Agricultural finance and institutional reform in Serbia [Serbia&Montenegro]
2003
Ljutic, B.Z. (Univerzitet u Beogradu, Beograd - Zemun (Serbia and Montenegro). Poljoprivredni fakultet)
This paper is exploring the interaction of agricultural finance and institutional reforms in Serbia in the phase of economic and social transition. It has being analyzed the micro and macro concepts of agriculture finance. Reorientation and refocusing of the agricultural development of Serbia from the so-called socialist agri-combinants/cooperatives towards the private farms and firms is really a big u-turn and return back to a successful tradition of many centuries and to the international standards. This is the only way how the agriculture finance shall contribute to a creation of a solid base for understanding of the real determinants of the financial position and results of the agriculture sector in interactions with the measures of agriculture policy. Country that does not posses developed and articulated agriculture finance certainly could not run not only the efficient but also not any agriculture policy, because the creators of the policy do not known what they are running, where to they area leading and when they shall reach the final destination and with what results. All outside this framework is an empty scholastic logic, at the same time unacceptable for the goal of the harmonization with the EU and our joining the globalization band-wagon (IBRD, IMF, OECD, WTO). The key question of further reforms of the economic and social system and institutions in Serbia is could we reconnect to European Union standards and reintegrate into it and into a global economy.
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