Best International Practices of Sustainable Agricultural Development Based on Smart Innovation

Abstract

AbstractThe paper aims to explore best international practices of sustainable agricultural development based on smart innovation while systematically considering all (basic and additional) factors of this technology and developing framework recommendations for the management of smart technology factors to maximize the sustainability of agricultural development. The authors form a sample of the world’s top ten countries specializing in agriculture. The authors use the regression analysis to determine the regression dependence of agricultural sustainability on the whole set of factors of smart technology. The authors demonstrate the importance of additional factors of smart technology lying beyond automation of agricultural production but being equally important for the sustainable development of agriculture. It was found that the Pareto optimum, in which the optimal combination of key factors of smart technology provides the maximum sustainability of agriculture in the sample of countries, implies paramount attention to additional factors. The authors recommend increasing digital skills in the community and among workers in the labor market by 19.99% (32.88 places). Additionally, they recommend increasing the level of Internet retail by 37.23% (27.12 places). At the same time, the activity of using big data and analytics (the main factor) is enough to increase only by 3.45% (35.82 places).KeywordsBest international practicesSustainable developmentAgriculture smart innovationJEL ClassificationQ01Q56O34