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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. 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.
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  7. Ciaian, Pavel, & Kancs, d’Artis & Swinnen, Jo & Van Herck, Kristine & Vranken, Liesbet, 2012. "Rental Market Regulations for Agricultural Land in EU Member States and Candidate Countries," Factor Markets Working Papers 117, Centre for European Policy Studies.
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  11. 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.
  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., 2010. "Specification and estimation of spatial autoregressive models with autoregressive and heteroskedastic disturbances," Journal of Econometrics, Elsevier, vol. 157(1), pages 53-67, July.
  14. 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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