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Effects Of Ownership Restrictions On Farmland Values In Saskatchewan

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  • Carlberg, Jared G.
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    Abstract

    Restrictions on the ownership of farmland by nonresidents of Saskatchewan were imposed by the Farmland Security Act (FSA) in 1974. The FSA has been blamed by some observers for depressed provincial land values. An adaptive expectations present value model is developed to estimate the effects of the FSA, with the province of Alberta included as a control. Results of seemingly unrelated regressions and generalized autoregressive conditional hetereoscedasticity estimates find no statistically significant effect of the FSA on the value of land in Saskatchewan. This may indicate that the effect of the regulatory change is too small to be measured accurately.

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    Bibliographic Info

    Article provided by Southern Agricultural Economics Association in its journal Journal of Agricultural and Applied Economics.

    Volume (Year): 34 (2002)
    Issue (Month): 02 (August)
    Pages:

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    Handle: RePEc:ags:joaaec:15473

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    Web page: http://www.saea.org/jaae/jaae.htm
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    Related research

    Keywords: adaptive expectations; Farmland Security Act; generalized autoregressive conditional heteroscedasticity; present value; seemingly unrelated regressions; Land Economics/Use; C51; G21; Q18;

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    1. Brannman, Lance & Klein, J Douglass & Weiss, Leonard W, 1987. "The Price Effects of Increased Competition in Auction Markets," The Review of Economics and Statistics, MIT Press, vol. 69(1), pages 24-32, February.
    2. Falk, Barry L., 1991. "Formally Testing the Present Value Model of Farmland Prices," Staff General Research Papers 11093, Iowa State University, Department of Economics.
    3. Alfons Weersink & Steve Clark & Calum G. Turvey & Rakhal Sarker, 1999. "The Effect of Agricultural Policy on Farmland Values," Land Economics, University of Wisconsin Press, vol. 75(3), pages 425-439.
    4. Peter Kennedy, 2003. "A Guide to Econometrics, 5th Edition," MIT Press Books, The MIT Press, edition 5, volume 1, number 026261183x, December.
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    Cited by:
    1. Bell, Peter N, 2014. "Farmland Ownership Policy: Technical Paper," MPRA Paper 53185, University Library of Munich, Germany.
    2. Bell, Peter N, 2014. "Farmland Ownership Restrictions: Between a Rock and a Hard Place," MPRA Paper 53033, University Library of Munich, Germany.
    3. Feichtinger, Paul & Salhofer, Klaus, 2011. "The Valuation of Agricultural Land and the Influence of Government Payments," Working Papers 119103, Factor Markets, Centre for European Policy Studies.
    4. Feichtinger, Paul & Salhofer, Klaus, 2011. "The Valuation of Agricultural Land and the Influence of Government Payments," Factor Markets Working Papers 112, Centre for European Policy Studies.

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