuring food security of EU countries in the context of sustainable development. Journal of management Information and Decision Sciences, 24(2), 1-12.
- Queiroz, C., Norström, A. V., Downing, A., Harmáčková, Z. V., Coning, C. D., Adams, V., Bakarr, M., Baedeker, T., Chitate, A., Gafney, O., Gordon, L., Hainzelin, E., Howlett, D., Krampe, F., Loboguerrero, A. M., Nel, D., Okollet, C., Rebermark, M., Rockström, J., … Matthews, N. (2021). Investment in resilient food systems in the most vulnerable and fragile regions is critical. Nature Food, 2, 546-551.
- Revenko, D. S. (2014). Doslidzhennia dynamichnoi stiikosti ekonomichnoho zrostannia Ukrainy (determinovanyi pidkhid) [Study of dynamic stability of economic growth of Ukraine (deterministic approach)]. Visnyk Skhidnoievropeiskoho universytetu ekonomiky i menedzhmentu. Seriia: Ekonomika i menedzhment – Bulletin of the East European University of Economics and Management. Series: Economics and Management, 2(17), 146-155. (In Ukrainian).
- U.S. Department of Agriculture. (2021, December 17). Dairy: World Markets and Trade.
- UNECE. (2013). Kabinetnoye issledovaniye po otsenke potentsiala stran Vostochnoy Evropy. Kavkaza i Tsentralnoy Azii v proizvodstve statistiki po izmereniyu ustoychivogo razvitiya i ekologicheskoy ustoychivosti v ramkakh proyekta Scheta razvitiya OON. Tema 2: Izmereniye ustoychivogo razvitiya [Office study on the Capacity Assessment of Eastern Europe, the Caucasus and Central Asia in the production of statistics to measure sustainable development and environmental sustainability in the framework of the UN Development Account project. Topic 2: Measuring sustainable development]. (In Russian).
- United Nations. (1987). Report of the World Commission on Environment and Development: Our Common Future (247 p.).
- Waldron, A., Garrity, D., Malhi, Y., Girardin, C., Miller, D. C., & Seddon, N. (2017). Agroforestry can enhance food security while meeting other sustainable development goals. Tropical Conservation Science, 10, 1-6.
- World Food Programme (WFP). (n.d.). Hunger Snapshots.
- Zghurovskyi, M. (2006). Ukraina u hlobalnykh vymirakh staloho rozvytku [Ukraine in the global dimensions of sustainable development]. Hazeta “Dzerkalo tyzhnia” – The Newspaper “The Mirror of the Week”, 19. (In Ukrainian).
-
Impact on poverty and income inequality in Malaysia’s economic growth
Rabiul Islam ,
Ahmad Bashawir Abdul Ghani ,
Irwanshah Zainal Abidin ,
Jeya Malar Rayaiappan
doi: http://dx.doi.org/10.21511/ppm.15(1).2017.05
Problems and Perspectives in Management Volume 15, 2017 Issue #1 pp. 55-62 Views: 11846 Downloads: 5652 TO CITE АНОТАЦІЯPoverty and income inequality are extreme issues that still exist in Malaysia. Any rise in poverty and income inequality definitely affect economic growth. There are many great efforts taken by the government of Malaysia to eradicate poverty and to reduce the gap of income inequality which occurs since 1970’s. The incidence of poverty and income inequality is higher in rural areas compared to urban areas. This paper is mainly to study the level of poverty and income inequality in Malaysia together with government intervention to develop Malaysia’s economic growth. The research is focused among the working people at Ipoh, Perak. In this paper, questionnaire forms are being distributed to get information regarding the issue of poverty and income inequality. It also looks into the strategies taken by the government of Malaysia to eradicate poverty and income inequality. Few recommendations are given in terms of education policy, financial aid and assistance from government and non-government organization (NGO) to upgrade the standard and quality of living among the poor and lower-income group of people.
-
Impact of inflation on economic growth: evidence from Nigeria
Anthony Olugbenga Adaramola ,
Oluwabunmi Dada
doi: http://dx.doi.org/10.21511/imfi.17(2).2020.01
Investment Management and Financial Innovations Volume 17, 2020 Issue #2 pp. 1-13 Views: 8999 Downloads: 5249 TO CITE АНОТАЦІЯIn an attempt to examine the influence of inflation on the growth prospects of the Nigerian economy, the study employs the autoregressive distributed lag on the selected variables, i.e. real gross domestic product (GDP), inflation rate, interest rate, exchange rate, degree of economy`s openness, money supply, and government consumption expenditures for the period 1980–2018. The study findings indicate that inflation and real exchange rate exert a significant negative impact on economic growth, while interest rate and money supply indicate a positive and significant impact on economic growth. Other variables in the model depict no influence on the economic growth of Nigeria. The causality result shows the unidirectional relationships between interest rate, exchange rate, government consumption expenditures and gross domestic product. However, inflation and the degree of openness show no causal relationship with gross domestic product. As a result, the study recommends that a more pragmatic effort is needed by the monetary authorities to target the inflation vigorously to prevent its adverse effect by ensuring a tolerable rate that would stimulate the economic growth of Nigeria.
-
Formalization of the impact of imbalances in the movement of financial resources on economic growth of countries in Central and Eastern Europe
Serhiy Kozmenko ,
Maxim Korneyev
doi: http://dx.doi.org/10.21511/afc.01(1).2017.06
Accounting and Financial Control Volume 1, 2017 Issue #1 pp. 48-58 Views: 7840 Downloads: 1371 TO CITEThe article deals with the impact of financialization on economic growth in countries of Central and Eastern Europe. It determinesthe impact of imbalances in the movement of financial resources caused by financialization on economic growth of these countries. It proves that the implementation of measures aimed at increasing the openness of the economy and maintaining solvent demand have a positive impact on economic growth of the surveyed countries in the long run. It also proves the importance of developing a set of measures of strategic nature regulating imbalances in the movement of financial resources caused by financialization.
