THE WINEMAKING SECTOR IN THE REPUBLIC OF MOLDOVA-ANALYSIS AND PERSPECTIVES.

This paper analyses the winemaking sector in the Republic of Moldova using econometric models. The use of econometric models in agriculture involves the application of statistical methods and economic theory to analyze and model relationships in the agricultural sector. These models help researchers, policy makers and practitioners to understand the factors that influence agricultural outcomes and make informed decisions. The article presents the results of regression estimations in which the endogenous factor is the volume of overall production in agriculture, but also the volume of production in the wine sector. On the basis of official statistical data of the Republic of Moldova, the Cobb-Douglas production function was estimated, whereas exogenous factors are labor and capital used in agriculture, but also technical and scientific progress observed in agriculture. The function is used for both short-term and long-term forecasts. [ABSTRACT FROM AUTHOR]