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Towards diverging land prices in agricultural districts? Evidence from Italy before and after the great crisis

Author

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  • Emma Bruno

    (3 Department of Methods and Models for Economics, Territory and Finance, Faculty of Economics, Sapienza University of Rome, Rome, Italy)

  • Rosalia Castellano
  • Gennaro Punzo

    (3 Department of Methods and Models for Economics, Territory and Finance, Faculty of Economics, Sapienza University of Rome, Rome, Italy)

  • Luca Salvati

Abstract

In recent decades, farmland markets have risen sharply due to their attractiveness as safe investment and savings allocation instruments. This growth has occurred globally at different rates due to the uneven expected returns, and potential land uses in different regions. This paper provides evidence of the convergence of Italian farmland markets between 1990 and 2019 by using data on average land prices with a geographically detailed resolution that considers both administrative and altitude aspects of territories. The analysis combines traditional economic convergence approaches with spatial data exploration techniques. The results are consistent and show that territorial disparities in Italian farmland markets tend to increase over the study period. This proves that divergence patterns reflect the well-established North-South dualism and disparities in socio-economic characteristics.

Suggested Citation

  • Emma Bruno & Rosalia Castellano & Gennaro Punzo & Luca Salvati, 2023. "Towards diverging land prices in agricultural districts? Evidence from Italy before and after the great crisis," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 69(3), pages 119-127.
    • Handle: RePEc:caa:jnlage:v:69:y:2023:i:3:id:395-2022-agricecon
    DOI: 10.17221/395/2022-AGRICECON
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