IDEAS home Printed from https://ideas.repec.org/a/vrs/manmen/v16y2012i1p250-263n19.html
   My bibliography  Save this article

The imperfections of a credit market in agriculture

Author

Listed:
  • Kułyk Piotr

    (Faculty of Economics and Management, University of Zielona Góra)

Abstract

In the article the relations of the credit market with the agricultural sector were evaluated. The significance of the imperfections in the allocation of resources with help of the credit market was presented. The attention was paid to both the specificity of the very agriculture and the external conditions, which were created as a result of the process of globalization. The effects of the impact of the selected macroeconomic indicators on the adjustments within the interest rate calculated with use of the changes of the prices of agricultural products were examined. Ten highly-developed countries were analyzed for regard of the similar conditions of functioning. The research period referred to 1990-2010. The conducted deliberations allowed to distinguish a group of factors influencing the terms of creating the costs of obtaining the credit money. The character of the existing correlations was analyzed. The different meaning of particular relations was proved. The presented results raise the significance of retransfers dedicated to agriculture with help of the state.

Suggested Citation

  • Kułyk Piotr, 2012. "The imperfections of a credit market in agriculture," Management, Sciendo, vol. 16(1), pages 250-263, May.
    • Handle: RePEc:vrs:manmen:v:16:y:2012:i:1:p:250-263:n:19
    DOI: 10.2478/v10286-012-0019-3
    as

    Download full text from publisher

    File URL: https://doi.org/10.2478/v10286-012-0019-3
    Download Restriction: no
    File URL: https://libkey.io/10.2478/v10286-012-0019-3?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Cashin, Paul & Cespedes, Luis F. & Sahay, Ratna, 2004. "Commodity currencies and the real exchange rate," Journal of Development Economics, Elsevier, vol. 75(1), pages 239-268, October.
    2. Christopher B. Barrett, 1999. "The microeconomics of the developmental paradox: on the political economy of food price policy," Agricultural Economics, International Association of Agricultural Economists, vol. 20(2), pages 159-172, March.
    3. Pavel Ciaian & Johan F.M. Swinnen, 2009. "Credit Market Imperfections and the Distribution of Policy Rents," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 91(4), pages 1124-1139.
    4. Bhattacharyya, Anjana & Bhattacharyya, Arunava & Kumbhakar, Subal C., 1996. "Government Interventions, Market Imperfections, and Technical Inefficiency in a Mixed Economy: A Case Study of Indian Agriculture," Journal of Comparative Economics, Elsevier, vol. 22(3), pages 219-241, June.
    5. Galindo, Arturo & Schiantarelli, Fabio & Weiss, Andrew, 2007. "Does financial liberalization improve the allocation of investment?: Micro-evidence from developing countries," Journal of Development Economics, Elsevier, vol. 83(2), pages 562-587, July.
    6. Peter J. Barry & Ralph W. Bierlen & Narda L. Sotomayor, 2000. "Financial Structure of Farm Businesses under Imperfect Capital Markets," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 82(4), pages 920-933.
    7. Hughes, Dean W. & Penson Jr., John B. & Bednarz, Curtis R., 1984. "Subsidized Credit And Investment In Agriculture: The Special Case Of Farm Real Estate," 1984 Annual Meeting, August 5-8, Ithaca, New York 279062, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    8. Bekaert, Geert & Harvey, Campbell R. & Lundblad, Christian, 2005. "Does financial liberalization spur growth?," Journal of Financial Economics, Elsevier, vol. 77(1), pages 3-55, July.
    9. Sayed H. Saghaian & Michael R. Reed & Mary A. Marchant, 2002. "Monetary Impacts and Overshooting of Agricultural Prices in an Open Economy," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 84(1), pages 90-103.
    10. Ester Faia, 2011. "Macroeconomic and welfare implications of financial globalization," Journal of Applied Economics, Universidad del CEMA, vol. 14, pages 119-144, May.
    11. Arturo J. Galindo & Alejandro Micco & Guillermo Ordoñez, 2002. "Financial Liberalization: Does It Pay to Join the Party?," Economía Journal, The Latin American and Caribbean Economic Association - LACEA, vol. 0(Fall 2002), pages 231-262, August.
    12. Mathew D. Shane & William M. Liefert, 2000. "The International Financial Criss: Macroeconomic Linkages to Agriculture," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 82(3), pages 682-687.
    13. Laure Latruffe, 2005. "The Impact of Credit Market Imperfections on Farm Investment in Poland," Post-Communist Economies, Taylor & Francis Journals, vol. 17(3), pages 349-362.
    14. Nicita, Alessandro, 2009. "The price effect of tariff liberalization: Measuring the impact on household welfare," Journal of Development Economics, Elsevier, vol. 89(1), pages 19-27, May.
    15. Jason Henderson, 2009. "Crisis in U.S. Financial Markets—Spillover and Recovery Prospects in Rural America: Discussion," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 91(5), pages 1209-1210.
    16. Ciaian, Pavel & Swinnen, Johan F.M., 2009. "AJAE appendix for ‘Credit Market Imperfections and the Distribution of Policy Rents’," American Journal of Agricultural Economics APPENDICES, Agricultural and Applied Economics Association, vol. 91(4), pages 1-10, February.
    17. Dean W. Hughes & John B. Penson & Curtis R. Bednarz, 1984. "Subsidized Credit and Investment in Agriculture: The Special Case of Farm Real Estate," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 66(5), pages 755-760.
    18. Petrick, Martin, 2004. "Farm investment, credit rationing, and governmentally promoted credit access in Poland: a cross-sectional analysis," Food Policy, Elsevier, vol. 29(3), pages 275-294, June.
    19. Ester Faia, 2011. "Macroeconomic and welfare implications of financial globalization," Journal of Applied Economics, Universidad del CEMA, vol. 14, pages 119-144, May.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Pavel Ciaian & d’Artis Kancs, 2011. "The Impact Of Food Price Shock On Heterogeneous Credit Constrained Firms," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 82(2), pages 115-137, June.
    2. Sulaiman, Saidu & Masih, Mansur, 2017. "Is liberalizing finance the game in town for Nigeria ?," MPRA Paper 95569, University Library of Munich, Germany.
    3. Jan Fałkowski & Pavel Ciaian & d'Artis Kancs, 2009. "Access to Credit, Factor Allocation and Farm Productivity: Evidence From the CEE Transition Economies," Working Papers 2009-12, Faculty of Economic Sciences, University of Warsaw.
    4. Calzadilla, Alvaro & Zhu, Tingju & Rehdanz, Katrin & Tol, Richard S.J. & Ringler, Claudia, 2013. "Economywide impacts of climate change on agriculture in Sub-Saharan Africa," Ecological Economics, Elsevier, vol. 93(C), pages 150-165.
    5. Geoffroy Enjolras & Gilles Sanfilippo, 2018. "The role of debt in financing French farm investments," Post-Print hal-02048362, HAL.
    6. Ciaian, Pavel & Ratinger, Tomáš, 2009. "Income Distribution Effects of EU Rural Development Policies: The Case of Farm Investment Support," Conference papers 331905, Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project.
    7. Ciaian, Pavel & Pokrivcak, Jan, 2011. "Do agricultural subsidies crowd out or stimulate rural credit institutions? The Case of CAP Payments," Working papers 117485, Factor Markets, Centre for European Policy Studies.
    8. Štefan BOJNEC, 2012. "Agricultural and rural capital markets in Turkey, Croatia and the FYR of Macedonia," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 58(11), pages 533-541.
    9. Bojnec, Stefan, 2011. "Agricultural and Rural Capital Markets in the EU Candidate Countries: Croatia, the Former Yugoslav Republic of Macedonia and Turkey," Working papers 117489, Factor Markets, Centre for European Policy Studies.
    10. Pavel Ciaian & Johan F.M. Swinnen, 2007. "Credit Market Imperfections and the Distribution of Policy Rents: The Common Agricultural Policy in the New EU Member States," LICOS Discussion Papers 18307, LICOS - Centre for Institutions and Economic Performance, KU Leuven.
    11. Kristin J. Forbes, 2007. "The Microeconomic Evidence on Capital Controls: No Free Lunch," NBER Chapters, in: Capital Controls and Capital Flows in Emerging Economies: Policies, Practices, and Consequences, pages 171-202, National Bureau of Economic Research, Inc.
    12. Jerzy Michalek & Pavel Ciaian & d’Artis Kancs, 2014. "Capitalization of the Single Payment Scheme into Land Value: Generalized Propensity Score Evidence from the European Union," Land Economics, University of Wisconsin Press, vol. 90(2), pages 260-289.
    13. Johan Swinnen & Alessandro Olper & Senne Vandevelde, 2021. "From unfair prices to unfair trading practices: Political economy, value chains and 21st century agri‐food policy," Agricultural Economics, International Association of Agricultural Economists, vol. 52(5), pages 771-788, September.
    14. Yuan, Shenguo & Wu, Zhouheng & Liu, Lanfeng, 2022. "The effects of financial openness and financial efficiency on Chinese macroeconomic volatilities," The North American Journal of Economics and Finance, Elsevier, vol. 63(C).
    15. Fogarasi, Jozsef & Latruffe, Laure, 2009. "Farm performance and support in Central and Western Europe: a comparison of Hungary and France," 83rd Annual Conference, March 30 - April 1, 2009, Dublin, Ireland 51053, Agricultural Economics Society.
    16. Joel Peress & jim goldman, 2016. "Firm Innovation and Financial Analysis: How Do They Interact?," 2016 Meeting Papers 531, Society for Economic Dynamics.
    17. Bonfiglioli, Alessandra, 2008. "Financial integration, productivity and capital accumulation," Journal of International Economics, Elsevier, vol. 76(2), pages 337-355, December.
    18. Van Herck, Kristine & Vranken, Liesbet, 2012. "Direct Payments and Land Rents: Evidence from New Member States," 2012 Conference, August 18-24, 2012, Foz do Iguacu, Brazil 126777, International Association of Agricultural Economists.
    19. Marta Guth & Katarzyna Smędzik-Ambroży & Bazyli Czyżewski & Sebastian Stępień, 2020. "The Economic Sustainability of Farms under Common Agricultural Policy in the European Union Countries," Agriculture, MDPI, vol. 10(2), pages 1-20, January.
    20. D'Artis Kancs & Pavel Ciaian, 2010. "Factor content of bilateral trade: the role of firm heterogeneity and transaction costs," Agricultural Economics, International Association of Agricultural Economists, vol. 41(3‐4), pages 305-317, May.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:vrs:manmen:v:16:y:2012:i:1:p:250-263:n:19. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Peter Golla (email available below). General contact details of provider: https://www.sciendo.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.