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The Changing Roles of Urban Influence and Agricultural Productivity in Farmland Price Determination

The Changing Roles of Urban Influence and Agricultural Productivity in Farmland Price Determination <p>ABSTRACT:</p><p>Between 2000 and 2010, inflation-adjusted U.S. farmland values increased by over 80%. This period of rapid price appreciation coincided with both the agricultural commodity price boom and the broader financial crisis. This paper examines the degree to which the determinants of farmland prices changed over this period, using a panel of farmland transfer declarations from 98 Illinois counties. Hedonic price analysis demonstrates that the relative importance of urban influence decreased over this period, while the relative importance of agricultural productivity increased. The study carries important implications for farmers, farmland owners, and policy makers</p> http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Land Economics University of Wisconsin Press

The Changing Roles of Urban Influence and Agricultural Productivity in Farmland Price Determination

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Publisher
University of Wisconsin Press
Copyright
Copyright by the Board of Regents of the University of Wisconsin System.
ISSN
1543-8325

Abstract

<p>ABSTRACT:</p><p>Between 2000 and 2010, inflation-adjusted U.S. farmland values increased by over 80%. This period of rapid price appreciation coincided with both the agricultural commodity price boom and the broader financial crisis. This paper examines the degree to which the determinants of farmland prices changed over this period, using a panel of farmland transfer declarations from 98 Illinois counties. Hedonic price analysis demonstrates that the relative importance of urban influence decreased over this period, while the relative importance of agricultural productivity increased. The study carries important implications for farmers, farmland owners, and policy makers</p>

Journal

Land EconomicsUniversity of Wisconsin Press

Published: Apr 17, 2018

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