o:28402 Lending against warehouse receipts evidence from Serbia en Abstract: The paper examines factors influencing development of the public warehouse system. Public warehouse system primary role is to provide stakeholders in agribusiness financing against stored commodity as collateral. Case study is conducted in Serbia. Interviews with banks, analyses of the public warehouse results, computational analyses and intensive literature research were conducted. Most important factors for lending against warehouse receipts from bankers' perspectives are guarantee system performances followed by efficient enforcement procedure, efficient public warehouse surveillance, favourable central bank's rating of warehouse receipts and subsidies. According to the results, Serbian public warehouse legal framework is properly established resulting in fast development of the public warehouse system in first years. After 2014 system deteriorated primarily due to the absence of inspection and Indemnity fund low guarantee performance. Lessons learned from Serbia point out that besides proper legal framework, implementation and favourable business environment are paramount for successful public warehouse system. Project: 451-03-9/2021-14 Keywords: warehouse receipts; public warehouses; agricultural loans; indemnity fund 1552099 10.5937/ekoPolj2102341K 1552101 0352-3462 2023-03-28T08:22:21.335Z 44 no 46 Vlado Kovačević Institut za ekonomiku poljoprivrede Irena Janković Univerzitet u Beogradu Ekonomski fakultet person 14632551 0000-0003-1115-4702 Vesna Paraušić Institut za ekonomiku poljoprivrede person application/pdf 293953 https://phaidrabg.bg.ac.rs/o:28402 no yes 21 70 92000001 11A03 Ekonomika poljoprivrede 68 2 341 355 2021