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SRP. 2020; 11(10): 948-953

Legal Reforms of the Land Market in the Countries of Central and Eastern Europe and the Development of Their Financial and Credit Institutions

Oleksandr Tereshchuk, Mykola Yasynok, Volodymyr & 1050;roitor, Alla Zemko, Dmytro Yasynok, Mykola Danevych.

The land reform in the countries of Central and Eastern Europe that, in fact, was simultaneously initiated in the late twentieth century in Bulgaria, Romania, Russia, Moldova, Estonia, Latvia, Lithuania, the Czech Republic, Germany, Slovenia, Ukraine and so far hasn’t been finished in any of these countries, is a relevant issue not only in terms of a comparative analysis of the land market reforming rate, its transparency, but also from the perspective of the peculiarities of support of such reforms by banking financial institutions, which were being created in these countries on the move of reforms. Land banks, cooperative banks, credit unions had, in fact, become the financial locomotives that led to the reforms of the entire agro-industrial complex in these countries. Lease of land or its possession, the lease price and its area, a reasonable balance between private and public interests – these and other issues have become the subject of this study.

Key words: Land reform, land market, land bank, credit union, credit financing, subsidizing, land mortgage, agricultural sector of economy, farm enterprises

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