Międzynarodowe rynki kapitałowe i kursy walutowe a handel światowy produktami rolnymi

Abstract

In the course of the last four decades, a number of changes have taken place in American farming. They have been closely bound with the process of integrating U.S. farming with world economy. The role of this farming in world food trade has been strengthened particularly in the last decade. As a consequence, this sector of the American economy has become dependent on world trade. The interdependencies appearing in world trade make different factors influence the situation in American farming, factors which only a quarter of a century age would have been omitted in any analysis. Among them, one should mention currency courses, the different percent rates of different countries, short- and long- -term international capital transfers and also the policy of stabilization followed by U.S. trade partners. Apart from the influence of macro-economic trade policies, American farming directly experiences the results of the different farming policies realized by those partners. The author of the article precedes his analysis of the factors above mentioned with a discussion of the vital, realistic factors which influenced the rapid growth in the standing of American farming on world markets. These include: the modification of American policy regarding the costs of farming products, income and currency courses, great changes — after World War II — in the structure of the resources used by U.S. farming and of productive factors, and finally, the transformation of American farming into a sector of a high technological standard.