The conditionings of the credit market in agriculture. The macroeconomic approach
Abstract
In this paper we have evaluated the relationship of the credit market to the agricultural sector. The weakness of appropriate resource allocation from the credit market has been emphasized. We paid attention both to the external environment of agriculture itself, as well as to the way it has been shaped as a result of the process of globalization. The effect was examined of the influence of particular macroeconomic indicators adjusted according to the range of the interest rate as a result of change in the price of agricultural products. The period of the research covered the years 1990-2010. A discussion was carried out to allow for the setting apart of factors that influenced conditions which shaped the cost of financial loans and credit. The character of dependencies or related factors were analysed. The different significance of individual accounts was shown.
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Barry P.J., Bierlen R.W., Sotomayor N.L., 2000, Financial structure of farm businesses under imperfect capital markets, “American Journal of Agricultural Economics”, vol. 82, s. 920–933.
Bekaert G., Harvey C.H., Lundblad C., 2005, Does financial liberalization spur growth?, “Journal of Financial Economics”, vol. 77, s. 3–56.
Bhattacharyya A., 1996, Government Interventions, Market Imperfections, and Technical Inefficiency in a Mixed Economy: A Case Study of Indian Agriculture, “Journal of Comparative Economics”, vol. 22, s. 219–241.
Cashina P., Ce´spedes L.F., Sahay R., 2004, Commodity currencies and the real exchange rate, “Journal of Development Economics”, vol. 75, s. 239–268.
Ciaian P., Swinnen J.F.M., 2009, Credit Market Imperfections and the Distribution of Policy Rents, “American Journal of Agricultural Economics”, vol. 91, no. 4, s. 1124–1139.
Czyżewski A., Kułyk P., 2009, Relacje między otoczeniem makroekonomicznym a rolnictwem w warunkach zmiennej koniunktury gospodarczej w UE-15 i Polsce w latach 1990-2008 [w:] Makroekonomiczne uwarunkowania rozwoju gospodarki żywnościowej, A. Borowska, A. Daniłowska (red.), Warszawa, Wydaw. SGGW, s. 7-19.
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Galindo A., Micco A., Ordoñez G., 2002, Financial liberalization: does it pay to join the party?, “Economia”, vol. 3, no. 1, s. 231–261.
Galindo A., Schiantarelli F., Weiss A., 2007, Does financial liberalization improve the allocation of investment? Micro-evidence from developing countries, “Journal of Development Economics”, vol. 83, s. 562–587.
Henderson J., 2009, Crisis in U.S. Financial Markets–Spillover and Recovery Prospects in Rural America: Discussion, “American Journal of Agricultural Economics”, vol. 91, s. 1209–1210.
Hughes D.W., Penson J.B., Bednarz C.R., 1984, Subsidized Credit and Investment in Agriculture: The Special Case of Farm Real Estate, “American Journal of Agricultural Economics”, vol. 66, s. 755-760.
Kata R., 2010, Problem wykorzystania kredytu bankowego w finansowaniu rolnictwa w Polsce i innych krajach Unii Europejskiej, Oeconomica vol. 9, no. 3, s. 145-156.
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Latruffe L., 2005, The impact of credit market imperfections on farm investment in Poland, “Post-Communist Economies”, vol. 17, s. 350–362.
Nicita A., 2009, The price effect of tariff liberalization: Measuring the impact on household welfare, “Journal of Development Economics”, vol. 89.
OECD, Agricultural Support, Farm Land Values and Sectoral Adjustement, Paris 2008.
Petrick M., 2004, Farm investment, credit rationing, and governmentally promoted credit access in Poland: a cross-sectional analysis, “Food Policy”, vol. 29, s. 275–294.
Saghaian S.H., Reed M.R., Marchant M.A., 2002, Monetary Impacts and Overshooting of Agricultural Prices in an Open Economy, “American Journal of Agricultural Economics”, vol. 84, no. 1, s. 90–103.
Shane M.D., Liefert W.M., 2000, The International Financial Crisis: Macroeconomic Linkages to Agriculture, “American Journal of Agricultural Economics”, vol. 82, s. 682-687.
Stannoulis K.G., Chalfant J.A., Rausser G.C., 1985, Monetary Policies and the Overshooting of Flexible Prices: Implicators for Agricultural Policy, Paper presented at the annual meeting of the American Agricultural Economics Association, Ames.
www.oecd.org/dataoecd (dostęp: 10.03.2013).
www.worldbank/database (dostęp: 10.03.2013).
How to Cite
KUŁYK, Piotr.
The conditionings of the credit market in agriculture. The macroeconomic approach.
Progress in Economic Sciences, [S.l.], n. 1, aug. 2014.
ISSN 2391-5951.
Available at: <http://pne.pwsz.pila.pl/index.php/PES/article/view/18>. Date accessed: 01 feb. 2026.
doi: https://doi.org/10.14595/PIES/01/012.
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Articles
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