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The four stages of agricultural development are:

The case studies of Germany, the US, and South Korea reveal four largely linear stages of agricultural finance development within each country. These stages are differentiated by sources of farm debt, government roles, and the nature of farm structure and productivity. This briefing classifies these stages of agricultural finance development as:
1. The informally-served stage
2. The government-entry stage
3. The bank-based stage
4. The market-based stage