AGRICULTURE AND ECONOMIC GROWTH: THE EU 27 RECORD FROM 2002 TO 2021

Abstract

The aim of this paper is to analyze the contribution of the agricultural sector to the European Union member states’ economic growth in the period from 2002 to 2021. This paper makes an attempt to answer the question of whether the agricultural sector contributes to the economic growth of the European Union countries, in terms of incentives that their governments give to the agricultural sector. For this purpose, a multiple regression model is developed with one dependent and several independent variables, and the obtained research results show a positive influence of the agricultural sector, expressed through agricultural production, on economic growth rate of EU 27 countries in the analyzed period.

Keywords

• agriculture
• innovations
• economic growth
• state incentives