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Location determinants of agricultural land prices: Expected returns and location
Jönköping University, Jönköping International Business School, JIBS, Economics, Finance and Statistics. (CEnSE)
Jönköping University, Jönköping International Business School, JIBS, Economics, Finance and Statistics. (CEnSE)
2011 (English)Conference paper, Published paper (Refereed)
Abstract [en]

This paper presents a national-scale analysis of the determinants of agricultural land prices. The empirical analysis is based on an asset-pricing model that decomposes current agricultural land prices into two different components; returns to land in agricultural use and potential returns from the use of land in alternative sectors. In the empirical application of this model capitalization of returns related to agricultural use is captured by spatial variations in natural conditions for agricultural production and the size of government support to agriculture. Capitalization of returns to alternative use of land relate to local rural amenities and urban pressure in terms of accessibility conditions. The key findings are that land fertility, support to landowners in the form of decoupled single farm payments and accessibility to urban attributes are the main determinants of agricultural land prices.

Place, publisher, year, edition, pages
2011.
Keyword [en]
Accessibility, agricultural support payments, land prices, capitalization
Identifiers
URN: urn:nbn:se:hj:diva-15393OAI: oai:DiVA.org:hj-15393DiVA: diva2:423372
Conference
Western regional science association, 27 February -Mars 2, Monterey, CA, USA
Available from: 2011-06-15 Created: 2011-06-15

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Citation style
  • apa
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Output format
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