EVALUATION OF THE IMPACT OF GLOBAL CRISIS ON GLOBAL FOOD ECONOMY (Ocena wplywu swiatowego kryzysu na globalna gospodarka zywnosciowa)

Many experts believe that the reasons for ongoing economic crisis lie in the financial market. Liberalization of capital flows and technological progress allowed the globalization of financial markets, leading to emergence of liquid financial markets, with, in turn, resulted in a divergence between real and financial spheres. However, the crisis on financial market has not significantly affected food production. The production for consumption purposes in developed countries slowed down, though it was compensated by growth in developing countries. Further growth in demand for food in developing countries may trigger an increase of prices, which in turn may contribute to significant changes in perception of the development of global food economy. It seems that the initiated socioeconomic changes may be a sign of striving for a more sustainable global development.