This paper proposes an analytical model for evaluating the efficiency of investment in the purchase of agricultural land financed with financial instruments (bank loan). It is argued that investments in agricultural land are crucial for farm development, but financed by bank loans are not suitable for individual investors seeking returns from rent payments. Investing in agricultural land involves considering a variety of factors, including the level of subsidisation of agricultural production, the profitability of the agricultural products produced, the country's tax system, access to credit resources, inflationary processes in the economy, etc.
Antonellia, M., Siciliano, G., & Turvania, M. E. (2015). Global investments in agricultural land and the role of the EU: Drivers, scope and potential impacts. Land UsePolicy, 47, 98-111.
De Schutter, O. (2009). Large-scale land acquisitions and leases: a set core of principles and measures to address the human rights challenge. Извлечено от https://www.oecd.org/site/swacmali2010/44031283.pdf
FAO. (2013). Climate-Smart Agriculture. Sourcebook. FAO.
FAO. (2014). Principles for Responsible Investment in Agriculture and Food Systems. FAO. Извлечено от http://www.fao.org/cfs
FAO. (2021). The State of the World’s Land and Water Resources for Food and Agriculture – Systems at breaking point. Synthesis report 2021. Rome: FAO. doi:10.4060/cb7654en
fi-compass. (2020 а). Financial needs in the agriculture and agri-food sectors in the European Union. Summary report.
fi-compass. (2020 b). Financial needs in the agriculture and agri-food sectors in Bulgaria. Study report.
Han, J., Jiang, M., Zhang, X., & Lu, X. (2021). Knowledge Mapping Analysis of Transnational Agricultural Land Investment Research. Land, 10, 15. doi:10.3390/land10121374
Ivanova, P. (2021). Tax Treatment of Land Resources. Sustainable Land Management - Current Practicies and Solutions, National discussion organized by the Department of Agricultural economics at University of Economics – Varna, 15 November 2019 (pp. 93-103). Varna: Nauka i ikonomika. doi:10.36997/SLM2019.93
Kirechev, D. (2019). Impact of Bank Lending on Development of the Agricultural Sector in Bulgaria. International Scientific Conference EMAN – Economics & Management: How to Cope with Disrupted Times, March 28, 2019 (pp. 201-210). Ljubljana, Slovenia: Association of Economists and Managers of the Balkans ... [et al.]. doi:10.31410/EMAN.S.P.2019.201
Kirechev, D. (2021). Improving Access to Finance For Agricultural Holdings as a Factor for the Sustainability of Agricultural Financing in Bulgaria. Trakia Journal of Sciences, 19, Suppl. 1, 192-206. doi:10.15547/tjs.2021.s.01.030
Kirechev, D. (2021). Land Use in Bulgaria - Condition and Trends. Sustainable Land Management - Current Practicies and Solutions, National discussion organized by the Department of Agricultural economics at University of Economics – Varna, 15 November 2019 (pp. 45-66). Varna: Nauka i ikonomika. doi:10.36997/SLM2019.45
Kucher, A. (2018). Methodical bases of evaluation of investment attractiveness of land use of agricultural enterprises. ВІСНИК економічної науки України, 34(1), 77-85.
Kucher, A. (2022). Financial Support for the Sustainable Competitiveness of Land Use: Trends and Opportunities. Scientific Papers Series Management, Economic Engineering in Agriculture and Rural Development, 22(1), 359-370.
Lawrya, S., Samiib, C., Hallc, R., Leopoldd, A., Hornbyc, D., & Mteroc, F. (2017). The impact of land property rights interventions on investment and agricultural productivity in developing countries: a systematic review. Journal of Development Effectiveness, 9(1), 61-81. doi:10.1080/19439342.2016.1160947
Mihailova, M. (2022). Relationship between rent prices and agricultural land prices. Bulgarian Journal of Agricultural Science, 28(1), 26–35.
Ministry of Agriculture. (2022). BANSIK 2022. Okonchatelni rezultati za zaetostta i izpolzvaneto na teritoriyata na Bulgaria prez 2022 godina. Ministry of Agriculture, Agrostatistika, Sofia. Изтеглено на october 2022 r.
National Statistical Institute. (2022). Land use distribution of the Republic of Bulgaria. Sofia. Извлечено от https://www.nsi.bg/en/content/19674/land-use-distribution-republic-bulgaria
Nuveen. (н.д.). Investing in farmland. https://www.nuveen.com/global/insights/alternatives/investing-in-farmland
Sakhnо, A., Polishchuk, N., Salkova, I., & Kucher, A. (2019). Impact of Credit and Investment Resources on the Productivity of Agricultural Sector. European Journal of Sustainable Development, 8(2), pp. 335-345. doi:10.14207/ejsd.2019.v8n2p335
Stanimirova, M. (2021). Land Relations and Lease of Agricultural Land in Bulgaria - Trends, Legal Grounds and Prospect for Development. Innovative Development of Agricultural Business and Rural Areas (pp. 52-57). Sofia: UNWE.
Stanimirova, M., & Hristova, S. (2014). Upravlenie na pozemlenite resursi. Varna: Nauka i ikonomika.
Vlaev, M. (2020). The Purchase of Agricultural Land a Well Thought out Process in the Agribusiness Enterprises. IZVESTIA, Journal of the Union of Scientist - Varna, 9(3), 40-47. doi:10.36997/IJUSV-ESS/2020.9.3.40
Vlaev, M. (2021). Purchase Arable Land with Financing Instrument - the Key Component for Sustainable Development of Farm. Sustainable Land Management - Current Practicies and Solutions, National discussion organized by the Department of Agricultural economics at University of Economics – Varna, 15 November 2019 (pp. 83-92). Varna: Nauka i ikonomika.
Yovchevska, P., Krishkova, I., Stoeva, T., Dirimanova, V., Georgiev, M., Dimitrova, D., & Venev, V. (2019). Pozemleni otnoshenia: teoria, praktika, perspektivi. Sofia: Institut po agrarna ikonomika.
Yovchevska, P., Mihailova, M., & Koteva, N. (2022). Land Use in Bulgarian Agricultural Holdings and the Common Agricultural Policy. Economic Studies (Ikonomicheski Izsledvania), 31(4), 145-165.
Yovchevska, Y., Anastasova-Chopeva, M., Vzhohalska, A., Georgiev, M., Stanimirova, M., Dimitrova, D., & Mihaylova, M. (2020). Pozemlenite otnoshenia: dinamika i badeshti promeni. Sofia: Institut po agrarna ikonomika.
