SMALLHOLDERS’ PRIORITIES IN FINANCING: MATHEMATICAL APPLICATIONS IN THE CONTEXT OF A POST-TRANSITION ECONOMY
Smallholders in the North Macedonia face different constraints in accessing to finance. Various formal institutions, mechanisms and support programmes were established to increase the external capital consumption by farmers, but still smallholders remained underserved with appropriate finance. The a...
Saved in:
| Main Authors: | , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
University of Agricultural Sciences and Veterinary Medicine, Bucharest
2021-01-01
|
| Series: | Scientific Papers Series : Management, Economic Engineering in Agriculture and Rural Development |
| Online Access: | https://managementjournal.usamv.ro/pdf/vol.21_1/Art46.pdf |
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
| _version_ | 1850099986092523520 |
|---|---|
| author | Ivana JANESKA STAMENKOVSKA Ana SIMONOVSKA |
| author_facet | Ivana JANESKA STAMENKOVSKA Ana SIMONOVSKA |
| author_sort | Ivana JANESKA STAMENKOVSKA |
| collection | DOAJ |
| description | Smallholders in the North Macedonia face different constraints in accessing to finance. Various formal institutions, mechanisms and support programmes were established to increase the external capital consumption by farmers, but still smallholders remained underserved with appropriate finance. The aim of this study is to determine the priorities of the smallholders in choosing their best alternative of financial sources under different financing incentives. The Analytical Hierarchy Process, as a multi-criteria decision making technique, enabled prioritisation in the complex financial decision- making, considering multiple conflicting criteria at once. The results show that the smallholders mostly need finance to support investments in farm modernization, followed by the need of investment capital for adaption and mitigation of negative climate change effects and environment protection. In order to meet these needs, smallholders mostly prioritise the national institutions for providing financial support in agriculture. Especially important for the smallholders is the National Rural Development Programme and IPARD Programme that follow complex procedures, and thus, these funds have a relatively low utilisation rate. Another priority of smallholders is given to the direct credits by the National Development Bank that are currently unavailable to smallholders due to legal restrictions. Analyses of this kind, considering the bottom-up approach in valuing the smallholders’ opinions and needs of financing, are scarce in the practise, but they are very important in tailoring the financing offer and financial support measures in agriculture to the real needs of the smallholders. |
| format | Article |
| id | doaj-art-d1754acdca1740c585b1f22cb80f6b5a |
| institution | DOAJ |
| issn | 2284-7995 2285-3952 |
| language | English |
| publishDate | 2021-01-01 |
| publisher | University of Agricultural Sciences and Veterinary Medicine, Bucharest |
| record_format | Article |
| series | Scientific Papers Series : Management, Economic Engineering in Agriculture and Rural Development |
| spelling | doaj-art-d1754acdca1740c585b1f22cb80f6b5a2025-08-20T02:40:23ZengUniversity of Agricultural Sciences and Veterinary Medicine, BucharestScientific Papers Series : Management, Economic Engineering in Agriculture and Rural Development2284-79952285-39522021-01-012114054121500SMALLHOLDERS’ PRIORITIES IN FINANCING: MATHEMATICAL APPLICATIONS IN THE CONTEXT OF A POST-TRANSITION ECONOMYIvana JANESKA STAMENKOVSKAAna SIMONOVSKASmallholders in the North Macedonia face different constraints in accessing to finance. Various formal institutions, mechanisms and support programmes were established to increase the external capital consumption by farmers, but still smallholders remained underserved with appropriate finance. The aim of this study is to determine the priorities of the smallholders in choosing their best alternative of financial sources under different financing incentives. The Analytical Hierarchy Process, as a multi-criteria decision making technique, enabled prioritisation in the complex financial decision- making, considering multiple conflicting criteria at once. The results show that the smallholders mostly need finance to support investments in farm modernization, followed by the need of investment capital for adaption and mitigation of negative climate change effects and environment protection. In order to meet these needs, smallholders mostly prioritise the national institutions for providing financial support in agriculture. Especially important for the smallholders is the National Rural Development Programme and IPARD Programme that follow complex procedures, and thus, these funds have a relatively low utilisation rate. Another priority of smallholders is given to the direct credits by the National Development Bank that are currently unavailable to smallholders due to legal restrictions. Analyses of this kind, considering the bottom-up approach in valuing the smallholders’ opinions and needs of financing, are scarce in the practise, but they are very important in tailoring the financing offer and financial support measures in agriculture to the real needs of the smallholders.https://managementjournal.usamv.ro/pdf/vol.21_1/Art46.pdf |
| spellingShingle | Ivana JANESKA STAMENKOVSKA Ana SIMONOVSKA SMALLHOLDERS’ PRIORITIES IN FINANCING: MATHEMATICAL APPLICATIONS IN THE CONTEXT OF A POST-TRANSITION ECONOMY Scientific Papers Series : Management, Economic Engineering in Agriculture and Rural Development |
| title | SMALLHOLDERS’ PRIORITIES IN FINANCING: MATHEMATICAL APPLICATIONS IN THE CONTEXT OF A POST-TRANSITION ECONOMY |
| title_full | SMALLHOLDERS’ PRIORITIES IN FINANCING: MATHEMATICAL APPLICATIONS IN THE CONTEXT OF A POST-TRANSITION ECONOMY |
| title_fullStr | SMALLHOLDERS’ PRIORITIES IN FINANCING: MATHEMATICAL APPLICATIONS IN THE CONTEXT OF A POST-TRANSITION ECONOMY |
| title_full_unstemmed | SMALLHOLDERS’ PRIORITIES IN FINANCING: MATHEMATICAL APPLICATIONS IN THE CONTEXT OF A POST-TRANSITION ECONOMY |
| title_short | SMALLHOLDERS’ PRIORITIES IN FINANCING: MATHEMATICAL APPLICATIONS IN THE CONTEXT OF A POST-TRANSITION ECONOMY |
| title_sort | smallholders priorities in financing mathematical applications in the context of a post transition economy |
| url | https://managementjournal.usamv.ro/pdf/vol.21_1/Art46.pdf |
| work_keys_str_mv | AT ivanajaneskastamenkovska smallholdersprioritiesinfinancingmathematicalapplicationsinthecontextofaposttransitioneconomy AT anasimonovska smallholdersprioritiesinfinancingmathematicalapplicationsinthecontextofaposttransitioneconomy |