Advances in Management and Applied Economics

The Chaotic Agricultural Production Growth Model: EU

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  • Abstract

    Economic welfare depends on the amount and stability of agricultural production. The stability of agricultural production assumes a major strategic and geopolitical character. The basic aim of this analysis is to set up a relatively simple chaotic agricultural production growth model that is capable of generating stable equilibria, cycles, or chaos. It is important to analyse the stability of the agricultural production growth in the EU in the period 1996-2012. This paper finds out the existence of the convergent fluctuations of agricultural production in the EU in the period 1996-2012.