A Spatial Analysis of Agricultural Land Prices in Bavaria
This paper empirically analyses a dataset of more than 11,000 agricultural land sales transactions between 1999 and 2007 in order to identify the factors influencing agricultural land prices in Bavaria. The authors confirm strong spatial relationships in their dataset, and conclude that neglecting this leads to biased estimates, especially if aggregated data are used. They therefore use a general spatial model combining a spatial lag and a spatial error model, and find that the price of a specific plot increases by 32 cents/m2 when average sales prices in surrounding areas increase by €1.Research results also confirm the strong influence of land quality, urban pressure and land market structure, and that the involvement of public authorities as seller or buyer increases sales prices. The authors find that the Fischler Reform did not considerably change the market and its determinants.
|Date of creation:||Jun 2013|
|Date of revision:|
|Contact details of provider:|| Postal: |
Phone: (+322) 229-39-11
Fax: (+322) 229-39-71
Web page: http://www.ceps.eu
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.:
- Laure Latruffe & Chantal Le MouÃ«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.
- Cragg, John G. & Donald, Stephen G., 1993. "Testing Identifiability and Specification in Instrumental Variable Models," Econometric Theory, Cambridge University Press, vol. 9(02), pages 222-240, April.
- 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.
- Bernard Fingleton & Julie Le Gallo, 2008. "Estimating spatial models with endogenous variables, a spatial lag and spatially dependent disturbances: Finite sample properties," Papers in Regional Science, Wiley Blackwell, vol. 87(3), pages 319-339, 08.
- Haixiao Huang & Gay Y. Miller & Bruce J. Sherrick & Miguel I. G�mez, 2006. "Factors Influencing Illinois Farmland Values," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 88(2), pages 458-470.
- repec:rri:wpaper:201301 is not listed on IDEAS
- James LeSage & R. Kelley Pace, 2010. "Spatial Econometrics," Book Chapters, in: Web Book of Regional Science Regional Research Institute, West Virginia University.
- J. Barkley Rosser, 2009. "Introduction," Chapters, in: Handbook of Research on Complexity, chapter 1 Edward Elgar.
- Charles H. Barnard & Gerald Whittaker & David Westenbarger & Mary Ahearn, 1997. "Evidence of Capitalization of Direct Government Payments into U.S. Cropland Values," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 79(5), pages 1642-1650.
- Barry K. Goodwin & Ashok K. Mishra & Fran�ois N. Ortalo-Magné, 2003. "What's Wrong with Our Models of Agricultural Land Values?," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 85(3), pages 744-752.
- Saleem Shaik & Glenn A. Helmers & Joseph A. Atwood, 2005. "The Evolution of Farm Programs and Their Contribution to Agricultural Land Values," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 87(5), pages 1190-1197.
- Ian W. Hardie & Tulika A. Narayan & Bruce L. Gardner, 2001. "The Joint Influence of Agricultural and Nonfarm Factors on Real Estate Values: An Application to the Mid-Atlantic Region," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 83(1), pages 120-132.
- Anselin, Luc, 2002. "Under the hood : Issues in the specification and interpretation of spatial regression models," Agricultural Economics, Blackwell, vol. 27(3), pages 247-267, November.
- 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.
- Patton, Myles & Kostov, Philip & McErlean, Seamus & Moss, Joan, 2008. "Assessing the influence of direct payments on the rental value of agricultural land," Food Policy, Elsevier, vol. 33(5), pages 397-405, October.
- David M. Drukker & Ingmar Prucha & Rafal Raciborski, 2013. "A command for estimating spatial-autoregressive models with spatial-autoregressive disturbances and additional endogenous variables," Stata Journal, StataCorp LP, vol. 13(2), pages 287-301, June.
- Barry K. Goodwin & Ashok K. Mishra & François Ortalo-Magné, 2011.
"The Buck Stops Where? The Distribution of Agricultural Subsidies,"
NBER Working Papers
16693, National Bureau of Economic Research, Inc.
- Barry K. Goodwin & Ashok K. Mishra & François Ortalo-Magné, 2011. "The Buck Stops Where? The Distribution of Agricultural Subsidies," NBER Chapters, in: The Intended and Unintended Effects of U.S. Agricultural and Biotechnology Policies, pages 15-50 National Bureau of Economic Research, Inc.
- Gianfranco Piras, . "sphet: Spatial Models with Heteroskedastic Innovations in R," Journal of Statistical Software, American Statistical Association, vol. 35(i01).
- 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.
When requesting a correction, please mention this item's handle: RePEc:eps:fmwppr:162. 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: (Eleni Kaditi)
If references are entirely missing, you can add them using this form.