Rural Finance Research: Priorities, Dissemination, and Policy Impact
Creators:Meyer, Richard L.
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Publisher:Ohio State University. Department of Agricultural, Environmental, and Development Economics
Series/Report no.:Ohio State University. Department of Agricultural Economics and Rural Sociology. ESO (Economics and Sociology Occasional Paper). No. 1797
This paper reviews the evolution in thinking about rural finance policy that has occurred during the past couple of decades. The Farm Finance approach with its emphasis on agricultural credit has given way to the Rural Financial Markets approach which concerns financial intermediation and the development of viable, self-sustaining financial institutions. Much information is needed about appropriate policies for use in developing a sound financial system. Research priorities are identified in the areas of financial reforms, financial innovations, risk reduction, regulation and supervision, nonfarm and microenterprises, women's access to financial services, and informal finance. The policy making process is reviewed in an attempt to understand why the pace of financial reforms seems slow relative to the well-established literature that demonstrates the need for it. The role of the RACAs (Regional Agricultural Credit Associations) is reviewed and suggestions are made about ways to increase their effectiveness in influencing financial policies.
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