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Abstract
The existence of an appropriate institutional framework pertaining to the financial
system in agriculture, that will support efficient financial mediation, reduce
transaction costs, and facilitate the farmers’ access to loaned capital on favourable
terms, is considered to be an essential step as regards the course of competitiveness in
Greek agriculture. This paper is based on an empirical study on a sample of farmers.
The aim of this research study is to examine the farmers’ satisfaction with current
structures and services related to agricultural credit, as provided in Greece at present.
On a second level, this objective of this paper is to develop a typology of farmers,
based on their satisfaction structures (by a methodological scheme based on Principal
Axes Factoring (PAF), Hierarchical and K-Means Cluster Analysis). The results of
this typology will allow for conclusions and proposals to be deduced, regarding the
potential for improving agricultural credit, with the growth of the agricultural sector
as the ultimate aim. The PAF highlighted five factors-dimensions that can be used to
analyze the farmers’ satisfaction with agricultural credit. The first and most important
factor is linked to the financial terms of credit and to transaction costs. The second
focuses on the human aspect of services, on facilities and equipment. The third factor
pertains to the possibility of receiving such services on a personal basis. The fourth is
linked to the terms of lending, and the fifth factor exclusively defines the particular
properties of agricultural credit.