Agricultural Transformation and Implications for Designing Rural Financial Policies in Romania

CERT Discussion Paper No. 97/22

29 Pages Posted: 27 Feb 1998

See all articles by Franz Heidhues

Franz Heidhues

University of Hohenheim

Junior R. Davis

Heriot-Watt University

Gertrud Buchenrieder

University of the German Federal Armed Forces - Universität der Bundeswehr München

Date Written: November 1997

Abstract

In the context of Romania's macroeconomic and agricultural transformation, this paper analyses the current extent of the depth of rural finance and discusses the implications for the future development of rural financial markets in Romania. The overall agricultural support system is reviewed with particular emphasis on mechanisms of rural finance. The paper argues that building an efficient rural finance system that addresses the financial needs of private sector agriculture and the rural clientele requires a multi-level approach: Innovations are needed at the finance system level, involving, in particular, the creation of an effective regulatory and supervisory framework and making the National Bank of Romania (the central bank) independent of Government interference, at the level of financial organisations, in the processing and administration of financial services and in product design.

JEL Classification: O16, P32, Q14

Suggested Citation

Heidhues, Franz and Davis, Junior R. and Buchenrieder, Gertrud, Agricultural Transformation and Implications for Designing Rural Financial Policies in Romania (November 1997). CERT Discussion Paper No. 97/22, Available at SSRN: https://ssrn.com/abstract=61113 or http://dx.doi.org/10.2139/ssrn.61113

Franz Heidhues

University of Hohenheim ( email )

(490a)
D-70593 Stuttgart
Germany
+49 (0) 771-459-2581 (Phone)
+49 (0) 771-459-2582 (Fax)

Junior R. Davis (Contact Author)

Heriot-Watt University

Gertrud Buchenrieder

University of the German Federal Armed Forces - Universität der Bundeswehr München

Werner-Heisenberg-Weg 39
Neubiberg, 85579
Germany

HOME PAGE: http://www.unibw.de

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