AGRI-FOOD EXPORTS VS. STATE BUDGET AND PUBLIC DEBT
Journal Title: Zagadnienia Ekonomiki Rolnej - Year 2014, Vol 341, Issue 4
Abstract
Polish agri-food trade already in 2003 generated a positive balance. After accession to the EU it has rocketed and in 2013 twelve-fold surpassed its level recorded in 2003. Naturally, this success arouses great interest. It also has a number of macroeconomic implications.The article focuses on the problem of poorly recognized, i.e. on interdependencies between this trade and the state budget and public debt. On the purely theoretical basis, it was found that growing exports and net exports may reduce both the budget deficit and the public debt, as well as indicators based on them. In Polish conditions, this positive effect cannot, however, be large, because the balance of agri-food trade (net exports) recently is only 1-1.5% of GDP. Even lower (approx. 0.5%) was the share of taxes paid by exporters of the food industry in GDP.While the econometric analysis showed that the impact of exports of agri-food products and total exports of goods in GDP is positive and leads to a decline in public debt. It turned out that one-percent increase in agri-food exports lowers the above debt by 0.06%, while the same increase in total exports of goods – reduces debt by 0.14%.
Authors and Affiliations
Mariusz Hamulczuk, Jacek Kulawik, Robert Mroczek, Wiesław Łopaciuk, Iwona Szczepaniak, Barbara Wieliczko
Keywords
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