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The Institutional Support of Agricultural Loans and its Role in Czech Agriculture

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  • Cechura, Lukas

Abstract

The paper deals with the analysis of the institutional support of agricultural loans and its role in Czech agriculture based on the dynamic optimal model. The dynamic optimization problem is solved by the Lagrange method. The application of the theoretical model shows that the lower is the interest rate paid by the farmer the lower is the optimal consumption and consequently the farmer is willing to employ higher part of the capital in the production. Thus, the initial capital is more effectively employed. The time series analysis shows that the SGAFF's activities significantly support the farmer's investments. In spite of the problems in the setting of the SGAFF's policy, the role of the SGAFF in financing of agricultural activities can be regarded to be positive in the analyzed period.

Suggested Citation

  • Cechura, Lukas, 2007. "The Institutional Support of Agricultural Loans and its Role in Czech Agriculture," 104th Seminar, September 5-8, 2007, Budapest, Hungary 7815, European Association of Agricultural Economists.
    • Handle: RePEc:ags:eaa104:7815
    DOI: 10.22004/ag.econ.7815
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    Keywords

    Agricultural Finance;

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