Agricultural and Rural Capital Markets in the EU Candidate Countries: Croatia, the Former Yugoslav Republic of Macedonia and Turkey
This paper analyses agricultural and rural capital factor markets in the three European Union candidate countries: Croatia, the Former Yugoslav Republic (FYR) of Macedonia and Turkey. Aggregate capital market indicators and their dynamics, and factors driving agricultural and rural capital markets are analysed and compared in these countries. In general, agricultural and rural capital markets show similarities with general capital market developments, but agricultural and rural capital markets are facing specific credit constraints related to agricultural assets and rural fixed asset specificities, which constrain their mortgages and collateral use. Credit market imperfections have limited access to the investment credits necessary for the restructuring of small-scale individual farms. Government transfers are used to differing extents in the candidate countries, but generally tend to increase over time. Remittances and donor funds have also played an important role in agricultural and rural economy investments.
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"Do agricultural subsidies crowd out or stimulate rural credit institutions? The Case of CAP Payments,"
Factor Markets Working Papers
100, Centre for European Policy Studies.
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2011 Annual Meeting, July 24-26, 2011, Pittsburgh, Pennsylvania
103085, Agricultural and Applied Economics Association.
- Ciaian, Pavel & Pokrivcak, Jan & Szegenyova, Katarina, 2011. "Do Agricultural Subsidies Crowd-out or Stimulate Rural Credit Market Institutions?: The Case of CAP Payments," 2011 International Congress, August 30-September 2, 2011, Zurich, Switzerland 114289, European Association of Agricultural Economists.
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