Econometric modeling of production resources usage in dairy cattle breeding

Abstract

To solve the problem of maximizing the efficiency of multifactorial production of dairy products, a production function of the Cobb-Douglas type is proposed, in the identification of which indicators characterizing the use of land, labor and capital are selected as cost categories. Based on the study of the performance of 126 agricultural organizations of the Krasnodar Territory (Russia) for 2016-2018. panel data were formed in order to build panel regression models, which made it possible to take into account the effect of time, explaining the dynamics of the states of a set of economic entities The regression model with deterministic individual effects in the form of a production function of the Cobb-Douglas type, which characterizes the influence of labor, land and financial resources on the cost of products of the studied sub-industry, was recognized as statistically significant. Based on the results of the calculations, the main determinants of the development of dairy cattle breeding were identified and the reasons that hinder it were identified.