QUALITATIVE AND QUANTITATIVE ANALYSIS OF MICRO AND MACRO ASPECTS OF AGRICULTURAL FINANCE
DOI:
https://doi.org/10.5937/ekoPolj1403771VKeywords:
agriculture, fnance, Serbia, EU, harmonization.Abstract
The epicenter of this analysis is to provide an overview of the current situation in micro and macro agricultural fnance in Serbia and the EU. One of the goals of this research is to consider the weaknesses and potentials of agricultural policy in Serbia, through comparison with more developed countries. In this qualitative and quantitative analysis, authors used comparation method, analysis and synthesis method, inductive and deductive method, and a local and international literature review. There are several important conclusions which can be drawn from this manuscript. Access to fnance among farmers and agricultural SMEs is among the poorest of any sector in Serbia. The Serbian fnancial sector offers a poor range of loan products to the agricultural sector. Therefore, existing mechanisms for micro and macro agricultural fnance in Serbia are not adequate and a change should be made in approach.
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References
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16. OToole, C., Newman, C., Hennessy, T. (2014): Financing Constraints and Agricultural Investment: Effects of the Irish Financial Crisis, Journal of Agricultural Economics, vol. 65(1), pp. 152-176, available on:http://onlinelibrary.wiley.com/doi/10.1111/1477-9552.12027/pdf
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18.Pietola, K., Myyra, S., Heikkila, A. (2011): The penetration of fnancial instability in agricultural credit and leveraging, Centre for European Policy Studies (Brussels, Belgium), Factor Markets (Project), No. 2, pp. 1-20, available on: http://ceps.be/book/penetration-fnancial-instability-agricultural-credit-and-leveraging
19.Popović, V., Katić, B. (2007): Nivo i struktura interne podrške poljoprivredi Srbije u procesu pristupanja STO i EU, monografja, IEP, Beograd.
20.Radović, G. (2009):Podrška države u funkciji fnansiranja poljoprivrede, Agroekonomika, vol. 38 (41-42), pp. 69-79.
21.Radović, G. (2011): Model tranzicije slovenačke poljoprivrede, Škola biznisa, vol. 8 (1), pp. 101-113.
9. Katchova, A. L., Enlow, S. J. (2013): Financial performance of publicly-traded agribusinesses, Agricultural Finance Review, vol. 73 (1), pp. 58-73, available on: http://ageconsearch.umn.edu/bitstream/164518/2/Agribusiness%20Financial%20Performance.pdf
10.Marković, K. (2007): Transformacija Zajedničke agrarne politike Evropske Unije i implikacije na poljoprivredu Srbije, doktorska disertacija, Ekonomski fakultet Subotica, Subotica.
11. Martini, R. (2011): Long Term Trends in Agricultural Policy Impacts, OECD Food, Agriculture and Fisheries Papers, No. 45, OECD Publishing, pp. 1-102, available on: www.oecd-ilibrary.org/docserver/download/5kgdp5zw179q.pdf?expires=1408612555&id=id&accname=guest&checksum=80034D2A25F3621EFA0EE45F863B3AFA
12.Ministarstvo fnansija Republike Srbije (2012, July 13), available on: www.mfp.gov.rs/pages/issue.php?id=1578
13.Mondelli, M. P. (2012): The Determinants of External Private Equity Financing in Agricultural Production Businesses, 27th International Conference of Agricultural Economists, Proceedings, Foz do Iguaçu, Brazil, pp. 1-27, available on: http://ageconsearch.umn.edu/bitstream/127135/2/Mondelli_2012_Determinants%20External%20Equity%20Finance%20in%20Agriculture_IAAE_AgEconSearch.pdf
14.Morgan, W., Cotter, J., Dowd, K. (2011): Extreme Measures of Agricultural Financial Risk, Quantitative fnance, Vol. 4, pp. 1-39, available on: http://arxiv.org/ftp/arxiv/papers/1103/1103.5962.pdf
15.Nacionalna agencija za regionalni razvoj (2012): Uticaj fnansijske krize na poslovne performanse preduzeća po privrednim granama - komparativna analiza Srbije, Hrvatske i Slovenija, Beograd, available on: http://narr.gov.rs/index.php/content/download/1604/8664/fle/Uticaj%20fnansijske%20krize,%20web.pdf
16. OToole, C., Newman, C., Hennessy, T. (2014): Financing Constraints and Agricultural Investment: Effects of the Irish Financial Crisis, Journal of Agricultural Economics, vol. 65(1), pp. 152-176, available on:http://onlinelibrary.wiley.com/doi/10.1111/1477-9552.12027/pdf
17.Pejanović, R., Milanović, M., Cvijanović, D. (2006): Transition of agriculture in the Republic of Serbia, Ekonomika poljoprivrede, IAE Belgrade, vol. 53 (4), pp. 937-946.
18.Pietola, K., Myyra, S., Heikkila, A. (2011): The penetration of fnancial instability in agricultural credit and leveraging, Centre for European Policy Studies (Brussels, Belgium), Factor Markets (Project), No. 2, pp. 1-20, available on: http://ceps.be/book/penetration-fnancial-instability-agricultural-credit-and-leveraging
19.Popović, V., Katić, B. (2007): Nivo i struktura interne podrške poljoprivredi Srbije u procesu pristupanja STO i EU, monografja, IEP, Beograd.
20.Radović, G. (2009):Podrška države u funkciji fnansiranja poljoprivrede, Agroekonomika, vol. 38 (41-42), pp. 69-79.
21.Radović, G. (2011): Model tranzicije slovenačke poljoprivrede, Škola biznisa, vol. 8 (1), pp. 101-113.
2. Banse, M., Helming, J. F. M., Nowicki, P., Van Meijl, H. (2008): Future of European agriculture after the Health Check, German Journal of Agricultural Economics, vol. 57(3/4), pp. 156-164, available on: http://ageconsearch.umn.edu/bitstream/97588/2/2_Banse.pdf
3. Cabannes, Y. (2012): Financing Urban Agriculture, Environment and Urbanization, vol. 24 (2), pp. 665-683, available on: http://eau.sagepub.com/content/24/2/665.full.pdf+html
4. Ciaian, P., Falkowski, J., Kancs, dA. (2010): Access to Credit, Factor Allocation and Farm Productivity: Evidence From the CEE Transition Economies, 114th Seminar of the European Association of Agricultural Economists (EAAE), Proceedings, Berlin, Germany, pp. 1-35, available on: http://ageconsearch.umn.edu/bitstream/61347/2/Ciaian%20Falkowski%20Kancs%2061347.pdf
5. Ciaian, P., Pokrivcak, J., Szegenyova, K. (2011): Do Agricultural Subsidies Crowdout or Stimulate Rural Credit Market Institutions?: The Case of CAP Payments, 2011 AAEA and NAREA Joint Annual Meeting, Pittsburgh, pp. 1-27, available on: http://ageconsearch.umn.edu/bitstream/103085/2/Paper.pdf
6. Curtiss, J. (2012): Determinants of Financial Capital Use: Review of Theories and Implications for Rural Businesses, Factor Markets Working Papers, No. 123, Centre for European Policy Studies, Brussels, Belgium, pp. 1-51, available on: http://ageconsearch.umn.edu/bitstream/122846/2/FM_WP19%20Determinants%20of%20financial%20capital%20use.pdf
7. Financial framework 2007-2013 (2012, July 10), available on: http://ec.europa.eu/budget/fgures/2010/2010_en.cfm
8. Hedman, K., Lagerqvist, C. J. (2013): Performance Indicators in Agricultural Financial Markets, Factor Markets Working Paper No. 43, Centre for European Policy Studies, Brussels, Belgium, pp. 1-28, available on: www.ceps.eu/book/performance-indicatorsagricultural-fnancial-markets
9. Katchova, A. L., Enlow, S. J. (2013): Financial performance of publicly-traded agribusinesses, Agricultural Finance Review, vol. 73 (1), pp. 58-73, available on: http://ageconsearch.umn.edu/bitstream/164518/2/Agribusiness%20Financial%20Performance.pdf
10.Marković, K. (2007): Transformacija Zajedničke agrarne politike Evropske Unije i implikacije na poljoprivredu Srbije, doktorska disertacija, Ekonomski fakultet Subotica, Subotica.
11. Martini, R. (2011): Long Term Trends in Agricultural Policy Impacts, OECD Food, Agriculture and Fisheries Papers, No. 45, OECD Publishing, pp. 1-102, available on: www.oecd-ilibrary.org/docserver/download/5kgdp5zw179q.pdf?expires=1408612555&id=id&accname=guest&checksum=80034D2A25F3621EFA0EE45F863B3AFA
12.Ministarstvo fnansija Republike Srbije (2012, July 13), available on: www.mfp.gov.rs/pages/issue.php?id=1578
13.Mondelli, M. P. (2012): The Determinants of External Private Equity Financing in Agricultural Production Businesses, 27th International Conference of Agricultural Economists, Proceedings, Foz do Iguaçu, Brazil, pp. 1-27, available on: http://ageconsearch.umn.edu/bitstream/127135/2/Mondelli_2012_Determinants%20External%20Equity%20Finance%20in%20Agriculture_IAAE_AgEconSearch.pdf
14.Morgan, W., Cotter, J., Dowd, K. (2011): Extreme Measures of Agricultural Financial Risk, Quantitative fnance, Vol. 4, pp. 1-39, available on: http://arxiv.org/ftp/arxiv/papers/1103/1103.5962.pdf
15.Nacionalna agencija za regionalni razvoj (2012): Uticaj fnansijske krize na poslovne performanse preduzeća po privrednim granama - komparativna analiza Srbije, Hrvatske i Slovenija, Beograd, available on: http://narr.gov.rs/index.php/content/download/1604/8664/fle/Uticaj%20fnansijske%20krize,%20web.pdf
16. OToole, C., Newman, C., Hennessy, T. (2014): Financing Constraints and Agricultural Investment: Effects of the Irish Financial Crisis, Journal of Agricultural Economics, vol. 65(1), pp. 152-176, available on:http://onlinelibrary.wiley.com/doi/10.1111/1477-9552.12027/pdf
17.Pejanović, R., Milanović, M., Cvijanović, D. (2006): Transition of agriculture in the Republic of Serbia, Ekonomika poljoprivrede, IAE Belgrade, vol. 53 (4), pp. 937-946.
18.Pietola, K., Myyra, S., Heikkila, A. (2011): The penetration of fnancial instability in agricultural credit and leveraging, Centre for European Policy Studies (Brussels, Belgium), Factor Markets (Project), No. 2, pp. 1-20, available on: http://ceps.be/book/penetration-fnancial-instability-agricultural-credit-and-leveraging
19.Popović, V., Katić, B. (2007): Nivo i struktura interne podrške poljoprivredi Srbije u procesu pristupanja STO i EU, monografja, IEP, Beograd.
20.Radović, G. (2009):Podrška države u funkciji fnansiranja poljoprivrede, Agroekonomika, vol. 38 (41-42), pp. 69-79.
21.Radović, G. (2011): Model tranzicije slovenačke poljoprivrede, Škola biznisa, vol. 8 (1), pp. 101-113.
9. Katchova, A. L., Enlow, S. J. (2013): Financial performance of publicly-traded agribusinesses, Agricultural Finance Review, vol. 73 (1), pp. 58-73, available on: http://ageconsearch.umn.edu/bitstream/164518/2/Agribusiness%20Financial%20Performance.pdf
10.Marković, K. (2007): Transformacija Zajedničke agrarne politike Evropske Unije i implikacije na poljoprivredu Srbije, doktorska disertacija, Ekonomski fakultet Subotica, Subotica.
11. Martini, R. (2011): Long Term Trends in Agricultural Policy Impacts, OECD Food, Agriculture and Fisheries Papers, No. 45, OECD Publishing, pp. 1-102, available on: www.oecd-ilibrary.org/docserver/download/5kgdp5zw179q.pdf?expires=1408612555&id=id&accname=guest&checksum=80034D2A25F3621EFA0EE45F863B3AFA
12.Ministarstvo fnansija Republike Srbije (2012, July 13), available on: www.mfp.gov.rs/pages/issue.php?id=1578
13.Mondelli, M. P. (2012): The Determinants of External Private Equity Financing in Agricultural Production Businesses, 27th International Conference of Agricultural Economists, Proceedings, Foz do Iguaçu, Brazil, pp. 1-27, available on: http://ageconsearch.umn.edu/bitstream/127135/2/Mondelli_2012_Determinants%20External%20Equity%20Finance%20in%20Agriculture_IAAE_AgEconSearch.pdf
14.Morgan, W., Cotter, J., Dowd, K. (2011): Extreme Measures of Agricultural Financial Risk, Quantitative fnance, Vol. 4, pp. 1-39, available on: http://arxiv.org/ftp/arxiv/papers/1103/1103.5962.pdf
15.Nacionalna agencija za regionalni razvoj (2012): Uticaj fnansijske krize na poslovne performanse preduzeća po privrednim granama - komparativna analiza Srbije, Hrvatske i Slovenija, Beograd, available on: http://narr.gov.rs/index.php/content/download/1604/8664/fle/Uticaj%20fnansijske%20krize,%20web.pdf
16. OToole, C., Newman, C., Hennessy, T. (2014): Financing Constraints and Agricultural Investment: Effects of the Irish Financial Crisis, Journal of Agricultural Economics, vol. 65(1), pp. 152-176, available on:http://onlinelibrary.wiley.com/doi/10.1111/1477-9552.12027/pdf
17.Pejanović, R., Milanović, M., Cvijanović, D. (2006): Transition of agriculture in the Republic of Serbia, Ekonomika poljoprivrede, IAE Belgrade, vol. 53 (4), pp. 937-946.
18.Pietola, K., Myyra, S., Heikkila, A. (2011): The penetration of fnancial instability in agricultural credit and leveraging, Centre for European Policy Studies (Brussels, Belgium), Factor Markets (Project), No. 2, pp. 1-20, available on: http://ceps.be/book/penetration-fnancial-instability-agricultural-credit-and-leveraging
19.Popović, V., Katić, B. (2007): Nivo i struktura interne podrške poljoprivredi Srbije u procesu pristupanja STO i EU, monografja, IEP, Beograd.
20.Radović, G. (2009):Podrška države u funkciji fnansiranja poljoprivrede, Agroekonomika, vol. 38 (41-42), pp. 69-79.
21.Radović, G. (2011): Model tranzicije slovenačke poljoprivrede, Škola biznisa, vol. 8 (1), pp. 101-113.
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Published
2014-09-30
How to Cite
Veselinović, B., & Drobnjaković, M. (2014). QUALITATIVE AND QUANTITATIVE ANALYSIS OF MICRO AND MACRO ASPECTS OF AGRICULTURAL FINANCE. Economics of Agriculture, 61(3), 771–787. https://doi.org/10.5937/ekoPolj1403771V
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Review articles
