A microeconometric analysis of credit rationing in the Polish farm sector
The objective of this paper is to investigate credit rationing of Polish farms. The analysis is based on cross-section survey data and motivated by a microeconomic farm household model. The results suggest that more than 40 per cent of borrowers experience pronounced credit rationing by rural banks. Credit-rationed households display an average marginal willingness to pay for short-term credit of 209 per cent net of principal. Furthermore, household variables have a significant effect on output supply. Demographic characteristics and a lack of collateral are major determinants of credit rationing. Public interest rate subsidisation contributes little to alleviate rationing of farms. Copyright 2004, Oxford University Press.
Year of publication: |
2004
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Authors: | Petrick, Martin |
Published in: |
European Review of Agricultural Economics. - European Association of Agricultural Economists - EAAE, ISSN 1464-3618. - Vol. 31.2004, 1, p. 77-101
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Publisher: |
European Association of Agricultural Economists - EAAE |
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