Specialized Market Institutions in the Function of Agriculture Development

Kuzman, Boris and Prdić, Nedeljko (2020) Specialized Market Institutions in the Function of Agriculture Development. In: Sustainable agriculture and rural development in terms of the Republic of Serbia strategic goals realization within the Danube region – Science and practice in the service of agriculture. Institute of Agricultural Economics, Belgrade, pp. 131-146. ISBN 978-86-6269-081-4

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Abstract

Specialised market institutions in historical and modern context represent basic driving force of agriculture development. In ancient times, when markets first emerged, fairs and bazaars were basic trade mechanisms of that era. Development of production forces, traffic and social relations, especially after industrial revolution, the trade on auctions and stock markets makes significant growth. At the end of 21th and in this century, wholesale markets are dominant form of market organisation and wholesale of agriculture products. The aim of this paper is to demonstrate the importance of these market institutions in word’s trade and based on that it is Agriculture complex has substantial share in trade and exchange in Serbian economy, so we wish to point out the basic principles of development through specialised market institutions. The main objective of this paper is based on analysis of historical and modern significance of specialised market institutions, which development will lead to trade increase in agriculture. Conclusion is that optimal combination of trade by these institutions within the planned strategy of agriculture development in Serbia, using innovations in agriculture may achieve competitive advantage and profit increase on regional and world markets.

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