農業政策金融の課題と再編への考察 - Tokyo University of Agriculture

27The Implications of the Reorganization of GovernmentProgrammed Loans for AgricultureKenji HIGURASHI(Tokyo University of Agriculture)The foundations of Goverment Programmed Loans for Agriculture (GPLA) were established duringthe ’/* s and the ’ 0* s. GPLA has been expanding by through the influence of the agricultural and ruraleconomy. However, GPLA has complex problems because of the existence of +1 kinds of loan systems.GPLA includes both funds of the public sector and private sector. The former is needed to raise thesupplementary function of policy measures by way of assisting private business. On the other hand,private financial sector need to raise the supplementary function of policy measures.Agricultural policy changed from a policy based on the Agricultural Basic Law to a new policy basedon the Food, Agriculture and Rural Basic Law in +333. However, the foundations of GPLA have notchanged. This paper considers the problems of political finance, factors in the decline of the financialfunctions and implications toward reorganization of the GPLA.The problems of GPLA are the decline supplementary policy measures because of the decliningdemand for the loans. This paper points out ( + ) exclusion of lending GLPA because of the rising rate of thesubsidies for agricultural investments, (,) decline of the character of the low interest rate as GPLA underthe Heisei recession, and (-) the future anxiety of borrowers basing on slackening of the agriculturaleconomy. Implications for the reorganization of GPLA, the conclusion of this paper, is a thoroughgoing ofthe reform of the supplementary policy mesures to support private business by public finance, as well asthe whole financing of rural policy, ( + ) dissolving similar kinds of the loans, (,) restriction of the kinds ofGLPA based on financial logic ; the necessity of borrowing, by borrowers side, and (-)use as GPLA ofabundant money in the rural areas.