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The role of environmental and land transaction regulations on agricultural land price: The example of the French region Brittany

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  • Laure Latruffe
  • Jean Joseph Minviel
  • Julien Salanié

Abstract

In this paper, we investigate how environmental and land transaction regulations influence the price of agricultural plots sold in France. We use data from individual transactions for the period 1994-2010 in the NUTS2 region Brittany. Estimations were performed both ignoring and accounting for spatial interactions (model SARAR). Regressions on three sub-samples of buyers were performed in order to assess whether different buyers have different attitudes or plans regarding the purchased farmland: a sub-sample including only farmer buyers; a sub-sample including non-farmer individual buyers and; a sub-sample including non-farmer non-individual buyers. Results indicate that the price of land is lower when buyers are farmers, that the nitrate surplus area zoning increases the price of land, even more so for farmer buyers. Regarding land transaction regulations, there is a negative effect, on land price, of the purchaser being the current tenant or being the land regulating public body SAFER. Estimating the model on different sub-samples depending on the buyers’ type sheds light on the factors which are more important for each type.

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Bibliographic Info

Paper provided by INRA UMR SMART in its series Working Papers SMART - LERECO with number 13-11.

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Length: 24 pages
Date of creation: 2013
Date of revision:
Handle: RePEc:rae:wpaper:201311

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Keywords: farmland price; individual transactions; environmental regulations; SAFER regulation; spatial econometrics; Brittany (France);

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  1. Ciaian, Pavel & Kancs, d'Artis & Swinnen, Johan F.M. & Van Herck, Kristine & Vranken, Liesbet, 2012. "Rental Market Regulations for Agricultural Land in EU Member States and Candidate Countries," Working Papers 120250, Factor Markets, Centre for European Policy Studies.
  2. Jean-Pierre Boinon, 2011. "Les politiques foncières agricoles en France depuis 1945," Économie et Statistique, Programme National Persée, vol. 444(1), pages 19-37.
  3. David M. Henneberry & Richard L. Barrows, 1990. "Capitalization of Exclusive Agricultural Zoning into Farmland Prices," Land Economics, University of Wisconsin Press, vol. 66(3), pages 249-258.
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  5. Ciaian, Pavel & Kancs, d'Artis & Swinnen, Johan F.M. & Van Herck, Kristine & Vranken, Liesbet, 2012. "Sales Market Regulations for Agricultural Land in EU Member States and Candidate Countries," Working Papers 120249, Factor Markets, Centre for European Policy Studies.
  6. Plantinga, Andrew J. & Lubowski, Ruben N. & Stavins, Robert N., 2002. "The effects of potential land development on agricultural land prices," Journal of Urban Economics, Elsevier, vol. 52(3), pages 561-581, November.
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  8. Laure Latruffe & Chantal Le Mou�l, 2009. "Capitalization Of Government Support In Agricultural Land Prices: What Do We Know?," Journal of Economic Surveys, Wiley Blackwell, vol. 23(4), pages 659-691, 09.
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  10. Pavel Ciaian & d’Artis Kancs & Johan Swinnen, 2010. "EU Land Markets and the Common Agricultural Policy," EERI Research Paper Series EERI_RP_2010_47, Economics and Econometrics Research Institute (EERI), Brussels.
  11. Myles Patton & Seamus McErlean, 2003. "Spatial Effects within the Agricultural Land Market in Northern Ireland," Journal of Agricultural Economics, Wiley Blackwell, vol. 54(1), pages 35-54.
  12. 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.
  13. Kelejian, Harry H & Prucha, Ingmar R, 1999. "A Generalized Moments Estimator for the Autoregressive Parameter in a Spatial Model," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 40(2), pages 509-33, May.
  14. Swamy, P A V B, 1970. "Efficient Inference in a Random Coefficient Regression Model," Econometrica, Econometric Society, vol. 38(2), pages 311-23, March.
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