Food vulnerability and agricultural specialisation of countries: global financial threats as challenges for Ukraine
The article examines food security in the context of debt dependence and financialisation processes. The authors of the article aimed to identify the associated factors of food vulnerability across countries worldwide and in Ukraine by analysing the relationships between the share of the agricultural sector in GDP, indicators of food accessibility, and debt burden, as well as by assessing the role of financial constraints in shaping threats to food security. The methodological framework of the article is based on comparative analysis, grouping of countries by indicator of agricultural value added, taking into account debt burden and food accessibility, as well as evaluation of the ratio between debt servicing expenditures and public support for agriculture. The paper demonstrates that a high proportion of agriculture in GDP is not an indicator of national food security, nor does it correlate with better food accessibility outcomes. It is emphasised that the key determinant of an adequate level of food security is economic access, primarily driven by household income levels. The study shows that debt dependence constrains fiscal capacity and leads to the prioritisation of debt servicing over financing the agricultural sector. Using Ukraine as a case study, it was found that, despite the high production potential of the agricultural sector, a significant proportion of household expenditures is allocated to food, indicating limited economic access. The paper highlights the specific features of financialisation in Ukraine’s agricultural sector, showing that the ratio of public debt servicing expenditures to agricultural support reflects a trajectory of deteriorating fiscal conditions for agricultural development. The practical significance of the results lies in their applicability for substantiating policy recommendations aimed at improving state policy in agricultural and rural development.
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