Rural development and financial markets in Romania |
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Authors: | Franz Heidhues Gertrud Schrieder |
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Institution: | (1) University of Hohenheim, Germany |
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Abstract: | In the transition from a centrally planned to a market-oriented economy, such as in Romania, the domestic financial market
plays two important roles. First, the financial market itself must be fundamentally restructured. Second, its efficient functioning
is a crucial precondition for economic transformation. In transition economies, however, financial market institutions tend
to concentrate their services on urban or larger rural enterprises. So far, small rural enterprises, even those with profitable
investment plans, often do not have access to the financial market. This paper briefly characterizes the key issues of agricultural
production units and their institutional environment and analyzes the depth and the efficiency of rural finance and its effect
on Romania's rural economic transformation. It concludes with policy and institutional recommendations to strengthen rural
finance. |
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