THEORETICAL ASPECTS OF THE ESSENCE AND FEATURES OF CREDIT RELATIONS IN THE AGRICULTURAL SECTOR OF THE ECONOMY
ALESKEROVA Yuliia – Doctor of Economics Sciences, Professor of the Department of Finance, Banking and Insurance, Vinnytsia National Agrarian University (21008, Vinnytsia, 3, Soniachna Str., e-mail: email@example.com).
FEDORYSHYNA Lidiya – Candidate of Historical Sciences, Associate Professor of the Department of Analysis and Statistics, Vinnytsia National Agrarian University (21008, Vinnytsia, 3, Soniachna Str., e-mail: firstname.lastname@example.org).
The article reveals the essence of credit, investigates the evolutionary prerequisites for the emergence and formation of the categorical apparatus of lending, defines the characteristic features of credit, which were studied by representatives of various theories. The stages of development of credit relations in society are systematized. The stages of development of credit relations, principles, functions and features of lending to enterprises in the agricultural sector of the economy have been investigated.
The evolutionary aspects of credit as an economic category have been investigated from the standpoint of the capital-creation theory and the theory of credit regulation.
It has been established that the main provisions of the capital-creation theory treat credit as a category independent of the reproduction process and as a decisive factor in the development of the economy. It is proved that the capital-creation theory received its development in the form of the expansionist theory of credit, based on the provisions on the infinity of credit and the deposits and capital created by it. It is proved that the essence of credit is revealed more deeply by the theory of credit regulation, which determines the priority role of the monetary system in the development of the state's economy, emphasizing its ability to regulate the economic system and prevent crisis phenomena. It has been established that the development of credit theories at the present stage is reflected in the redistribution and stock theories.
It has been proved that it is expedient to use an integrated, multi-level approach to the study of the essence, functions, mechanisms of the functioning of credit and to determine its influence on the development of the state economy. The result of this research is the author's conceptual vision of credit as an economic category, which systematically covers the essence, role and functions of credit. The legitimacy of the existence of a separate mechanism of credit relations in the agricultural sector of the economy, covering credit institutions, the credit market, credit policy and the credit flows themselves, has been proved. The essential characteristics and features of agricultural credit are systematized and the priority features of credit facilities in agriculture are highlighted. Five groups of factors have been formulated that affect the availability of credit for business entities in agriculture in modern conditions.
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