Self-Sufficiency in Private Sector Dynamics: A Holistic Analysis of the Optimization of the Agricultural Sector in the Philippines

Abstract

This research examines the impact of initiatives from the private sector to reach self-sufficiency in the Agricultural Sector. The researchers utilized the following independent variables: Land Ownership of Farmers, Agricultural Credit, Agricultural Exports, Raw Material Imports, and Foreign Direct Investments concerning Agricultural Output — the dependent variable. Using a Time Series Approach, data from 2005 to 2021 was utilized and tested through the Ordinary Least Squares (OLS) regression analysis. Findings have revealed that while technology and importing raw materials could drive growth, agricultural credit and land ownership heavily depend on government policies and reforms. That said, government intervention could not be isolated from the Agricultural Sector as collaborating between the private and public sectors would optimize the agricultural sector.