Management Theory and Studies for Rural Business and Infrastructure Development, Volume 29

The impact of the global economic crisis on selected eu countries in agricultural sector, 2008–2009

Irena Kriščiukaitienė, Virginia Namiotko, Andrej Jedik

Abstract

The purpose of this article is to estimate the impact of the global economic crisis on Lithuanian agricultural sector and to compare to EU countries with similar economic, natural and geopolitical conditions. Main economic and social indicators (value added, wages and salaries, employment rate, export and import) were selected in order to estimate the consequences of the economic crisis on selected EU countries both in total economy and agricultural sector. The paper presents the complex method of analysis, which compares EU countries by selected indicators and gives ratings to it before and during the crisis. The main reasons for these ratings were investigated. The proposals to minimize the consequences of the economic crisis in the future were made.

JEL codes: C440, Q020, G010

Keyword(s): agricultural sector, economic crisis, employment rate, export, import, value added, wages and salaries.


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Management Theory and Studies for Rural Business and Infrastructure Development eISSN 2345-0355

This journal is published under the terms of the Creative Commons Attribution-Noncommercial 3.0 Unported License. Responsible editor: Dr Audrius Gargasas.