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Employment in Agribusiness and Purchases of Agricultural Products: The Effects of Monetization in Yugoslavia

Published online by Cambridge University Press:  28 April 2015

Dragan Miljkovic  and
Roberto J. Garcia
Dragan Miljkovic
Affiliation:
Department of Agricultural and Consumer Economics, University of Illinois, Urbana-Champaign
Roberto J. Garcia
Affiliation:
Department of Agricultural and Consumer Economics, University of Illinois, Urbana-Champaign
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Abstract

Efforts to stabilize employment and output in the agricultural sector of Yugoslavia through monetization contributed to inflationary pressures. Granger causality tests suggest that increases in the rate of growth in the supply of money to subsidize state-owned agribusinesses were insufficient to maintain purchases of wheat and corn, but did cause purchases of cattle and swine. This result may be explained by producers having more flexibility in grain marketing (i.e., storage options and private buyers) and the perishability issues related to livestock marketing. The policy to maintain employment through monetization is shown to have been ineffective.

Keywords

agribusinessemploymentGranger causalityinflationmoney supplystate purchasesYugoslavia
Type
Articles
Information
Journal of Agricultural and Applied Economics , Volume 28 , Issue 2 , December 1996 , pp. 357 - 368
Copyright
Copyright © Southern Agricultural Economics Association 1996

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