The impact of monetary policy of a state on food security system
Journal Title: Регіональна Економіка - Year 2017, Vol 84, Issue 2
Abstract
A necessary condition for effective functioning of food security is the stability of national currency. The value of the currency has an impact on food prices. The value-reasonable prices is a key prerequisite for economic public access to life-saving food. Many prominent scientists have dedicated their works to the research of the problem. A. Babenko and L. Abramovskiy focus on the need of increase of the money supply. The authors point out that increase in the money supply will intensify the activity of small and medium business, which produces the agricultural products. L. Chernychuk underlines the importance of the impact of currency value on the price level. The author notes that the value of the currency is constantly changing and this affects the general price level in the economy. Existing studies substantiate the presence of an effective mechanism for regulation of the impact of current monetary policy system on food security system. However, the development of economic relations and integration processes of the country in the context of globalization necessitate improvement of the existing mechanism for regulation of the impact of current monetary policy system on food security system. <br>The article is devoted to assessment of the impact of current monetary policy system on food security system in Ukraine. We analysed the effect of monetary policy on food security system. We have established the impact of monetary policy on public access to food. Monetary policy affects the level of consumer prices by controlling inflation. As a result of correlation and regression analysis we established the existence of a direct relationship between the size of average rates of the money supply and the volume of agricultural production.
Authors and Affiliations
Gelena O. Pruntseva
Keywords
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