@article{Janda:293445,
      recid = {293445},
      author = {Janda, Karel},
      title = {CREDIT RATIONING UNDER ASYMMETRIC INFORMATION AND THE FUND  OF GUARANTEES FOR AGRICULTURE AND FORESTRY},
      address = {1994-05},
      number = {2251-2019-3835},
      series = {70},
      pages = {44},
      year = {1994},
      abstract = {There exist many different programs for government support  of agricultural 6reclji arciund the world. Many of these  programs are specified for special purposes such as the  support,pf environmentally friendly farming, or for the  support of young farmers. But a gre4proportion of the  government money for the support of agricultural credit  goes to general programs aimed just at financing  agricultural activities. • : - In a majority of these  general purpose programs of government support for  agricultural and small business credit in the U.S.A. and  Western European countries, there is the condition that  these programs are intended for borrowers who do not  qualify for ordinary commercial loans. In some of these  programs the applicant for the subsidized loan has to show  that his loan application was rejected by a commercial  bank. The government support for agriculture is in this way  strictly targeted toward the most disadvantaged farmers.  The Czech programs administered by the Fund of Guarantees  for Agriculture and Forestry (Fund of Guarantees) are in  sharp contrast with this approach of targeting credit  support. Of course, there exist a number of conditions to  determine the eligibility of a farmer for support by the  Fund of Guarantees. Primarily, in order to be considered  for support, the agricultural enterprise has to have  settled all the restitution and transformation liabilities,  and there are further conditions elaborated in the program  guidelines Tokyny pro poskytovani garance a dotace  prostrednictvim', PGRLF (1994). However, there is no  special emphasis on targeting the support towards a special  group of farmers, who are rejected by commercial banks. The  aim of this paper is to provide the possible theoretical  rationale and justification of such a.nondiscriminating  policy and of the credit guarantee approach to government  support of agricultural credit markets.},
      url = {http://ageconsearch.umn.edu/record/293445},
      doi = {https://doi.org/10.22004/ag.econ.293445},
}