Ekonomika poljoprivrede
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2021, vol. 68, iss. 2, pp. 341-355
Lending against warehouse receipts: Evidence from Serbia
aInstitute of Agricultural Economics, Belgrade
bUniversity of Belgrade, Faculty of Economy,,

The paper examines factors influencing development of the public warehouse system. Public warehouse system primary role is to provide stakeholders in agribusiness financing against stored commodity as collateral. Case study is conducted in Serbia. Interviews with banks, analyses of the public warehouse results, computational analyses and intensive literature research were conducted. Most important factors for lending against warehouse receipts from bankers' perspectives are guarantee system performances followed by efficient enforcement procedure, efficient public warehouse surveillance, favourable central bank's rating of warehouse receipts and subsidies. According to the results, Serbian public warehouse legal framework is properly established resulting in fast development of the public warehouse system in first years. After 2014 system deteriorated primarily due to the absence of inspection and Indemnity fund low guarantee performance. Lessons learned from Serbia point out that besides proper legal framework, implementation and favourable business environment are paramount for successful public warehouse system.
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article language: English
document type: Original Scientific Paper
DOI: 10.5937/ekoPolj2102341K
received: 28/02/2021
accepted: 25/05/2021
published in SCIndeks: 01/07/2021
peer review method: double-blind
Creative Commons License 4.0

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