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The Effect of the Conservation Reserve Program on Land Values

The Effect of the Conservation Reserve Program on Land Values This paper evaluates the effects of the Conservation Reserve Program (CRP) on land values. A theoretical model is presented to analyze the interaction between farmers' CRP participation decisions and land values. Empirical models are estimated to evaluate the effects of the CRP on land values. Results suggest that CRP participation had the largest effects in the Mountain, Southern Plains, and Northern Plains regions, where it increased average farmland values by 5% to 14%, 4% to 6%, and 2% to 5%, respectively. The CRP also had a statistically significant effect on developed land values, but the percentage increases were smaller. Implications of the results for the design of conservation programs are discussed. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Land Economics University of Wisconsin Press

The Effect of the Conservation Reserve Program on Land Values

Land Economics , Volume 86 (1) – Apr 4, 2012

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Publisher
University of Wisconsin Press
ISSN
1543-8325

Abstract

This paper evaluates the effects of the Conservation Reserve Program (CRP) on land values. A theoretical model is presented to analyze the interaction between farmers' CRP participation decisions and land values. Empirical models are estimated to evaluate the effects of the CRP on land values. Results suggest that CRP participation had the largest effects in the Mountain, Southern Plains, and Northern Plains regions, where it increased average farmland values by 5% to 14%, 4% to 6%, and 2% to 5%, respectively. The CRP also had a statistically significant effect on developed land values, but the percentage increases were smaller. Implications of the results for the design of conservation programs are discussed.

Journal

Land EconomicsUniversity of Wisconsin Press

Published: Apr 4, 2012

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