Large Farm Debt in Ukraine
AbstractThe present study analyzes the nature of Ukrainian farm debt by investigating whether the debt servicing problem of Ukrainian farms is more of a debt problem or a net income problem. Net income generation appears to be the more important underlying problem behind the debt problem. Second, the study recounts the main reasons for apparent farm losses in Ukraine. This analysis suggests that low profits are a result of public policies that reduce incentives for profit making, farm production of livestock products at a loss and lack of restructuring. The study concludes that the debt servicing problem of Ukrainian farms leaves them unable to utilize market instruments to secure seasonal financing and is the primary justification for the presence of the Ukrainian government in financing seasonal input supplies. Such financing creates a substantial burden on the state budget, and ultimately on taxpayers. It also leads to sizeable State claims on commodity markets that are similar to a continuation of the state order system for grain that was discontinued after 1997.
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Bibliographic InfoPaper provided by Agricultural and Development Economics Division of the Food and Agriculture Organization of the United Nations (FAO - ESA) in its series Working Papers with number 03-02.
Length: 21 pages
Date of creation: 2003
Date of revision:
Contact details of provider:
Postal: Agricultural Sector in Economic Development Service FAO Viale delle Terme di Caracalla 00153 Rome Italy
Phone: +39(6) 57051
Fax: +39 06 57055522
Web page: http://www.fao.org/es/esa/
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Agricultural economics; Debt; Decision making; Economic indicators; Economics; Farm income; Farm management; Farm results; Financing; Large farms; Losses; Profitability; Public debt; Repayment; Ukraine;
Find related papers by JEL classification:
- P31 - Economic Systems - - Socialist Institutions and Their Transitions - - - Socialist Enterprises and Their Transitions
- Q14 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Finance
- O13 - Economic Development, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
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