Financial incentives applied to the agriculture sector within the scope of global warming and climate change: BRICS-T countries

Climate change and global warming are concepts used to express global changes in the Earth's normal temperature. Climate change, one of the most fundamental problems we encounter in daily life, increases its impact day by day. In fact, climate change directly or indirectly affects agriculture, water resources and human health. As a result of climate change, soil and water systems change, agricultural production decreases and food security is at risk. The effects following the global climate crisis cause significant product losses in some sectors. Especially the agricultural sector is affected by this global crisis. This situation causes states to take action in the agricultural field and provide financial support for a sustainable agricultural policy. The basis of the study is BRICS-T countries, which represent six emerging economies that play an important role in the world economy. In this context, the study includes evaluations of the agricultural supports of BRICS-T countries in the fight against global warming and the analysis results obtained from agricultural GDP data. Arellona Bond Dynamic Panel Data Analysis method was used to analyze the data. With this method, a model covering agricultural GDP, total agricultural supports, producer supports and general service supports was used and the effects of the supports on agricultural GDP were analyzed. Analysis results show that dynamic panel data analysis reveals the effects of agricultural supports and producer supports on TGDP and the dynamics of these effects over time. The negative effects of TAS and the positive effects of PES are particularly striking findings. However, the fact that GSSE and the constant term do not provide statistically significant results shows that the model is inadequate to capture the effect of these variables. These results can provide important clues for policymakers about which levers are effective in increasing TGDP.