Agricultural Production Peculiarities of the EU and MERCOSUR – Production Functions Issues
Oksana KIFORENKO
https://doi.org/10.18267/pr.2026.vol.2587.14
Abstract: The agricultural production peculiarities appeared an important matter for research. Such methods and tools as statistical, univariate, multivariate, and empirical analyses, textual and tabular methods of data presentation, such techniques of data visualization as bar and line charts, scatter plot matrices with density and Loess curves, were used in the research. To ensure the highest robustness of the analysis results, linear models, Cobb – Douglas production function, Generalized Additive Models, either plain or with splines, tensor splines and tensor interactions were used in the research. As for the EU, a bit negative relationship is present between employment in agriculture and agricultural output and a positive but a little curvature one between net capital in agriculture, forestry and fishing and agricultural output. In MERCOSUR, negative relationship can be observed between the employment in agriculture and agricultural output and a positive one between the net capital in agriculture, forestry and fishing and agricultural output. The research results will give those involved additional information for more effective decision making.
Keywords: agricultural production, the EU, MERCOSUR, production functions, GAMs
JEL Classification codes: Q10, F53, D24
Fulltext: PDF
Published by: Prague University of Economics and Business, Oeconomica Publishing House
Year of publication: 2026
Online publication date: 20 May 2026
Copyright: Authors of the papers
ISBN 978-80-245-2587-7
ISSN 2453-6113
Pages 162-175