THE SIGNIFICANCE OF AGRI-FOOD SECTOR’S EXPORTS FOR ECONOMIC DEVELOPMENT: THE CASE OF INNOVATIVE COUNTRIES AND THE REPUBLIC OF SERBIA

Miloš Dimitrijević, Lela Ristić, Danijela Despotović

DOI Number
https://doi.org/10.22190/TEME230305051D
First page
905
Last page
919

Abstract


Export promotion is used as an effective development strategy for many countries, while innovations and technologies have a major impact on the overall value and structure of exports. Exports, especially of agricultural products, have a special and greater importance for the economic development of developing countries, compared to developed countries. The subject of research in this paper is the export of the agri-food sector of the Republic of Serbia in relation to economically developed and innovative countries, and the aim of this research is to indicate the impact of the export of this sector on economic development. The OLS panel regression showed a positive impact of both the agri-food and the whole agribusiness sector on economic and sustainable development, thus confirming the research hypotheses. The Republic of Serbia and developing countries should follow the development strategies of innovative and economically developed countries. This means changing the structure and diversifying exports in order to increase the added value of products and their competitiveness on the international market. The way to achieve this is to introduce innovations in the production process and to increase productivity, which will increase the degree of processing of primary agricultural products, and create a precondition for structural transformation from primary to other sectors and economic development of countries.


Keywords

export of agri-food products, Republic of Serbia vs. innovative countries, economic and sustainable development.

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References


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DOI: https://doi.org/10.22190/TEME230305051D

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