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Agro-industrial complex of Ukraine is an important sector of the national economy capable of leading it out of crisis. In the conditions of insufficient financing of its activities, the agricultural sector needs credit resources, which are too expensive financial source nowadays. Researches show a reduction of using the loans by agricultural entities in the capacity of Bank interest rates. Therefore banking institutions protect their funds from General economic risks and risks of activities of agriculture. The paper proves the necessity of state support of agricultural lending and provides suggestions for its implementation., Агропромышленный комплекс Украины является важной отраслью национальной экономики, способной вывести ее из кризиса. В условиях недостатка финансирования своей деятельности, агропромышленный сектор очень нуждается в кредитных ресурсах, которые на данный период времени являются слишком дорогим финансовым источником. Проведенные исследования доказывают сокращение использования кредитов агропромышленными субъектами хозяйствования при наращивании процентных банковских ставок. Таким образом, банковские учреждения защищают свои средства от общеэкономических рисков и рисков деятельности агропромышленного комплекса. Доказана необходимость государственной поддержки агрокредитования и приведены предложения по ее внедрению., Агропромисловий комплекс України є важливою галуззю національної економіки, здатною вивести її з кризи. В умовах нестачі фінансування своєї діяльності, агропромисловий сектор дуже потребує кредитних ресурсів, які нині є занадто дорогим фінансовим джерелом. Проведені дослідження доводять скорочення використання кредитів агропромисловими суб’єктами господарювання при нарощенні процентних банківських ставок. Таким чином, банківські установи захищають свої кошти від загальноекономічних ризиків та ризиків діяльності агропромислового комплексу. Доведено необхідність державної підтримки агрокредитування та наведено пропозиції щодо її впровадження.

The aim of this article is to examine the impact of the use of agricultural extension, advisory services and agricultural loans on the introduction of agricultural innovations in the Republic of Serbia. Agricultural innovations are incremental changes through which individuals and organizations introduce new or use significantly improved products, services or ways of organizing in order to increase the performance of agriculture. While agricultural extension involves agricultural knowledge, information and skills that are passed on to farmers, their associations and other value chains market actors, agricultural loans are one of the most important financial instruments available to them. In order to investigate the predictive power and influence of these variables, the paper applied the method of binary logistic regression due to the categorical nature of predictors and the dependent variable. Based on the conducted research, the article found that the use of agricultural loans does not have a statistically significant impact on the introduction of agricultural innovations in Serbia, while agricultural extension has. The article concludes that for the further flourishing of agricultural innovations, the development of advisory services, as well as for the development of various fiscal incentives and rural financial instruments, it is necessary to continuously develop the devastated Serbian village and invest more intensively in rural development. This is the only possible way to prevent further waves of rural population emigration to cities, as well as to improve their knowledge, propensity for innovations and livelihoods.

The purpose of the article is to improve the methodology for analysing credit support for the reproduction of fixed assets of agrarian enterprises. Various techniques have been developed to analyse the effectiveness of the formation of fixed assets and the process of their reproduction. Among them, the application of such types of analysis as horizontal and vertical (quantitative analysis of the structure of fixed assets and its changes), analysis of return on assets, capital intensity and profitability, indicators of extensive and intensive loading are widespread. Less applicable are calculations of various coefficients, such as the rate of retirement, renewal, increase in fixed assets.). Methodology. There are several approaches to analysing the effectiveness of the process of reproduction of fixed assets. A number of domestic scholars distribute such indicators to groups: natural and valuable. Natural includes all the technical and economic performance of engines, machines, performance indicators of cattle, etc. Among the highlights are indicators of economic, sectoral efficiency, and indicators of economic efficiency. Results. Determining the efficiency of the loan support for the reproduction process involves the creation of a system of indicators that, by the structure and in aggregate, reflect the degree of efficiency of the use of the loan. Indicators that are used today to assess the effectiveness of using credit support, have fundamental disadvantages, which makes it problematic for their practical application. Practical implications. Thus, some of them do not have a sufficiently significant theoretical justification, the same indicators have different names, are unsuccessful from the logical point of view, do not adequately reflect the needs of industry practices, others – when testing in the current accounting information, it is expedient to improve them. Value/originality. The application of the analysis of reproduction of fixed assets will allow receiving growth of economic indicators of activity of agricultural enterprises on the basis of ensuring the continuous process of financing production by economically grounded sources of working capital formation, one of which is short-term bank credit.

Метою статті є теоретичне обґрунтування та розробка практичних рекомендацій щодо фінансово-кредитного забезпечення дрібних та середніх сільгоспвиробників з використанням аграрних розписок. Встановлено, що українські аграрії перебувають у перманентному пошуку джерел фінансування власного бізнесу. Наразі серед аграріїв найбільший попит має банківське кредитування. Доведено, що система фінансування під заставу майбутнього врожаю з використанням аграрних розписок може стати дієвим інструментом залучення кредитних ресурсів дрібними та середніми сільгоспвиробниками. Порівняльний аналіз банківського кредитування та кредитування з використанням аграрних розписок показав, що останні є більш адаптованими до потреб сільгоспвиробників, оскільки враховують сезонний характер аграрного виробництва та є доволі прозорим інструментом. У разі невиконання зобов’язань за аграрними розписками законодавством передбачена проста і зрозуміла процедура стягнення без судового провадження. Попри очевидні переваги аграрних розписок, процес їх поширення в аграрному секторі економіки країни гальмується низькою обізнаністю сільськогосподарських товаровиробників з механізмом їх використання, відсутністю неналежного оформлення земельних ділянок у деяких аграріїв, недостатньою відпрацьованістю питань, пов’язаних з поверненням позик, та іншими проблемами., Целью статьи является теоретическое обоснование и разработка практических рекомендаций по финансово-кредитному обеспечению мелких и средних сельхозпроизводителей с использованием аграрных расписок. Определено, что украинские аграрии находятся в перманентном поиске источников финансирования собственного бизнеса. Сейчас среди аграриев наибольшим спросом пользуется банковское кредитование. Доказано, что система финансирования под залог будущего урожая с использованием аграрных расписок может стать действенным инструментом привлечения кредитных ресурсов мелкими и средними сельхозпроизводителями. Сравнительный анализ банковского кредитования и кредитования с использованием аграрных расписок показал, что последние являются более адаптированными к потребностям сельхозпроизводителей, поскольку учитывают сезонный характер аграрного производства и являются достаточно прозрачным инструментом. В случае невыполнения обязательств по аграрным распискам законодательством предусмотрена простая и понятная процедура взыскания без судебного производства. Несмотря на очевидные преимущества аграрных расписок, процесс их распространения в аграрном секторе экономики страны тормозится низкой осведомленностью сельскохозяйственных товаропроизводителей с механизмом их использования, отсутствием надлежащего оформления земельных участков у некоторых аграриев, недостаточной отработкой вопросов, связанных с возвратом займов, и другими проблемами., The article is aimed at a theoretical substantiation and development of practical recommendations on the financial-credit support for small and mediumsized agricultural producers using agrarian receipts. It is determined that Ukrainian farmers are in permanent search for sources of financing of own business. Nowadays bank lending is the most popular among farmers. It has been proved that the system of financing under the pledge of the future harvest with use of agrarian receipts can become an effective instrument of attraction of credit resources by small and average agricultural producers. The comparative analysis of bank lending and crediting using agrarian receipts have showed that the latter are more adapted to the needs of agricultural producers, because of taking into account the seasonal nature of agricultural production, also they are a fairly transparent tool. In case of non-fulfillment of obligations on agrarian receipts, the legislation provides a simple and clear procedure of collection without court proceedings. Despite the obvious advantages of agrarian receipts, the process of their spread in the agrarian sector of the country’s economy is hampered by low awareness of agricultural producers with the mechanism of their use, lack of proper registration of lands in some farmers, insufficient work-out of issues related to repayment of loans, and other problems.

The China Banking Regulatory Commission (CBRC) has maintained its momentum in regulation and supervision in the face of exceptional growth in scale and increasing complexity of the banking system. Equally, the CBRC has risen to the demands of the international regulatory reform agenda, delivering timely revisions to its body of regulations and maturing its supervisory practices through investing in essential new skills, enhancing methodologies, and broadening its interactions with the industry. In this context, the clarity of supervisory requirements and expectations communicated to the industry is a strength of the CBRC. Recent organizational reforms, in 2015, building on other internal reforms, will serve the CBRC well in delivering its supervisory mandate. While pursuit of financial stability is recognized as fundamentally important, concerns must be acknowledged as to whether the CBRC would, in practice, always be able to act on its primary, stability, objective, especially if government policies, whether focused growth and expansion, or social protection, conflicted with prudential considerations. The China Banking Regulatory Commission (CBRC) has achieved a high degree of compliance with the Basel Core Principles for Effective Banking Supervision (BCPs). Notwithstanding the revision to the BCP methodology, which raised the standards expected of supervisory authorities, the CBRC has demonstrated progress in almost all areas. Nevertheless, further maturing is needed, and taken together the recommendations of this report seek to support the CBRC in developing deeper and more comprehensive diagnostic capabilities, which ought to facilitate early, effective and preventative actions as necessary. It is essential that the CBRC’s achievements in recent years are consolidated as new challenges and complexities in the system will continue to emerge. In particular, it is essential that the CBRC obtain the resources to expand its range and depth of skills before developments in the industry leave it unable to maintain meaningful oversight and authority, not least of the four Global Systemically Important Banks (GSIBs). Building on the supervisory vision expressed in prestige CBRC publications such as the Annual Report, a detailed forward strategy for supervision, covering three to five years, would serve as a vehicle for the CBRC to articulate its case for resources.

Growing research and policy interest focuses on the misallocation of output and factors of production in developing economies. This paper considers the possible misallocation of financial loans. Using plant-level data on the organized and unorganized sectors, the paper describes the temporal, geographic, and industry distributions of financial loans. The focus of the analysis is the hypothesis that land misallocation might be an important determinant of financial misallocation (for example, because of the role of land as collateral against loans). Using district-industry variations, the analysis finds evidence to support this hypothesis, although it does not find a total reduction in the intensity of financial loans or those being given to new entrants. The analysis also considers differences by gender of business owners and workers in firms. Although potential early gaps for businesses with substantial female employment have disappeared in the organized sector, a sizeable and persistent gap remains in the unorganized sector.

Досліджені теоретичні, методологічні та практичні аспекти кредитного забезпечення аграріїв. Визначені мета, завдання, функції та принципи кредитного забезпечення аграрних підприємств. Проаналізовано сучасний стан кредитування сільського господарства України. Розглянуто вплив обсягу залучених кредитних ресурсів на рівень рентабельності виробництва у сільськогосподарських підприємствах. Виявлено основні тенденції розвитку кредитування аграрних підприємств. Відображено напрями активізації руху банківського капіталу в аграрну сферу з метою розширення фінансових можливостей щодо виробництва та реалізації сільськогосподарської продукції. Запропоновано комплекс заходів, спрямованих на диверсифікацію джерел фінансування потреб аграрних підприємств. Обґрунтовано, що сучасні умови кредитування вимагають різноманітності форм і методів взаємодії між учасниками кредитних відносин., Исследованы теоретические, методологические и практические аспекты кредитного обеспечения аграриев. Определены цель, задания, функции и принципы кредитного обеспечения аграрных предприятий. Проанализировано современное состояние кредитования сельского хозяйства Украины. Рассмотрено влияние объема привлеченных кредитных ресурсов на уровень рентабельности производства в сельскохозяйственных предприятиях. Выявлены основные тенденции развития кредитования аграрных предприятий. Отображены направления активизации перемещения банковского капитала в аграрную сферу с целью расширения финансовых возможностей производства и реализации сельскохозяйственной продукции. Предложен комплекс мероприятий, направленных на диверсификацию источников финансирования потребностей аграрных предприятий. Обосновано, что современные условия кредитования требуют разнообразия форм и методов взаимодействия между участниками кредитных отношений., Theoretical, methodological and practical aspects of the credit providing of agrarians are investigated. The author has determined the рurpose, task, functions and principles to the credit providing of agrarian enterprises. In the article the modern state an agriculture crediting in Ukraine is analysed. An influence of the funded credit resources on the level of profitability of production in agricultural enterprises is considered. It is found out the trends of agrarian enterprises crediting. Methods of bank capital flow activation are lighted up in an agrarian sphere with the purpose of expansion of financial possibilities of production and sale of agricultural product. The complex of measures, directed on diversification of sourcings necessities of agrarian enterprises is offered. It is proved, that modern terms of crediting needs to diversify the forms and methods of cooperation between participants of the credit relations.

Gross Domestic Product (GDP) growth has moderated from 6.7 percent in FY11 to 6.3 percent in FY12 due to unfavorable external economics and internal supply constraints. Monetary policy remained accommodative for most of 2011 but gradual tightening is occurring. With the high fiscal deficit and domestic borrowing by Government, monetary policy is now bearing the brunt of macroeconomic policy adjustment. The balance of payments (BoP) is on a deteriorating track, with reserves falling to below three months of imports and export growth turning negative in March 2012. A coordinated policy response is required to ease macroeconomic pressures and improve growth prospects. Key actions include the need to create fiscal space, contain government borrowing to mitigate the risk of crowding out of credit to the private sector, better regulate the capital market, and stimulate investment and job growth in the export sector. Unlike in 2008, Bangladesh has insufficient policy space to avert the negative impact of a global slowdown through fiscal stimulus packages and monetary easing.

Output-Based Aid (OBA) and other results-based financing mechanisms are gaining popularity in the development context for many reasons, in particular, the desire to link scarce public funding with actual results on the ground. But withholding disbursements until the delivery of 'results' or 'outputs' requires that the service providers delivering the results must have access to finance (A2F) to pay for the 'inputs' in the first place. Such finance is not always available or affordable. The purpose of this working paper is to outline some of the key issues related to OBA and A2F. The analysis focuses on the energy, water, and health sectors. Micro, small and medium enterprise (MSME) financing is the main topic; however, OBA is ultimately about poor households affording access to basic services, and many OBA schemes attempt to address A2F for households, so some of these innovations are also described. The working paper is expected to support a consultative process between experts dealing with A2F challenges and experts on OBA. This process should help raise awareness of the OBA approach among potential financiers, and help consider solutions (instruments, partnerships, capacity building) so that OBA and other similar results-based financing mechanisms can be brought to scale and integrated into broader sector policy, where appropriate.

Розповідається про кредитну підтримку малого та середнього бізнесу в Німеччині. It talks about lending to small and medium businesses in Germany.

The article deals with the issues of market transformation model in Ukraine. The author describes the current economic model in the country, highlights the preconditions for effective economic model implementation for the development of Ukraine, assesses the factors influenced the economic growth and social life. A new system of economic policy, that based on the effective use of productive potential of the country and that is aimed at targeting the rates of GDP and eventually will lead to the stable economic development has been offered in this research.