The evolution of land values in Italy. Does the influence of agricultural prices really matter?
Interest towards farmland market has been increasing in recent years. In developing countries there is rising concern about land being purchased by foreign investors, while in the developed world the debate is centred on whether agricultural factors are still the main determinants of land values or not. This work assesses the determinants of land values in Italy using panel data techniques during the time span 1992-2010. In Italy farmland values have historically been influenced more by natural characteristics of the land than agricultural prices. However, lately non-agricultural factors have been increasing their importance. We find that agricultural prices only slightly affect average land values in Italy. Main determinants of land prices are the yield from real estate investment, GDP per capita, house prices, and population density. For arable land also environmental regulations for livestock farms positively affects values.
|Date of creation:||23 Feb 2012|
|Date of revision:|
|Contact details of provider:|| Web page: http://www.eaae.orgEmail: |
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Christopher Johnson, 1990. "Farml And As A Business Asset," Journal of Agricultural Economics, Wiley Blackwell, vol. 41(2), pages 135-148.
- Hausman, Jerry A, 1978.
"Specification Tests in Econometrics,"
Econometric Society, vol. 46(6), pages 1251-71, November.
- Weerahewa, Jeevika & Meilke, Karl D. & Vyn, Richard J. & Haq, Zahoor Ul, 2008. "The Determinants of Farmland Values in Canada," Working Papers 43461, Canadian Agricultural Trade Policy Research Network.
- Ciaian, Pavel & Kancs, d'Artis & Swinnen, Johan F.M., 2012.
"European Union Land Markets and the Common Agricultural Policy,"
2012 Conference, August 18-24, 2012, Foz do Iguacu, Brazil
126683, International Association of Agricultural Economists.
- Pavel Ciaian & d’Artis Kancs & Johan Swinnen, 2010. "EU Land Markets and the Common Agricultural Policy," Journal of Economics and Econometrics, Economics and Econometrics Society, vol. 53(3), pages 1-31.
- 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.
- Pavel Ciaian & d'Artis Kancs & Jerzy Michalek, 2011.
"SPS Capitalization into Land Value : Generalized Propensity Score Evidence from the EU,"
LICOS Discussion Papers
29311, LICOS - Centre for Institutions and Economic Performance, KU Leuven.
- Jerzy Michalek & Pavel Ciaian & d’Artis Kancs, 2014. "Capitalization of the Single Payment Scheme into Land Value: Generalized Propensity Score Evidence from the European Union," Land Economics, University of Wisconsin Press, vol. 90(2), pages 260-289.
- Michalek, Jerzy & Ciaian, Pavel & Kancs, d'Artis, 2014. "Capitalization of the Single Payment Scheme into Land Value: Generalized Propensity Score Evidence from the EU," 2014 International Congress, August 26-29, 2014, Ljubljana, Slovenia 186378, European Association of Agricultural Economists.
- Arellano, Manuel & Bond, Stephen, 1991.
"Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations,"
Review of Economic Studies,
Wiley Blackwell, vol. 58(2), pages 277-97, April.
- Tom Doan, . "RATS program to replicate Arellano-Bond 1991 dynamic panel," Statistical Software Components RTZ00169, Boston College Department of Economics.
- Seong-Hoon Cho & Christopher D. Clark & William M. Park & Seung Gyu Kim, 2009. "Spatial and Temporal Variation in the Housing Market Values of Lot Size and Open Space," Land Economics, University of Wisconsin Press, vol. 85(1), pages 51-73.
- Claire G. Jack & Joan E. Moss & Michael T. Wallace, 2009. "Summary," EuroChoices, The Agricultural Economics Society, vol. 8(3), pages 29-36, December.
When requesting a correction, please mention this item's handle: RePEc:ags:eaa123:122479. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (AgEcon Search)
If references are entirely missing, you can add them using this form.