Inventory investment and sectoral characteristics in some OECD countries

This paper discusses the effects of sectoral structure on the long run macroeconomic inventory behaviour of national economies. Data on 15 OECD countries are included in the analysis, which is based on correlation and cluster analysis methodologies. The study is part of a long-term research project exploring factors influencing the inventory behaviour of national economies. First, we introduce some basic characteristics of macroeconomic inventory formation in the 15 OECD countries. We argue that our previous results on the existence of specific characteristic features of macroeconomic inventory investment are justified, hence it makes sense to study the factors influencing these features. We then examine the contribution of various sectors to the production of in the countries involved and the relationship between sectoral structure and inventory intensity (annual inventory change/Gross Value Added). We find that the high share of agriculture and manufacturing increases inventory intensity, that the increasing share of services has a negative effect and that the role of construction and trade is not obvious. The relatively low stability of the statistical results warns us to be cautious with our judgements. Further, case-by-case analysis would be required to obtain more solid results.

Kockázatok a mezőgazdaságban (Risks in agriculture)

A szerző cikkében a mezőgazdaságban megjelenő kockázatokkal foglalkozik. Vizsgálja, hogy mely tényezők okoznak kockázatot e területen, illetve érinti a kockázat legsúlyosabb következményét, az éhínséget, csökkentésének módjait, valamint a mezőgazdasági biztosítás kérdését. ________ The paper analyzes the different types of risks appearing in agriculture. The paper aims to analyze both the factors that cause the risks and the most serious consequence of these risks, namely famine. The essay also tries to evaluate to possible ways risk can be decreased, especially with the focus on agricultural insurance.