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A Panel Data Analysis of the Determinants of Farmland Price: An Application to the Effects of the 1992 Cap Reform in Belgium AgEcon
Duvivier, Romain; Gaspart, Frederic; Frahan, Bruno Henry de.
This study identifies the effects of the 1992 and subsequent CAP reforms on arable farmland price in Belgium. We first propose a brief literature review of studies identifying the determinants of farmland price. Afterwards, we use a panel data set to estimate a capitalization model of farmland price. We first show that the compensatory payments introduce by the 1992 CAP reform exert a positive effect on the arable farmland price in Belgium. We also identify a structural break in the land price equation after the adoption of the new support instruments as well as a regional break between Wallonia and Flanders.
Tipo: Conference Paper or Presentation Palavras-chave: Farmland price; Land market; Common Agricultural Policy; Capitalization of agricultural support; Agricultural and Food Policy; Land Economics/Use; Q10; Q15; Q18.
Ano: 2005 URL: http://purl.umn.edu/24577
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