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.


Issue Date:
2011-10
Publication Type:
Working or Discussion Paper
DOI and Other Identifiers:
ISBN-13: 978-94-6138-140-8 (Other)
PURL Identifier:
http://purl.umn.edu/117489
Total Pages:
12
Note:
Factor Markets Coordination: Centre for European Policy Studies (CEPS), Brussels, Belgium
Series Statement:
Factor Markets Working Papers
No. 8




 Record created 2017-04-01, last modified 2017-08-26

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