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Comparative Rents for Farmland and Timberland in a Subregion of the South

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  • Hardie, Ian W.

Abstract

This study compares equivalent annual rents for two alternative land uses in a region where farming and timber plantations coexist. The comparison is motivated by the possibility that rising timber prices may stimulate timber processors to compete for farmland. Prices, costs, and market rents are assumed to first follow existing trends and then to reach steady state values. Market rents are projected and capitalized for agriculture. Internal soil rents are capitalized for timber. The results show timber to have a comparative advantage on high fertility sites and suggest that timber might become a competitive land use at the intensive margin of the region's farmland base.

Suggested Citation

  • Hardie, Ian W., 1984. "Comparative Rents for Farmland and Timberland in a Subregion of the South," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 16(2), pages 45-54, December.
    • Handle: RePEc:cup:jagaec:v:16:y:1984:i:02:p:45-54_01
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    Cited by:

    1. Smith, S. Aaron & Popp, Michael P. & Nalley, Lawton Lanier & Brye, Kristofor R., 2012. "Modeling Pine as a Carbon-Sequestering Crop in Arkansas," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 41(2), pages 1-15, August.
    2. Harou, Patrice A. & Zheng, Chinlong & Zhang, Daowei, 2013. "The Alternative Test in forestry," Forest Policy and Economics, Elsevier, vol. 34(C), pages 41-46.
    3. Hongkun Ma & Hao Zhu & Shuhan Ren & Rudi Liu & Cuixia Qiao, 2023. "The Impact of Government-Led Farmland Construction on Market-Oriented Farmland Transfer—Evidence from Shandong, China," IJERPH, MDPI, vol. 20(4), pages 1-12, February.
    4. Newman, D.H., 2002. "Forestry's golden rule and the development of the optimal forest rotation literature," Journal of Forest Economics, Elsevier, vol. 8(1), pages 5-27.

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