engleski

ANALYSIS OF THE INTERNATIONAL AGRICULTURAL TRADE AS A FACTOR OF THE WORLD ECONOMY GROWTH

The liberalisation process of the international trade, followed by numerous negotiation rounds within the GATT and WTO, represents a part of global plan on liberalisation of the world's trading system. The aim of such a plan implies the elimination of all the obstacles that are limiting the free market competition and the free flow of goods on the global market, thus constraining the global economic growth. Agricultural trade counts as one of many factors that can affect the growth of an economy, but is often suppressed within the conditions of fast growing tehnological progress, especially at the global level. In this regard, the paper aims to give a founded answer to the following economy growth and to what extent? Bringing these two values into a functional relation, based on continuing time series of data and using the LSM-method with exclusively statistical and econometric criteria, it has been proceeded with testing the model. Result of the analysis have shown that the international agricultural trade does not represent a relevant factor of the global economic growth but in some extent, however, exerts its impact.

agriculture ; trade ; global growth ; world economy

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