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Developments in the Agricultural and Rural Capital Market of the Former Yugoslav Republic of Macedonia

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  • Angelova, Biljana
  • Bojnec, Štefan
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    Abstract

    The undeveloped rural capital market in the Former Yugoslav Republic of Macedonia is constrained by an urban–rural development gap, with limited capacities for rural development and imperfections in the rural capital market. Among the most striking hindrances are the illegal status of a large share of agricultural buildings and other real estate in rural areas, particularly on the individual family farms that prevail in the country, and the insufficient knowledge and abilities of individual farmers in applying for credit. National, EU and other donor funds are being used to improve knowledge, skills and other human resources, and to address the illegal status of buildings and facilities. During the most recent years, government support for agricultural, rural and regional development has been introduced to promote good agricultural practices, production and economic activity in rural areas. The elimination of imperfections and improvements to the functioning of the capital market – making access to credit and funds easier, especially for small-scale family farms and for rural development – are seen as measures contributing to agriculture and more balanced rural and regional development.

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    File URL: http://www.factormarkets.eu/system/files/Factor%20Markets%20WP%20No%209%20Angelova%20%2526%20Bojnec%20on%20Agriculture%20in%20FYROM.pdf
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    Bibliographic Info

    Paper provided by Centre for European Policy Studies in its series Factor Markets Working Papers with number 110.

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    Length: 21 pages
    Date of creation: Oct 2011
    Date of revision:
    Handle: RePEc:eps:fmwppr:110

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    3. Stéphane Blancard & Jean-Philippe Boussemart & Walter Briec & Kristiaan Kerstens, 2006. "Short- and Long-Run Credit Constraints in French Agriculture: A Directional Distance Function Framework Using Expenditure-Constrained Profit Functions," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 88(2), pages 351-364.
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    8. Štefan Bojnec & Laure Latruffe, 2011. "Financing availability and investment decisions of Slovenian farms during the transition to a market economy," Journal of Applied Economics, Universidad del CEMA, vol. 0, pages 297-317, November.
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    10. Carter, Michael R., 1988. "Equilibrium credit rationing of small farm agriculture," Journal of Development Economics, Elsevier, vol. 28(1), pages 83-103, February.
    11. Bojnec, Stefan, 2011. "Land Markets in the Three Candidate Countries of the EU," Working Papers 117482, Factor Markets, Centre for European Policy Studies.
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