Policies for access to financing for micro, small, and medium-sized producers in global commodity chains: credit and FDI
DOI:
https://doi.org/10.15359/peds.2-1.1Keywords:
financing, global commodity chains, small rural farmers, financial system, banking technology, access to international marketsAbstract
This article integrates the theory and concepts of the global commodity chain analysis approach with the theory and concepts of financial theory to propose changes in property rights, commercial legislation, financial legislation, and supervision that would allow financial institutions to create unconventional financing products so that small rural producers, small organized groups of processors, and small exporters to access financing or improve the conditions under which they receive it, thereby enabling them to integrate sustainably into global commodity chains. Although both conceptual approaches are treated independently in the literature, it is analyzed to identify areas that support the proposal for an approach to financing from the perspective of global commodity chains, and for this to become a new paradigm of banking technology for financial agents. The structure and financing flows between agents in the chain and between agents in the chain and financial agents, both domestic and international, are analyzed, as well as the role of foreign direct investment in the financing of global commodity chains. The proposal for financial agents to create new financing instruments within the framework of global commodity chains is based on an analysis of the characteristics of the chains, the producing agents, and the commercial and financial contracts that guarantee the recovery of the resources lent.
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