Іпотечні механізми відтворення капіталу в аграрному секторі економіки: світовий досвід та Україна

Abstract

Introduction – the relevance of the article is determined by the limited involvement of financial resources in the agrarian sector of the economy by providing loans secured by land for agricultural purposes through a moratorium on their alienation. In agriculture, land is a major factor in production, but in our country it is not defined by capital, its value is not reflected in the share capital in the balance sheet, and land income is not charged. Purpose – identification of the main characteristics of the mortgage mechanisms of reproduction of capital in the agrarian sector of the economy by the European and American type, and developing recommendations on this basis for Ukraine. Results – the characteristics of one-level and twolevel models of land-mortgage credit are generalized on the following features: openness, distribution, subjects, active mortgage operations, operations on resource formation, advantages, disadvantages, preconditions of functioning. The factors of the land market and banking activity, which hinder the development of land mortgages, are determined. Critical assessment of the attempt to create a specialized land bank in Ukraine is given. Conclusion – an iterative approach to the introduction of mortgage mechanisms of reproduction of capital in the agricultural sector of the economy is proposed, represented by bank credit under the bail of agricultural land and issuance of mortgage securities. The obligatory conditions for effective functioning of mortgage mechanisms of reproduction of capital in the agrarian sector of the economy are determined: a complete land market, on which all functions of ownership are implemented without restrictions; providing tax incentives to banking institutions that provide mortgage credit, as well as state guarantees for mortgage coverage.