AGRICO-INDUSTRIAL SECTOR DEVELOPMENT MODELING UNDER UNCERTAINTY AND RISC

Abstract

Macroeconomic modelling of the agro-industrial sector proposed in [1] is done. For this purposes production function dependent of three production factors: capital, land and labour was estimate. Fourteen more perspective branches were selected for examination, Gross Domestic Product values and volume values for examined sector and branches, supposed to stochastic shocks, were calculated.

Keywords

• mathematical modelling
• agro-industrial sector
• production function in agriculture
• random shocks.