o:28396 Crop receipts as alternative financial instruments en Abstract: The aim of the paper is to provide insights into the lending against crop receipts mechanism. Crop receipts emerged as promising financial instruments creating an additional type of collateral for agricultural producers that pledge their future agricultural production in order to finance ongoing production activities. At the same time, they offer an alternative investment opportunity to banks through the creation of a new asset class. European Bank for Reconstruction and Development supported Serbia in establishing a crop receipt system with the aim to serve as a pilot project for Europe. This is the first analysis of the crop receipts system in Serbia. The methodology applied consists of interviews with bank representatives, extensive literature research, descriptive statistics and comparative analyses. Results are indicating that the main shortcomings in the crop receipts system include the lack of specialised shareholders' knowledge, the absence of subsidization of interest rates on loans against crop receipts followed by the lack of appropriate Central bank policy, standardization and securitization. Keywords: Agricultural finance innovations; Cédula de produto rural; Crop receipts; Preharvest financing 1552099 10.5937/ekoPolj2203849K 1552101 0352-3462 2023-03-28T08:03:25.040Z 44 no 46 Vlado Kovačević Institu za ekonomiku poljoprivrede Irena Janković Univerzitet u Beogradu Ekonomski fakultet person 14632551 0000-0003-1115-4702 Jelena Minović Institut ekonomskih nauka person application/pdf 548958 https://phaidrabg.bg.ac.rs/o:28396 no yes 21 70 92000002 11A03 Ekonomika poljoprivrede 69 3 849 861 2022