IDEAS home Printed from https://ideas.repec.org/a/oup/erevae/v25y1998i3p351-72.html
   My bibliography  Save this article

Agricultural Transformation and Implications for Designing Rural Financial Policies in Romania

Author

Listed:
  • Heidhues, Franz
  • Davis, Junior R
  • Schrieder, Gertrud

Abstract

The current depth and future development of rural finance in Romania are discussed in the context of Romania's macroeconomic and agricultural transformation. The rural finance system in CEE countries is part of the overall agricultural support system and still serves to transfer implicit subsidies to agriculture. The paper argues that building an efficient rural finance system to address the financial demands of the private agricultural sector requires a multi-level approach. Innovations are needed: at the finance system level, in particular to create an effective regulatory and supervisory framework and to free the Central Bank from government interference; at the level of financial organisations, to give highest priority to efficiency and credit worthiness when approving credit; and at the level of financial services to adapt administration procedures and product design to the demands of the rural clientele. Copyright 1998 by Oxford University Press.

Suggested Citation

  • Heidhues, Franz & Davis, Junior R & Schrieder, Gertrud, 1998. "Agricultural Transformation and Implications for Designing Rural Financial Policies in Romania," European Review of Agricultural Economics, Oxford University Press and the European Agricultural and Applied Economics Publications Foundation, vol. 25(3), pages 351-372.
    • Handle: RePEc:oup:erevae:v:25:y:1998:i:3:p:351-72
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Other versions of this item:

    References listed on IDEAS

    as
    1. Carmen M. Reinhart & Graciela L. Kaminsky, 1999. "The Twin Crises: The Causes of Banking and Balance-of-Payments Problems," American Economic Review, American Economic Association, vol. 89(3), pages 473-500, June.
    2. Fleming, Alex & Lily Chu & Bakker, Marie-Renee, 1996. "The Baltics - Banking crises observed," Policy Research Working Paper Series 1647, The World Bank.
    3. J.R. Davis & P.G. Hare, 1997. "Reforming the Systems of Rural Finance Provision in Romania: Some Options for Privatisation and Change," CERT Discussion Papers 9713, Centre for Economic Reform and Transformation, Heriot Watt University.
    4. Enrico C. Perotti & Octavian Carare, 1996. "The Evolution of Bank Credit Qulity in Transition: Theory and Evidence from Romania," William Davidson Institute Working Papers Series 49, William Davidson Institute at the University of Michigan.
    5. Heidhues, Franz & Schrieder, Gertrud & Zeller, Manfred & von Braun, Joachim, 1997. "Rural finance for food security for the poor," Food policy reviews 4, International Food Policy Research Institute (IFPRI).
    6. Hoff, Karla & Stiglitz, Joseph E, 1990. "Imperfect Information and Rural Credit Markets--Puzzles and Policy Perspectives," The World Bank Economic Review, World Bank, vol. 4(3), pages 235-250, September.
    7. G. Schrieder & F. Heidhues, 1997. "Access Constraints of Romanian Peasants in Relation to the Formal Financial Sector," CERT Discussion Papers 9712, Centre for Economic Reform and Transformation, Heriot Watt University.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Buchenrieder, Gertrud & Hanf, Jon Henrich & Pieniadz, Agata, 2009. "20 years of transition in the agri-food sector," German Journal of Agricultural Economics, Humboldt-Universitaet zu Berlin, Department for Agricultural Economics, vol. 58(07), pages 1-9, October.
    2. Qi Zhou & Xiangfeng Chen & Shuting Li, 2018. "Innovative Financial Approach for Agricultural Sustainability: A Case Study of Alibaba," Sustainability, MDPI, vol. 10(3), pages 1-20, March.
    3. Dirk Bezemer & Junior Davis, 2005. "The rural non-agricultural economy in transition countries: Enterprise level findings from Armenia," Development and Comp Systems 0510020, University Library of Munich, Germany.
    4. Franz Heidhues & Gertrud Schrieder, 2000. "Rural development and financial markets in Romania," International Advances in Economic Research, Springer;International Atlantic Economic Society, vol. 6(1), pages 16-32, February.
    5. Junior Davis & Angela Gaburici, 2005. "Non-farm employment in small-scale enterprises in Romania: policy and development issues," Development and Comp Systems 0510019, University Library of Munich, Germany.
    6. Gertrud Schrieder & Franz Heidhues, 1998. "Transformation and Rural Finance," CERT Discussion Papers 9812, Centre for Economic Reform and Transformation, Heriot Watt University.
    7. Junior Davis, 2006. "Rural non-farm livelihoods in transition economies: emerging issues and policies," The Electronic Journal of Agricultural and Development Economics, Food and Agriculture Organization of the United Nations, vol. 3(2), pages 180-224.
    8. Martin Petrick, 2005. "Empirical measurement of credit rationing in agriculture: a methodological survey," Agricultural Economics, International Association of Agricultural Economists, vol. 33(2), pages 191-203, September.
    9. Junior R Davis & Angela Gaburici & Paul G. Hare, 1998. "What's Wrong with Romanian Rural Finance? Understanding the Determinants of Private Farmers' Access to Credit," CERT Discussion Papers 9808, Centre for Economic Reform and Transformation, Heriot Watt University.
    10. Junior R Davis & Angela Gaburici, 1998. "The Economic Activity of Private Farms in Romania during Transition. Just how competitive are they?," CERT Discussion Papers 9807, Centre for Economic Reform and Transformation, Heriot Watt University.

    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. Gertrud Schrieder & Franz Heidhues, 1998. "Transformation and Rural Finance," CERT Discussion Papers 9812, Centre for Economic Reform and Transformation, Heriot Watt University.
    2. G. Schrieder & F. Heidhues, 1997. "Access Constraints of Romanian Peasants in Relation to the Formal Financial Sector," CERT Discussion Papers 9712, Centre for Economic Reform and Transformation, Heriot Watt University.
    3. Junior R Davis & Angela Gaburici, 1998. "The Economic Activity of Private Farms in Romania during Transition. Just how competitive are they?," CERT Discussion Papers 9807, Centre for Economic Reform and Transformation, Heriot Watt University.
    4. Zeller, Manfred & Ahmed, Akhter U. & Babu, Suresh Chandra & Broca, Sumiter Singh & Diagne, Aliou & Sharma, Manohar, 1996. "Rural finance policies for food security of the poor: methodologies for a multicountry research project," FCND discussion papers 11, International Food Policy Research Institute (IFPRI).
    5. Akram, Waqar & Hussain, Zakir, 2008. "Agricultural credit constraints and borrowing behavior of farmers in rural Punjab," MPRA Paper 31531, University Library of Munich, Germany.
    6. Imran Matin & David Hulme & Stuart Rutherford, 2002. "Finance for the poor: from microcredit to microfinancial services," Journal of International Development, John Wiley & Sons, Ltd., vol. 14(2), pages 273-294.
    7. J.R. Davis & P.G. Hare, 1997. "Reforming the Systems of Rural Finance Provision in Romania: Some Options for Privatisation and Change," CERT Discussion Papers 9713, Centre for Economic Reform and Transformation, Heriot Watt University.
    8. Franz Heidhues & Gertrud Schrieder, 2000. "Rural development and financial markets in Romania," International Advances in Economic Research, Springer;International Atlantic Economic Society, vol. 6(1), pages 16-32, February.
    9. Alessandra Canepa & Fawaz Khaled, 2018. "Housing, Housing Finance and Credit Risk," IJFS, MDPI, vol. 6(2), pages 1-23, May.
    10. Harding, Don & Pagan, Adrian, 2011. "An Econometric Analysis of Some Models for Constructed Binary Time Series," Journal of Business & Economic Statistics, American Statistical Association, vol. 29(1), pages 86-95.
    11. Joshua Aizenman & Jaewoo Lee, 2007. "International Reserves: Precautionary Versus Mercantilist Views, Theory and Evidence," Open Economies Review, Springer, vol. 18(2), pages 191-214, April.
    12. Geert Bekaert & Campbell R. Harvey, 2000. "Capital Flows and the Behavior of Emerging Market Equity Returns," NBER Chapters, in: Capital Flows and the Emerging Economies: Theory, Evidence, and Controversies, pages 159-194, National Bureau of Economic Research, Inc.
    13. Ajit Singh, 2003. "Capital account liberalisation, free long-term capital flows, financial crises and economic development," Chapters, in: Philip Arestis & Michelle Baddeley & John S.L. McCombie (ed.), Globalisation, Regionalism and Economic Activity, chapter 1, pages 15-46, Edward Elgar Publishing.
    14. Carmen M. Reinhart, 2002. "Default, Currency Crises, and Sovereign Credit Ratings," The World Bank Economic Review, World Bank, vol. 16(2), pages 151-170, August.
    15. Jerome L. Stein & Giovanna Paladino, 1999. "Exchange Rate Misalignments and Crises," CESifo Working Paper Series 205, CESifo.
    16. Heng, Dyna, 2011. "Capital flows and real exchange rate: does financial development matter?," MPRA Paper 48553, University Library of Munich, Germany, revised May 2012.
    17. David Llewellyn, 2000. "Some Lessons for Regulation from Recent Bank Crises," Open Economies Review, Springer, vol. 11(1), pages 69-109, August.
    18. Glick, Reuven & Hutchison, Michael, 2005. "Capital controls and exchange rate instability in developing economies," Journal of International Money and Finance, Elsevier, vol. 24(3), pages 387-412, April.
    19. Dimelis, Sophia & Giotopoulos, Ioannis & Louri, Helen, 2015. "Can firms grow without credit?: evidence from the Euro Area, 2005-2011: a quantile panel analysis," LSE Research Online Documents on Economics 61157, London School of Economics and Political Science, LSE Library.
    20. Michael Wosser, 2015. "The Determinants of Systemic Banking Crises A Regulatory Perspective," Economics Department Working Paper Series n265-15.pdf, Department of Economics, National University of Ireland - Maynooth.

    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:oup:erevae:v:25:y:1998:i:3:p:351-72. 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: Oxford University Press (email available below). General contact details of provider: https://edirc.repec.org/data/eaaeeea.html .

    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.