Agricultural production index: International comparison

Abstract

This paper investigates the influences of macroeconomic policies on agricultural production and other factors affecting it, based on panel data in a global sample for the period 2010–2017. Because spatial interactions in the agricultural production levels of countries are determined, spatial panel models are employed in the analyses. According to the analysis results, countries' financial, fiscal and monetary policies have an important effect on agricultural production. Besides, other important determinants of agricultural production are climatic conditions, land use and modern input use in agriculture. Our findings have important implications, especially for countries with low agricultural production.