Volume 4, Issue 6, November 2019, Page: 298-300
The Macroeconomic Contribution of Agricultural Economics to National Growth and Development
Odeigah Dennis Chukwueloke, National Biotechnology Development Agency, Umaru Musa Yar’Adua Express Way, Abuja, Nigeria
Received: Feb. 23, 2019;       Accepted: Apr. 8, 2019;       Published: Dec. 26, 2019
DOI: 10.11648/j.ijae.20190406.17      View  34      Downloads  32
Abstract
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.
Keywords
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. doi: 10.11648/j.ijae.20190406.17
Copyright
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.
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