In this paper we estimate the impact of agricultural subsidies granted under the European Union's Common Agricultural Policy (CAP) on bank loans extended to farms. According to our theoretical analysis, subsidies may either stimulate or crowd out bank loans depending on the timing of subsidies,...

This study examines technical efficiency and productivity growth of Greek livestock farms participating in the 1994 European Union Farm Credit Program (1994-EU-FCP), i.e. regulation 2328/91. The farm-level economic data set used in this paper consists of two different groups of livestock farms,...

The financing of the Romanian agriculture and rural space through the SAPARD program created the technical and financial premises necessary for the process of accession to the European structures. Thus, the funds developed through the SAPARD Agency have directly contributed to the economic and...