Tarasevych Nataliia, PhD (Economics), Associate Professor of Banking Department, National Economic University, Odessa, Ukraine

ORCID ID: 0000-0002-2110-7320
e-mail: nvt4364@gmail.com

Conceptual Approaches to Defining the Economic Essence of Agribusiness in the International Aspect

Abstract. Introduction. The article considers conceptual approaches to defining the economic essence of agribusiness in the international aspect. The evolution and essence of agribusiness theory is of great value for understanding the logic and prospects of agribusiness development in Ukraine, which is at the stage of institutional and organizational development, determined by economic relations of market levers.

Purpose. The purpose of the article is to study the theoretical aspects of agribusiness, the specific properties of its functioning in a market economy, to determine the main directions of its further development.

Results. The traditional approach to the interpretation of the economic essence of agribusiness is studied on the basis of analysis of publications of foreign and domestic scientists. The general conceptual principles of modern agribusiness and its role in the agri-food system of the country are considered. Two parallel levels of development of agribusiness theory: agribusiness economics and agribusiness management are outlined. The macroeconomic nature of agribusiness research is characterized. The role of agricultural policy within the agri-food structure is defined, where the responsibility for agricultural development should be shifted as much as possible from the government to the private sector. The interpretation of the concept of “agribusiness” is deepened, taking into account the possibility of minimizing losses and gaining from this activity in the form of profit.
The necessity of rethinking the concept of agribusiness in the modern conditions of economic system development is substantiated, the essence of which can be considered in the context of functional, structural and subjective approaches. The relevance of the definition of “agribusiness” and “international agribusiness” is proved.
The main features of modern agribusiness are formed. Based on the analysis, suggestions for further development of the concept of modern agribusiness are provided.

Conclusions. Global market reforms and the development of the agri-food system have significantly expanded the concept of agribusiness from understanding it as a set of a number of branches of the agro-industrial complex to an economic substance that is engaged not only in the production of agricultural products and bringing them to the end consumer, but also aimed at obtaining the maximum economic effect through the use of market mechanisms.

Keywords: аgribusiness; the concept of agribusiness;, agricultural sector; agri-food syste; agro-industrial complex; agriculture; international agribusiness.

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