Assessment of capital and labor factors in agricultural output in the Russian Federation

Evaluation of the efficiency of human capital and material resources application acts as a key task of analysis among all production industries. The purpose of the research was to build a range of linear and non-linear econometric models of output volume by type of economic activity "Agriculture, Hunting, Forestry and Fishing" based on official state statistics data for 2005-2022. Based on the production factors "capital" and "labor" linear models and Cobb-Douglas production function are constructed. The approximation of the models is confirmed by statistical quality control. The considered indicators of production assets tended to grow for 18 years, while the values of the number of workers decreased, with a steady increase in output. The analysis of the elasticity ratio in the Cobb-Douglas function with a neutral coefficient of technical progress revealed that in the agricultural sector there are increasing returns to scale, in which the growth of output exceeds the rise in the expenses on capital and labor.