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Governance control mechanisms in Portuguese agricultural credit cooperatives

Cabo, Paula; Rebelo, João
Fonte: Instituto Politécnico de Bragança Publicador: Instituto Politécnico de Bragança
Tipo: Conferência ou Objeto de Conferência
ENG
Relevância na Pesquisa
56.4%
Over the last decade Portuguese Agricultural Credit Cooperatives (ACCs) have increasingly face survival challenges related to their difficulty in gathering equity. The main source of ACCs equity is the net benefit; thus, understanding how ACCs governance can work on correcting bad economic performance is of crucial importance to overcome this constraint. The main objective of this paper is to describe the governance control mechanisms in the ACCs. Five governance mechanisms are identified: board and chairman change (internal mechanisms), central ACC intervention by an agent or by management board replacement and merger. Empirical analysis proved that the internal governance mechanisms activity is not related to the ACC performance. Additionally: (a) ACCs with a central ACC agent and merged ACCs hold a weaker credit management and a heavy administrative costs structure and profitability problems; and (b) ACCs with a management board replacement by the central ACC hold a weaker credit management and present solvency problems.

Why do agricultural credit cooperatives merge? The portuguese experience

Cabo, Paula; Rebelo, João
Fonte: Wiley Publicador: Wiley
Tipo: Artigo de Revista Científica
ENG
Relevância na Pesquisa
56.43%
Over the last decade, increasing financial problems in the Portuguese Agricultural Credit Cooperatives (ACCs), mainly difficulty in gathering equity, have forced them to pursue an intensivemerger activity. This paper describes the economic reasons that have led the ACCs to merge, and analyses the ex post merger impact on their economic performance. The results show that: (a) incorporating ACCs are larger, more profitable and hold a better credit management; (b) incorporated ACCs are smaller, face difficulties in reaching a minimum efficient scale and have weaker credit management as well as leverage problems; and (c) merged ACCs have a heavy administrative cost structure and also face profitability problems. Regarding the mergers’ ex post impact on the ACCs performance, we find no positive influence on cost reduction, credit management and solvency ratio.

Why do credit co-operatives disapear: the determinants of portuguese credit co-operatives failure

Cabo, Paula; Rebelo, João
Fonte: Instituto Politécnico de Bragança Publicador: Instituto Politécnico de Bragança
Tipo: Artigo de Revista Científica
ENG
Relevância na Pesquisa
56.55%
Purpose – The paper aims to identify “problematic” agricultural credit co-operatives (CCAM) and to evaluate their risk of insolvency as a function of financial indicators, providing regulators and other stakeholders with a set of tools that would be predictive of future insolvency and perhaps bankruptcy. Design/methodology/approach – Using a database of CCAM failures in the period between 1995 and 2009, statistical models of failure of CCAM, are estimated and compared, using logistic regression analysis and multiple discriminant analysis for assessing the potential failure of CCAM as a function of financial/economical indicators. Findings – The paper identified the variables customer resources growth, transformation ratio, credit overdue, expenses ratio, structural costs, liquidity, indebtedness and financial margin as determinants of CCAM failure. It suggests that CCAM take measures geared to boosting business, to shoring up the financial margin and the deposit base, to bolstering the complementary margin and to improving the credit recovery processes. Additionally it is necessary to increase cost efficiency, rationalizing structures and procedures consistent with reducing operating costs without detriment to the quality of service provided. Originality/value – This paper helps to understand why agricultural credit co-operatives fail.

Os Bancos de Custeio Rural e o crédito agrícola em São Paulo (1906-1914); The Bancos de Custeio Rural and the agricultural credit in São Paulo (1906-1914)

Corrêa, Fábio Rogério Cassimiro
Fonte: Biblioteca Digitais de Teses e Dissertações da USP Publicador: Biblioteca Digitais de Teses e Dissertações da USP
Tipo: Dissertação de Mestrado Formato: application/pdf
Publicado em 16/09/2014 PT
Relevância na Pesquisa
66.66%
O sistema de financiamento da cafeicultura evoluiu no processo da transição do trabalho escravo para o livre, ocasionando o aumento da demanda do crédito para o custeio anual da safra sobre os empréstimos de longo prazo exigidos durante o regime escravista. Por outro lado, a crise dos preços do café ocorrida entre 1896 e 1906 evidenciou as limitações do sistema de financiamento existente que estava baseado nos adiantamentos fornecidos por comerciantes. As novas necessidades de crédito e o crescente clima de descontentamento com os mecanismos comerciais de financiamento acabariam por suscitar propostas de intervenção do Estado com políticas de crédito agrícola a serem organizadas ou subsidiadas pelo governo do Estado de São Paulo e que viriam a ser concretizadas na esteira do programa de valorização do café, adotado em 1906. Tais intervenções incluiriam a criação de bancos agrícolas e o incentivo às cooperativas rurais de crédito, das quais os chamados Bancos de Custeio Rural são os primeiros experimentos desse tipo no estado e constituem nosso objeto de estudo. Os Bancos de Custeio Rural formaram uma rede de cooperativas de crédito, que atuou entre 1906 e 1914 no interior do estado de São Paulo. Esses bancos emprestavam apenas aos fazendeiros associados o valor demandado no financiamento anual da lavoura. Tendo surgido no contexto da crise cafeeira de 1896-1906...

Cara e coroa: O PRONAF B e os impactos na ocupação rural do município de Ceará-Mirim

Maia, Márcio Monteiro
Fonte: Universidade Federal do Rio Grande do Norte; BR; UFRN; Programa de Pós-Graduação em Ciências Sociais; Desenvolvimento Regional; Cultura e Representações Publicador: Universidade Federal do Rio Grande do Norte; BR; UFRN; Programa de Pós-Graduação em Ciências Sociais; Desenvolvimento Regional; Cultura e Representações
Tipo: Dissertação Formato: application/pdf
POR
Relevância na Pesquisa
46.59%
The present work deals with study on the National Program of Reinforcement of Familiar Agriculture, Group B, referring it offers of agricultural credit the agriculturists who possess familiar prescription until R$ 2,000, 00, and its impact in the agricultural occupation of the city of Ceará-Mirim. From theoretical referencial regarding the agricultural occupation, it collects of data, application of questionnaires between the beneficiaries of PRONAF B and interviews with the involved actors, it was made possible ascertainment of the hypothesis of that the program in this modality of credit, is capable to provide only to the maintenance or diversification of the occupation in the familiar unit and not it generation of remunerated occupation not familiar. This research disclosed to the diverse possibilities of use of the credit and its impact in the agricultural occupation, exactly when it is deviated for other purposes not waked up next to the financial institution, generating impacts not waited, however positive. When destined to the waked up end, still new forms appear of way occupation to complement it the deriving familiar prescription of the main activity. Unable to discard the rise even though very small and informal, non-family gainful occupation. The knowledge is added of that exactly ahead of the easinesses of access to the social base of the program...

After the Microfinance Crisis : Assessing the Role of Government-Led Microcredit Alternatives

de la Torre, Jordi; Giné, Xavier; Vishwanath, Tara
Fonte: Banco Mundial Publicador: Banco Mundial
Relevância na Pesquisa
46.77%
In light of the recent microfinance crisis in South India, government-run institutions in general, and primary agricultural credit cooperatives in particular, may end up playing a larger role in the provision of financial services for the poor. Using survey data collected in 2007 from three districts in Andhra Pradesh, this paper assesses the performance of 72 primary agricultural credit cooperatives and finds lack of training among the management. In addition, primary agricultural credit cooperatives tend to be used as political instruments and, as a result, borrowers prioritize all debt obligations (microfinance institutions, informal lenders, etc.) before repaying their primary agricultural credit cooperative loans. The authors suggest that if the performance of primary agricultural credit cooperatives does not improve, a larger government role in the supply of credit may undermine the culture of repayment.

Subsidies as an Instrument in Agriculture Finance : A Review

Meyer, Richard L.
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
EN_US
Relevância na Pesquisa
46.84%
This paper presents a literature review of issues related to recent subsidies and investments in the financial sector that have been designed to address the immediate effects of the crises and to develop the financial institutions necessary to modernize agriculture. Section two of the paper discusses the impact of recent food, fuel, and financial crises on developing countries and the emergency actions taken by countries and international agencies to reduce the suffering inflicted on poor people. It also discusses the challenge of finding a balance between pragmatic immediate responses and longer-term objectives. The third section discusses the role of finance in agricultural development and poverty alleviation. Section four deals with the challenge of creating credit markets in developing countries. The fifth section covers shifts in the paradigm used to intervene in credit markets and summarizes the main features of the old directed-credit and the new financial systems paradigms. This is followed by a sixth section that summarizes highlights in the development of the microfinance industry. It covers guidelines created for developing microfinance...

Colombia - Rural Finance : Access Issues, Challenges and Opportunities

World Bank
Fonte: Washington, DC Publicador: Washington, DC
EN_US
Relevância na Pesquisa
46.64%
The history of rural - mostly agricultural - finance in Colombia, is characterized by a system which channels benefits to limited numbers of beneficiaries, at the expense of the public sector, and the economy as a whole. A legacy of powerful agricultural lobbies (coffee, livestock) has translated into sector-biased legislation, that established the "Sistema Nacional de Credito Agropecuario" (National Agricultural Credit System), and related institutions. Nonetheless, current agricultural policies send mixed signals in terms of the degree of protection vs. subjection to market forces producers can expect, thus preventing the development of a profitable, and competitive agriculture. Against this background, the advent of a new administration faced a rather dangerous policy juncture, as the pressure to tackle poverty in rural areas, coincides with severe fiscal, and public debt constraints. The Government however, has now the opportunity to build substantive reforms in the financial sector, enacted under previous regimes. The study found that access to financial services in rural Colombia is limited and segmented...

Tunisia Agricultural Finance Study : Main Summary Report

World Bank
Fonte: Washington, DC Publicador: Washington, DC
EN_US
Relevância na Pesquisa
56.81%
The Tunisia agricultural finance study was carried out in response to a request made in December 2009 by the Tunisian Ministry of Agriculture (MoA) for support for a study on the key constraints in agricultural finance. Technical and financial support was specifically requested for: (i) a comprehensive diagnostic analysis of the current mechanisms and problems of financing of the agricultural sector in Tunisia, including those by financial institutions and from budget resources, foreign direct investment, and insurance; (ii) a comparison of the Tunisian experience with successful experiences made in other comparable countries; and (iii) the formulation of concrete proposals. The diagnostic part was also requested to include the regulations pertaining to agricultural credit, other constraints impeding the development of agricultural finance, such as costs, profitability, professional organizations, extension services, research etc., and to look at the indebtedness of smallholders. It was also requested that the recommendations help to: (i) better define the objectives to be achieved in terms of financing of agriculture; (ii) increase the participation of the financial sector in financing agriculture; (iii) help identify need for support by different types of farmers; (iv) identify new instruments geared at qualitative and technological changes; (v) reduce the indebtedness of farmers; and (vi) help improve the subsidies for agricultural investment. There are two main written outputs of the Tunisia agricultural finance study. The experts working on the study have compiled a great deal of detailed background information diagnosing the current situation...

The Kyrgyz Republic : Farm Mechanization and Agricultural Productivity

Guadagni, Maurizio; Fileccia, Turi
Fonte: World Bank, Washington, DC and FAO, Rome Publicador: World Bank, Washington, DC and FAO, Rome
EN_US
Relevância na Pesquisa
46.81%
This policy note reviewed the status of farm machinery in the Kyrgyz Republic. Agricultural productivity, particularly in terms of grain yields, is low because of underinvestment. This note finds that a significant deficit in agricultural machinery is hindering sector productivity. The Kyrgyz Republic has fewer tractors per hectare than any comparable country, with a deficit estimated at 40 percent. The deficit of combine harvesters, estimated at 45 percent, is even more critical. When the age of agricultural machinery is taken into account, the underinvestment becomes even more acute. The reduced domestic production of wheat exacerbates food security concerns. Inadequate access to credit and small farm size are the main factors that constrain farm mechanization. The policy note presents three sets of short- to medium-term policy options to: i) promote the demand for farm machinery, by developing credit lines for agricultural productive assets, leasing, facilitating access to secondhand equipment, and testing/demonstrating the efficiency of farm machinery for small-scale farming; ii) increase the supply of farm machinery...

Republic of Senegal Basic Agricultural Public Expenditure Diagnostic Review

World Bank
Fonte: Washington, DC Publicador: Washington, DC
Relevância na Pesquisa
46.55%
This basic Agricultural Public Expenditure Diagnostic Review (AgPER) analyzes the effectiveness and efficiency of public expenditure in agriculture, livestock production, fishery, rural waterworks, and natural-resource management in Senegal. Agriculture has benefited from major transfers of public resources in the second half of this decade. Presidential initiatives demonstrate the priority it enjoys on the political agenda in Senegal. This review is a complement to the efforts of the Senegalese government to offer the sector inclusive, strong, and sustainable guidelines, strategies, and policies. It covers the work done by the ministries and other public institutions and by the private sector, nongovernmental organizations (NGOs), and associated agencies.

Innovative Agricultural SME Finance Models

Global Partnership for Financial Inclusion; International Finance Corporation
Fonte: International Finance Corporation, Washington, DC Publicador: International Finance Corporation, Washington, DC
Tipo: Trabalho em Andamento
EN_US
Relevância na Pesquisa
46.8%
This report is organized into three main sections. Section one sets out the context by describing the particular challenges and opportunities related to financing agriculture, followed by defining the target group of agricultural SME s. Section two describes a set of innovative financing models. Section three then provides a framework for an indicative assessment of these models by gathering and forming observations from the case studies. The model observations are then highlighted in three types of country contexts in which bankers in developing countries may find themselves. Preliminary assessment results are presented. The report concludes with key lessons learned on innovative agricultural financing, relevant case studies, and an outlook on further work in this area. Annexes present methodologies and case studies representing the various models.

Agricultural Insurance in Bangladesh : Promoting Access to Small and Marginal Farmers

World Bank
Fonte: Washington, DC Publicador: Washington, DC
Tipo: Economic & Sector Work :: Other Financial Sector Study; Economic & Sector Work
ENGLISH; EN_US
Relevância na Pesquisa
46.62%
Bangladesh is ranked as the world's fifth most exposed country to natural disasters, including floods, cyclones, and droughts. The purpose of this study is to investigate the viability of agricultural insurance in Bangladesh, particularly for small and marginal farmers and to present the Government of Bangladesh (GoB) with a set of options for the future development of agricultural insurance in the country. The current study aims to identify an overall framework for the development of sustainable market-based agricultural insurance in Bangladesh. It also reviews the technical, operational, financial, and institutional issues and options for the introduction of traditional crop and livestock insurance products and for new crop-index products that are suitable to Bangladeshi farmers. This report present a series of practical guidelines and options for GoB and other interested parties to consider for the future development and implementation of crop, livestock and aquaculture insurance in Bangladesh. This study benefits from this international experience (for example...

Rural Financial Services : Implementing the Bank's Strategy to Reach the Rural Poor

World Bank
Fonte: Washington, DC Publicador: Washington, DC
Tipo: Economic & Sector Work :: Rural Development Assessment; Economic & Sector Work
ENGLISH; EN_US
Relevância na Pesquisa
46.68%
This paper discusses rural finance aspects of the World Bank's rural development strategy, "Reaching the Rural Poor" (see report no. 26763) by giving an overview of recent implementation experience, discussing current issues, and highlighting priorities for the future. The primary objective is to articulate how the Bank views current best practices in rural finance and attempts to incorporate them into its operations, as a common frame of reference for policymakers in client countries, Bank staff, and other donor agencies. In the process, it provides some operational guidance on the types of instruments suited to different circumstances, although it is not intended as a toolkit for project design. Four sections make up this report. Section II explores the characteristics of rural financial markets and constraints to their development, analyzes why the traditional paradigm of directed agricultural credit was replaced by a financial systems approach, and explains how this new paradigm is incorporated into institutional policies. Section III reviews recent implementation experience of Bank RMF operations and emerging issues. Section IV develops approaches for strengthening implementation of the Bank's strategy for rural financial market development at the levels of macro policies...

Myanmar Agricultural Development Bank : Initial Assessment and Restructuring Options

World Bank
Fonte: Bangkok Publicador: Bangkok
Tipo: Publications & Research :: Working Paper; Publications & Research
ENGLISH; EN_US
Relevância na Pesquisa
46.79%
Myanmar is an agricultural country. It is estimated that the agriculture sector represents between 35 to 40 percent of gross domestic product (GDP) and that up to 70 percent of the labor force (of 32.5 million) is directly or indirectly engaged in agricultural activities or depend on agriculture for their income. Given agriculture's important contribution to the economy, the modernization of the agriculture sector is a top priority in the economic and social development agenda of the Government of Myanmar. Among the government institutions supporting the agriculture sector, the Myanmar Agriculture Development Bank (MADB) plays an important role. MADB was established in June 1953 by the Government of Myanmar to support the development of agriculture, livestock, and rural enterprises in Myanmar. MADB is currently the largest financial institution serving the rural areas and financing agriculture activities. At the end of 2012, MADB served 1.87 million customers, mostly farmers, and had a network of 206 branches (which accounted for 23 percent of all banks' branches in Myanmar). Since its creation...

The Impact of Farm Credit in Pakistan

Khandker, Shahidur R.; Faruqee, Rashidur R.
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Publications & Research :: Policy Research Working Paper
EN_US
Relevância na Pesquisa
46.71%
Both formal, and informal loans matter in agriculture. But formal lenders provide much more in production lending, than do informal lenders, often at a higher cost than what they can recover. The Agricultural Development Bank of Pakistan (ADBP), for example, providing about 90 percent of formal loans in rural areas, incurs high costs on loan defaults. Like other governments, the Government of Pakistan subsidized the formal scheme on the grounds that lending to agriculture is a high-risk activity, because of covariate risk. Because farm credit schemes are subsidized, policymakers must know if these schemes are worth supporting. Using recent data from a large household survey from rural Pakistan, the authors estimate the cost-effectiveness of the ADBP loans. To estimate credit's impact, they use a two-stage method, which takes into account the endogeneity of borrowing. Clearly, formal lenders are biased toward larger farmers with collateral. Large landowners, who tend to represent only four percent of rural households, get 42 percent of formal loans. Landless, and subsistence farmers, who represent more than 69 percent of rural households, receive only 23 percent of formal loans. ADBP loans improve household welfare but, although large farmers receive most of ADBP finance...

The Adoption of agricultural credit cooperativism in Spain (1890-1935) : solidarity from below?

Martínez Soto, Ángel; Martínez Rodríguez, Susana
Fonte: Universitat Autònoma de Barcelona. Unitat d'Història Econòmica Publicador: Universitat Autònoma de Barcelona. Unitat d'Història Econòmica
Tipo: Trabalho em Andamento Formato: application/pdf
Publicado em //2008 ENG
Relevância na Pesquisa
56.4%
The spread of agrarian credit cooperativism in Spain (1890-1934) was done under a variety of ideological and economic orientations. This article focuses on the construction of a few tools and indicators to explain the characteristics of agricultural credit cooperatives. An analysis of financial operations of rural savings banks is related with socio-political aspects that influenced their development; This analysis helps us to explain the relative success of German credit cooperative models adopted in the context of Spanish agriculture, as happened on European periphery.

Kenya; Agricultural Sector Risk Assessment

D’Alessandro, Stephen P.; Caballero, Jorge; Lichte, John; Simpkin, Simon
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Report; Economic & Sector Work :: Other Agriculture Study; Economic & Sector Work
ENGLISH; EN_US
Relevância na Pesquisa
46.6%
Despite myriad challenges, Kenya has emerged in recent years as one of Africa’s frontier economies, with headline growth in the most recent decade propelling the country toward middle-income status. Less well understood is how risk dynamics associated with production, markets, and policy adversely impact sector performance, in terms of both influencing ex ante decision making among farmers, traders, and other sector stakeholders and causing ex post losses to crops, livestock, and incomes - destabilizing livelihoods and jeopardizing the country’s food security. The present study was commissioned in part to bridge this knowledge gap. It is the first step in a multiphase process designed to integrate a stronger risk focus into sector planning and development programs. It seeks to learn from and build on a range of broad initiatives by the Government of Kenya (GoK) and its development partners purposed to enhance Kenya’s resilience and response to natural disasters. The ultimate objective is implementation of a holistic and systematic risk management system that will reduce the vulnerability and strengthen the resiliency of Kenya’s agricultural supply chains...

Paraiba State, Brazil; Agricultural Sector Risk Assessment

Arias, Diego; Caballero, Jorge
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Report; Economic & Sector Work :: Other Agriculture Study; Economic & Sector Work
ENGLISH; EN_US
Relevância na Pesquisa
46.61%
This report is comprised of two volumes: (i) volume one: risk assessment; and (ii) volume two: risk management strategy. Volume one continues with chapter one, which characterizes the recent performance of the agriculture sector, including agro-climatic and market conditions. It also identifies the productive systems used for this analysis. Chapter two describes the main risks in the agricultural sector, capturing market, production, and enabling environment risks along the value chains involved in the selected productive system typologies. Chapter three presents the estimations of the aggregate impacts of unmanaged agricultural risk on agricultural losses and production volatility. Chapter four identifies risk profiles for different stakeholders, underlying the different types of risk impacts, and then highlights a vulnerability framework. Finally, chapter five presents a prioritization of risks and proposes a preliminary set of priority risk management measures. A short list of potential solution actions is offered as the starting point for a more in-depth solution analysis to be undertaken during the second phase of the risk assessment. Volume two is composed of four chapters. Chapter one provides a brief discussion on the agricultural risk profile and risk management options (solutions) in Paraiba and an inventory of current programs...

Determinantes dos arranjos contratuais nas transações de crédito agrícola; Determinantes de los arreglos contractuales en las operaciones de crédito agrícola; Determinants of contractual arrangements in agricultural credit transactions

Almeida, Luciana Florêncio de; Zylbersztajn, Decio; Klein, Peter G.
Fonte: Universidade de São Paulo. Faculdade de Economia, Administração e Contabilidade Publicador: Universidade de São Paulo. Faculdade de Economia, Administração e Contabilidade
Tipo: info:eu-repo/semantics/article; info:eu-repo/semantics/publishedVersion; Artigo Avaliado pelos Pares Formato: application/pdf
Publicado em 01/08/2010 ENG
Relevância na Pesquisa
56.4%
Con la reducción de la oferta de créditos subsidiados en el financiamiento de la agricultura brasileña, los agentes económicos en los sistemas agroindustriales se organizan para vincular crédito a sus operaciones de compra y venta con agricultores. Distintos arreglos contractuales se caracterizan por diferentes estructuras de financiamiento. El objetivo de este estudio fue verificar la relación causal entre el tipo de financiamiento utilizado por los productores de soja en Brasil y sus posibles factores determinantes. Dos arreglos fueron elegidos para análisis: la obtención de crédito con los bancos y por medio de las transacciones con agentes de la cadena agroindustrial. Las variables explicativas utilizadas fueron: tamaño de la propiedad, colateral o garantía del contrato y reputación medida en términos de duración de la relación. Como se afirma en la teoría, los resultados demostraron que el tamaño de la propiedad es un factor determinante en las operaciones de crédito entre agricultores y agentes de la cadena agroindustrial. Sin embargo, la relación con el banco público y los colaterales no se mostraron relevantes en el análisis de los factores determinantes de los arreglos contractuales para financiamiento de la soja con agentes del sistema agroindustrial.; Com a redução da oferta do crédito subsidiado no financiamento da agricultura brasileira...