Financial Markets, Credit Constraints, and Investment in Rural Romania
The report assesses the performance of financial markets in rural areas of Romania, based on three - rural household, rural enterprise, and financial intermediary - surveys, carried out in 1998, and other official data covering 1997. The study find...
| Main Authors: | , , , |
|---|---|
| Format: | Publication |
| Language: | English en_US |
| Published: |
Washington, DC: World Bank
2013
|
| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2001/04/1089534/financial-markets-credit-constraints-investment-rural-romania http://hdl.handle.net/10986/13893 |
| id |
okr-10986-13893 |
|---|---|
| recordtype |
oai_dc |
| spelling |
okr-10986-138932021-04-23T14:03:10Z Financial Markets, Credit Constraints, and Investment in Rural Romania Chaves, Rodrigo A. Sanchez, Susana Schor, Saul Tesliuc, Emil MARKET ANALYSIS FINANCIAL MANAGEMENT CREDIT MARKETS CREDIT RESTRAINT INVESTMENT BARRIERS RURAL FINANCE HOUSEHOLD SURVEYS FINANCIAL INTERMEDIATION ACCESSIBLE SERVICES FINANCIAL SERVICES RURAL ECONOMIC DISPARITIES FINANCIAL VOLATILITY INFLATION RATES LEGAL & REGULATORY FRAMEWORK AGRICULTURAL SUBSIDIES POLICY REFORM INTERVENTION STRATEGIES INSTITUTIONAL FRAMEWORK RETAIL MARKETING ACCOUNTING ACCOUNTING RECORDS AGRICULTURE AQUIFERS BANK BRANCHES BANK DEPOSITS BANKING SECTOR BANKING SYSTEM BANKS BOOK VALUE BORROWING CAPITAL ADEQUACY CASH FLOW ANALYSIS CASH FLOWS COLLATERAL COMMERCIAL BANKS COMMERCIAL CREDIT CONSOLIDATED FINANCIAL STATEMENTS CONSOLIDATION CREDIT MARKETS CREDIT RISK DEBT DEPOSITS DEPRECIATION DEVELOPMENT POLICIES DUAL ECONOMY ECOLOGY ECONOMIC REFORM ECONOMIC RESEARCH ECONOMIC SECTORS ECONOMICS EMPIRICAL ANALYSIS EMPIRICAL EVIDENCE EMPIRICAL INFORMATION EMPLOYMENT ENVIRONMENTAL PERFORMANCE EXCHANGE RATE FARMS FINANCIAL INSTITUTIONS FINANCIAL INTEGRATION FINANCIAL INTERMEDIARIES FINANCIAL INTERMEDIATION FINANCIAL MARKETS FINANCIAL PERFORMANCE FINANCIAL SECTOR FINANCIAL SERVICES FINANCIAL TRANSACTIONS FOREST MANAGEMENT FORESTRY GDP GROWTH RATE INCOME INFLATION INFLATION RATE INFLATION RATES INTEREST RATE INTEREST RATES INTERNATIONAL TRADE LIQUIDATION MANAGEMENT INFORMATION SYSTEMS MATURITY NOMINAL INTEREST RATES PER CAPITA INCOME POLICY MAKERS PRIVATE BANKS PRIVATIZATION PRODUCTION COSTS PRODUCTION TECHNOLOGY PROFITABILITY PRUDENTIAL REGULATIONS PUBLIC FINANCE PUBLIC POLICY REGULATORY FRAMEWORK REORGANIZATION RETURN ON ASSETS RETURN ON EQUITY SAVINGS SAVINGS ACCOUNTS STATE BANKING STATE BANKS STATE ENTERPRISES STATISTICAL DATA SUSTAINABLE DEVELOPMENT TRANSACTION COSTS TRANSITION ECONOMIES WAGES WATER PRICING The report assesses the performance of financial markets in rural areas of Romania, based on three - rural household, rural enterprise, and financial intermediary - surveys, carried out in 1998, and other official data covering 1997. The study finds that rural financial markets perform rather poorly in three key dimensions: the degree of access to financial services by rural economic agents (enterprises and households) is very limited; this limited access hinders the ability of these agents to take advantage of the investment opportunities available in rural areas; and, these markets failed to allocate flows of credit to those agents with the most profitable investment opportunities. This poor performance is caused by an unfortunate combination of short term circumstances, structural factors, and government policies, and interventions. In particular, the degree of access to credit services by rural agents is very low, because several factors have combined, to weaken both the supply of, and demand for rural credit. The report suggests a detailed government strategy to correct the observed shortcomings of rural financial markets, and identifies new challenges likely to appear. Moreover, the Government could assist in increasing the availability of credit, by improving policies in financial markets, legal and regulatory framework, and, the ability of the financial sector to provide retail financial services. 2013-06-13T14:46:10Z 2013-06-13T14:46:10Z 2001-04 http://documents.worldbank.org/curated/en/2001/04/1089534/financial-markets-credit-constraints-investment-rural-romania 0-8213-4928-7 http://hdl.handle.net/10986/13893 English en_US World Bank Technical Paper;No. 499 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank Washington, DC: World Bank Publications & Research :: Publication Publications & Research :: Publication Europe and Central Asia Romania |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
MARKET ANALYSIS FINANCIAL MANAGEMENT CREDIT MARKETS CREDIT RESTRAINT INVESTMENT BARRIERS RURAL FINANCE HOUSEHOLD SURVEYS FINANCIAL INTERMEDIATION ACCESSIBLE SERVICES FINANCIAL SERVICES RURAL ECONOMIC DISPARITIES FINANCIAL VOLATILITY INFLATION RATES LEGAL & REGULATORY FRAMEWORK AGRICULTURAL SUBSIDIES POLICY REFORM INTERVENTION STRATEGIES INSTITUTIONAL FRAMEWORK RETAIL MARKETING ACCOUNTING ACCOUNTING RECORDS AGRICULTURE AQUIFERS BANK BRANCHES BANK DEPOSITS BANKING SECTOR BANKING SYSTEM BANKS BOOK VALUE BORROWING CAPITAL ADEQUACY CASH FLOW ANALYSIS CASH FLOWS COLLATERAL COMMERCIAL BANKS COMMERCIAL CREDIT CONSOLIDATED FINANCIAL STATEMENTS CONSOLIDATION CREDIT MARKETS CREDIT RISK DEBT DEPOSITS DEPRECIATION DEVELOPMENT POLICIES DUAL ECONOMY ECOLOGY ECONOMIC REFORM ECONOMIC RESEARCH ECONOMIC SECTORS ECONOMICS EMPIRICAL ANALYSIS EMPIRICAL EVIDENCE EMPIRICAL INFORMATION EMPLOYMENT ENVIRONMENTAL PERFORMANCE EXCHANGE RATE FARMS FINANCIAL INSTITUTIONS FINANCIAL INTEGRATION FINANCIAL INTERMEDIARIES FINANCIAL INTERMEDIATION FINANCIAL MARKETS FINANCIAL PERFORMANCE FINANCIAL SECTOR FINANCIAL SERVICES FINANCIAL TRANSACTIONS FOREST MANAGEMENT FORESTRY GDP GROWTH RATE INCOME INFLATION INFLATION RATE INFLATION RATES INTEREST RATE INTEREST RATES INTERNATIONAL TRADE LIQUIDATION MANAGEMENT INFORMATION SYSTEMS MATURITY NOMINAL INTEREST RATES PER CAPITA INCOME POLICY MAKERS PRIVATE BANKS PRIVATIZATION PRODUCTION COSTS PRODUCTION TECHNOLOGY PROFITABILITY PRUDENTIAL REGULATIONS PUBLIC FINANCE PUBLIC POLICY REGULATORY FRAMEWORK REORGANIZATION RETURN ON ASSETS RETURN ON EQUITY SAVINGS SAVINGS ACCOUNTS STATE BANKING STATE BANKS STATE ENTERPRISES STATISTICAL DATA SUSTAINABLE DEVELOPMENT TRANSACTION COSTS TRANSITION ECONOMIES WAGES WATER PRICING |
| spellingShingle |
MARKET ANALYSIS FINANCIAL MANAGEMENT CREDIT MARKETS CREDIT RESTRAINT INVESTMENT BARRIERS RURAL FINANCE HOUSEHOLD SURVEYS FINANCIAL INTERMEDIATION ACCESSIBLE SERVICES FINANCIAL SERVICES RURAL ECONOMIC DISPARITIES FINANCIAL VOLATILITY INFLATION RATES LEGAL & REGULATORY FRAMEWORK AGRICULTURAL SUBSIDIES POLICY REFORM INTERVENTION STRATEGIES INSTITUTIONAL FRAMEWORK RETAIL MARKETING ACCOUNTING ACCOUNTING RECORDS AGRICULTURE AQUIFERS BANK BRANCHES BANK DEPOSITS BANKING SECTOR BANKING SYSTEM BANKS BOOK VALUE BORROWING CAPITAL ADEQUACY CASH FLOW ANALYSIS CASH FLOWS COLLATERAL COMMERCIAL BANKS COMMERCIAL CREDIT CONSOLIDATED FINANCIAL STATEMENTS CONSOLIDATION CREDIT MARKETS CREDIT RISK DEBT DEPOSITS DEPRECIATION DEVELOPMENT POLICIES DUAL ECONOMY ECOLOGY ECONOMIC REFORM ECONOMIC RESEARCH ECONOMIC SECTORS ECONOMICS EMPIRICAL ANALYSIS EMPIRICAL EVIDENCE EMPIRICAL INFORMATION EMPLOYMENT ENVIRONMENTAL PERFORMANCE EXCHANGE RATE FARMS FINANCIAL INSTITUTIONS FINANCIAL INTEGRATION FINANCIAL INTERMEDIARIES FINANCIAL INTERMEDIATION FINANCIAL MARKETS FINANCIAL PERFORMANCE FINANCIAL SECTOR FINANCIAL SERVICES FINANCIAL TRANSACTIONS FOREST MANAGEMENT FORESTRY GDP GROWTH RATE INCOME INFLATION INFLATION RATE INFLATION RATES INTEREST RATE INTEREST RATES INTERNATIONAL TRADE LIQUIDATION MANAGEMENT INFORMATION SYSTEMS MATURITY NOMINAL INTEREST RATES PER CAPITA INCOME POLICY MAKERS PRIVATE BANKS PRIVATIZATION PRODUCTION COSTS PRODUCTION TECHNOLOGY PROFITABILITY PRUDENTIAL REGULATIONS PUBLIC FINANCE PUBLIC POLICY REGULATORY FRAMEWORK REORGANIZATION RETURN ON ASSETS RETURN ON EQUITY SAVINGS SAVINGS ACCOUNTS STATE BANKING STATE BANKS STATE ENTERPRISES STATISTICAL DATA SUSTAINABLE DEVELOPMENT TRANSACTION COSTS TRANSITION ECONOMIES WAGES WATER PRICING Chaves, Rodrigo A. Sanchez, Susana Schor, Saul Tesliuc, Emil Financial Markets, Credit Constraints, and Investment in Rural Romania |
| geographic_facet |
Europe and Central Asia Romania |
| relation |
World Bank Technical Paper;No. 499 |
| description |
The report assesses the performance of
financial markets in rural areas of Romania, based on three
- rural household, rural enterprise, and financial
intermediary - surveys, carried out in 1998, and other
official data covering 1997. The study finds that rural
financial markets perform rather poorly in three key
dimensions: the degree of access to financial services by
rural economic agents (enterprises and households) is very
limited; this limited access hinders the ability of these
agents to take advantage of the investment opportunities
available in rural areas; and, these markets failed to
allocate flows of credit to those agents with the most
profitable investment opportunities. This poor performance
is caused by an unfortunate combination of short term
circumstances, structural factors, and government policies,
and interventions. In particular, the degree of access to
credit services by rural agents is very low, because several
factors have combined, to weaken both the supply of, and
demand for rural credit. The report suggests a detailed
government strategy to correct the observed shortcomings of
rural financial markets, and identifies new challenges
likely to appear. Moreover, the Government could assist in
increasing the availability of credit, by improving policies
in financial markets, legal and regulatory framework, and,
the ability of the financial sector to provide retail
financial services. |
| format |
Publications & Research :: Publication |
| author |
Chaves, Rodrigo A. Sanchez, Susana Schor, Saul Tesliuc, Emil |
| author_facet |
Chaves, Rodrigo A. Sanchez, Susana Schor, Saul Tesliuc, Emil |
| author_sort |
Chaves, Rodrigo A. |
| title |
Financial Markets, Credit Constraints, and Investment in Rural Romania |
| title_short |
Financial Markets, Credit Constraints, and Investment in Rural Romania |
| title_full |
Financial Markets, Credit Constraints, and Investment in Rural Romania |
| title_fullStr |
Financial Markets, Credit Constraints, and Investment in Rural Romania |
| title_full_unstemmed |
Financial Markets, Credit Constraints, and Investment in Rural Romania |
| title_sort |
financial markets, credit constraints, and investment in rural romania |
| publisher |
Washington, DC: World Bank |
| publishDate |
2013 |
| url |
http://documents.worldbank.org/curated/en/2001/04/1089534/financial-markets-credit-constraints-investment-rural-romania http://hdl.handle.net/10986/13893 |
| _version_ |
1764424763816542208 |