Economic Risk Assessment in Agriculture
Journal Title: Ekonomika ir Vadyba: Aktualijos ir Perspektyvos - Year 2013, Vol 32, Issue 4
Abstract
Risk evaluation and minimization should be very important to every business, especially those that works in agriculture field. Agriculture activity depends on production circles, biological asset and weather conditions. And because of that it is very important to identify and evaluate risks in agriculture. Economic risk runs in macro level and all types of business are affected by it. Economic risk is related to trade transactions and participants opportunities to meet its obligations under certain economic conditions in the country. This risk reflects the country's economic risk indicators. This article purpose is to develop and empirically verify economic risk index that could be used for assessing the economic risks in agriculture. To reach purpose following methods were used: studying economic risk and it’s factors - literature review, synthesis, induction and deduction, comparison techniques, graphical methods; creating economic risk index - synthesis, generalization, comparative analysis, factor and reliability analysis; analyzing statistical data - comparison and visualization techniques methods. Research result – economic risk index, which was constructed using macroeconomics EU data from EUROSTAT database. Created Economic risk index indicates most significant economic risk factors and shows there relation with risk. Key words: agriculture, economic risk, factor analysis
Authors and Affiliations
Laura Girdžiūtė , Astrida Slavickienė , Sigitas Vaitkevičius
Keywords
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