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2011 | nr 38 | 99--108
Tytuł artykułu

Subsidized Agricultural Credit as a Tool for Revitalization of Agricultural Enterprise

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The profound changes that have affected agricultural systems worldwide in recent years have attracted the attention of policy makers to issues concerning the access to risk capital. The process of globalization and the substantial changes in the regulatory system created in the lending sector have created a profound change in the competitive profile of the financial sector, developing a network of financial intermediation able to adopt management models, as well as dynamic and flexible organiza tion orders. Simultaneous to these events, the regulatory framework governing agricultural credit has undergone profound changes, especially after the adoption of EU directives on the subject of Banking outlined in the Banking Act (TUB) in 1993 and the Basilea 2 Agreements, consisting of numerous implementation regulations of central banks, formally entering into force on January 1, 2007. With the Basilea 2 Agreement the effects in the agricultural sector have been and will be manifold: a depersonalization between banks and enterprises has taken place. The "banking relationship" can use a range of information so vast that it can greatly reduce the problem of asymmetric information and, consequently, creates conditions for more stable and profitable financing. In this context, the farmer needs to be more careful when giving information and get used to establishing an ongoing relationship with their banking partner. In fact, the farmer will be required to use more skill and accuracy in the preparation of investment plans (business plans, budgets, etc) to improve his credit rating. In addition, the new model of agricultural enterprise needs to treat its "image" with care and the use of credit must be proper. The banks, in order to avoid the problem of depersonalization will develop a relationship-oriented policy and will reinforce relationships of trust with customers; and for this reason they will have to adapt to regulatory changes and revise the way they operate and the way they provide guarantees. (original abstract)
Autor koncentruje się na problemach finansowania rolnictwa, zwłaszcza zaś jego kredytowania. Nowe regulacje Unii Europejskiej oraz umowy "Bazylea 2" mają: ułatwić dostęp do kapitału, ustalić ramy prawne regulujące kredyty rolne, zagwarantować stabilność i rentowność finansowania rolnictwa.
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  • University of Messina, Italy
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