UP - logo
Univerza na Primorskem Univerzitetna knjižnica - vsi oddelki (UPUK)
  • Determinants of agro-food price developments in Slovenia [Elektronski vir]
    Bojnec, Štefan ; Gričar, Sergej
    Quality and price are the critical determinants for consumers in making purchasing decisions. A firm that can provide an appropriate array of goods and services at a lower price than its competitors ... will have a competitive advantage that should result in an increase in business and enhance financial returns. This article focuses on the consumer food price developments during the Slovenian adjustments towards the European Union membership, and the Euro adoption by the followed increased in consumer prices, and the current economic and financial crises. The empirical analysis on the determinants of the consumer food prices is based on the monthly statistical data, which were obtained from the Statistical Office of the Republic of Slovenia. Agricultural producers' prices during the period examined have increased substantially less than the consumer agro-food prices. During the analyzed period, there has been substantial increase in the energy prices as well as inagricultural wages. By using the principal component analyses, the two common components are identified: 1) general level of prices and wages in agriculture, and 2) the input material prices, funds for agriculture, weather conditions, and output prices of crops in agriculture, but the mitigating role of the Euro adoption. The first common component explains 48.4% of the total variance of the analyzed variables. The second common component additionally explains 13.7% of the total variance. By using the multiple regression analysis we found that the consumer food prices are positively and significantly associated with the agricultural wages, with the agricultural producer` prices, with the prices of municipal services, energy prices, and the prices of inputs for agriculture. We also found that the Euro adoption hadonly the short-term impact on the consumer food prices, but not on the medium-term. By using the linear trend analysis on the time-series data we confirm that during the time of the high food prices from April 2007 to May 2008, the consumer food prices were overshooting above the its average level. The highest growth in the consumer food prices was in September 2007. The consumer food price increases was statistically significant between February 2008 and May 2008. During this period the average value of the consumer food price index was 100.45. The economic recession in Slovenia since October 2008 has caused the stabilization and later decline in the consumer food prices. This decline has been significant between February and May 2009. During this period the average value of the consumer food price index was 99.75. This result and the later developments imply that the economic recession has caused the significant decline in the consumer food prices since October 2008. The lowest level in the consumer food price index is recorded by June 2009. During the economic reason the level of productivity (output) and the demand for most goods and services, including the food industry, have declined.
    Vir: Global economy [Elektronski vir] : challenges and perspectives ; proceeding of reviewed articles of international scientific conference (Str. 813-825)
    Vrsta gradiva - prispevek na konferenci
    Leto - 2010
    Jezik - angleški
    COBISS.SI-ID - 3576023

Vnos na polico