Economics & Sociology

ISSN: 2071-789X eISSN: 2306-3459 DOI: 10.14254/2071-789X
Index PUBMS: f5512f57-a601-11e7-8f0e-080027f4daa0
Article information
Title: How Resistant is the Agricultural Sector? Economic Resilience Exploited
Issue: Vol. 11, No 3, 2018
Published date: 09-2018 (print) / 09-2018 (online)
Journal: Economics & Sociology
ISSN: 2071-789X, eISSN: 2306-3459
Authors: Mangirdas Morkūnas
Lithuanian Institute of Agrarian Economics

Artiom Volkov
Lithuanian Institute of Agrarian Economics

Pasquale Pazienza
University of Foggia
Keywords: economic resilience, agricultural sector, SAW, Lithuania
DOI: 10.14254/2071-789X.2018/11-3/19
Index PUBMS: f3df2a20-cec2-11e8-92b1-901b0efa6e97
Language: English
Pages: 321-332 (12)
JEL classification: Q11, Q18, O13
Website: http://www.economics-sociology.eu/?614,en_how-resistant-is-the-agricultural-sector-economic-resilience-exploited
Licenses:
Abstract

The concept of resilience has wide acceptance in different scientific doctrines and fields, from ecology to disaster management. Nowadays this phenomenon is being more and more intensively exploited in economic sciences in an attempt to measure the ability of economic systems to quickly regenerate from different external shocks or even to avoid them as such. This research paper examines economic resilience of the agricultural sector (including industries) with the example of Lithuanian empirical data. In order to measure the economic resilience of the agricultural sector, the appropriate index was created including a new derivative indicator – volatility of revenues from the desired growth path. Expert interviews, statistical analysis and econometrical modelling were employed in our research. The results show the increasing value of economic resilience of the Lithuanian agricultural sector up to the year 2015, which can be attributed to the accession into the EU, after this year inclination towards more profitable, but considerably more risky export markets lowers the calculated parameter of economic resilience of the Lithuanian agricultural sector. Such a tendency questions the sustainability of economic resilience of the Lithuanian agricultural sector.

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