Production Functions for Assessing the Volumes of Agricultural Production in the Regions of Russia

The study was based on the development of production functions that characterize the activities of agricultural enterprises in the regions of Russia. Official statistical information on 65 regions of Russia for 2017 and 2018 was used. The conducted research made it possible to identify factors (inve...

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Bibliographic Details
Published in:Montenegrin journal of economics 2022-10, Vol.18 (4), p.39-48
Main Authors: Pinkovetskaia, Iuliia S., Arbelaez Campillo, Diego Felipe, Rojas Bahamon, Magda Julissa
Format: Article
Language:English
Subjects:
Agricultural production
Agriculture
Capital expenditures
Efficiency
Employees
Farms
Fixed assets
Labor costs
Mathematical models
Production functions
Regions
Spatial data
Time series
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Summary:The study was based on the development of production functions that characterize the activities of agricultural enterprises in the regions of Russia. Official statistical information on 65 regions of Russia for 2017 and 2018 was used. The conducted research made it possible to identify factors (investments in fixed assets and wages of employees) that affect the volume of production in the agricultural sector in the regions of Russia and suggest using two-factor production functions of high quality to describe this influence. It is proved that the economy of the country's regions has not reached saturation with agricultural products and there are significant reserves for further development of this sector. The developed production functions are effective management tools that allow assessing the level of use of financial and labor resources. The acquired new knowledge and tools for assessing the activities of agriculture in the Russian regions are of scientific and practical importance. They can be used in research of the agricultural sector of the economy, monitoring of production volumes, in determining the needs for resources necessary for the development of agriculture, substantiating plans and programs for its development.
ISSN:1800-5845
1800-6698
DOI:10.14254/1800-5845/2022.18-4.4