The Macroeconomic Contribution of Agricultural Economics to National Growth and Development
International Journal of Agricultural Economics
Volume 4, Issue 6, November 2019, Pages: 298-300
Received: Feb. 23, 2019;
Accepted: Apr. 8, 2019;
Published: Dec. 26, 2019
Views 519 Downloads 183
Odeigah Dennis Chukwueloke, National Biotechnology Development Agency, Umaru Musa Yar’Adua Express Way, Abuja, Nigeria
Follow on us
This study was undertaken to investigate the macroeconomics of agricultural economics using secondary data collected from different sources to appraise results in the course of the research. The analysis was to determine the macroeconomic contribution of agricultural economics to national growth and development. The survey revealed that agricultural economics helps to enhance investment, employment, trade, foreign exchange earnings, government revenue, food security, technological innovation, economic growth and development. In addition, in all contributions to the gross domestic product (GDP), agriculture is most vital, because no work or thought can be exercised without the release of energy which comes from food. The following recommendations are proffered to increase the influence of agricultural economics on the macroeconomics of a national economy: the monetary policy rate (MPR) or discount rate (DR) should be reduced to 0-2% to enhance agricultural production, tax revenues, exports, employment, food security, technological innovation, and the GDP.
Macroeconomics, Agricultural Economics, Investment, Food Security, Economic Growth and Development
To cite this article
Odeigah Dennis Chukwueloke,
The Macroeconomic Contribution of Agricultural Economics to National Growth and Development, International Journal of Agricultural Economics.
Vol. 4, No. 6,
2019, pp. 298-300.
Copyright © 2019 Authors retain the copyright of this article.
This article is an open access article distributed under the Creative Commons Attribution License (http://creativecommons.org/licenses/by/4.0/
) which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
Barkley, A. and P. W. Barkley (2013). Principles of Agricultural Economics. Routledge.
Cramer, G. L. and C. W. Jensen (1994). Agricultural Economics and Agribusiness Study Guide, Sixth edition. Wiley.
Debertin, D. L. (2012). Agricultural Production Economics (the Art of Production Theory). Createspace Independent Pub.
Samuelson, P. A. and W. D. Nordhaus (1998). Economics, Sixteenth edition. The McGraw-Hill Companies, Inc.
The Economist (2013). vol. 408, no. 8852.
The Economist (2014). vol. 413, no. 8916.
The Economist (2016). vol. 420, no. 8999.
Federal Ministry of Finance (2000). Quarterly Performance Report on the Economy: April – June. Abuja, Nigeria.
Federal Ministry of Finance (2000). Quarterly Performance Report on the Economy: July – September. Abuja, Nigeria.