Marius Constantin

Assistant Professor at the Bucharest University of Economic Studies

Elasticity Dynamics and Trade Balance Performance as Metrics for Food Security – An Assessment of Romania's Swine Meat Market


Journal article


Silviu Ionuţ Beia, Marius Constantin, Elena-Mădălina Deaconu, Violeta Elena Beia, Florea Cosmin Nicolaie, Dragos Smedescu, Cosmina Smedescu
Scientific Papers Series Management, Economic Engineering in Agriculture and Rural Development, vol. 24(1), 2024, pp. 107-114

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APA   Click to copy
Beia, S. I., Constantin, M., Deaconu, E.-M., Beia, V. E., Nicolaie, F. C., Smedescu, D., & Smedescu, C. (2024). Elasticity Dynamics and Trade Balance Performance as Metrics for Food Security – An Assessment of Romania's Swine Meat Market. Scientific Papers Series Management, Economic Engineering in Agriculture and Rural Development, 24(1), 107–114.


Chicago/Turabian   Click to copy
Beia, Silviu Ionuţ, Marius Constantin, Elena-Mădălina Deaconu, Violeta Elena Beia, Florea Cosmin Nicolaie, Dragos Smedescu, and Cosmina Smedescu. “Elasticity Dynamics and Trade Balance Performance as Metrics for Food Security – An Assessment of Romania's Swine Meat Market.” Scientific Papers Series Management, Economic Engineering in Agriculture and Rural Development 24, no. 1 (2024): 107–114.


MLA   Click to copy
Beia, Silviu Ionuţ, et al. “Elasticity Dynamics and Trade Balance Performance as Metrics for Food Security – An Assessment of Romania's Swine Meat Market.” Scientific Papers Series Management, Economic Engineering in Agriculture and Rural Development, vol. 24, no. 1, 2024, pp. 107–14.


BibTeX   Click to copy

@article{silviu2024a,
  title = {Elasticity Dynamics and Trade Balance Performance as Metrics for Food Security – An Assessment of Romania's Swine Meat Market},
  year = {2024},
  issue = {1},
  journal = {Scientific Papers Series Management, Economic Engineering in Agriculture and Rural Development},
  pages = {107-114},
  volume = {24},
  author = {Beia, Silviu Ionuţ and Constantin, Marius and Deaconu, Elena-Mădălina and Beia, Violeta Elena and Nicolaie, Florea Cosmin and Smedescu, Dragos and Smedescu, Cosmina}
}

Abstract


In addressing the critical interplay between market dynamics and food security within Romania's swine meat market, amidst evolving economic and social challenges, the research aimed to elucidate the roles of elasticity dynamics and trade balance performance in ensuring a high food security level. Utilizing data from 2011 to 2022, the analysis employed key elasticity metrics—price elasticity of demand (PED), income elasticity of demand (IED), factor elasticity of demand (FED), and income elasticity of the swine meat trade balance's deficit (IET)—to dissect the complex interactions configuring demand, supply, and international trade dependencies. The methodology was grounded on quantitative analyses, contrasting year-over-year and base-year elasticities to capture both immediate and longitudinal market responses to socio-economic stimuli. This detailed approach uncovered pertinent findings: despite general price inelasticity in swine meat demand, significant fluctuations in response to income changes and production factors were observed, with 2015 marking a year of heightened sensitivity due to external factors like the African swine fever outbreak. This study underscores the imperative of leveraging elasticity analyses to inform the development of agricultural policies aimed at enhancing domestic production, managing trade deficits, and ultimately reinforcing Romania's food security socio-economic infrastructure against the backdrop of global market volatilities and domestic supply constraints.



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