Determinants of foreign land acquisitions in low- and middle-income countries

Jann Lay and Kerstin Nolte

Journal of Economic Geography, 2018, vol. 18, issue 1, 59-86

Abstract: This article analyses the determinants of growing demand for agricultural land in developing countries. We propose some determinants that are specific to foreign acquisitions of agricultural land as a subset of agricultural foreign direct investment (FDI) and empirically examine the corresponding locational choice. Using a gravity model and a data set on land acquisitions worldwide, we find that the determinants partly overlap with those for other forms of FDI but are specific in certain regards. Rich investors target (poorer) economies with abundant land and water resources, and the effects of the quality of institutions are ambiguous.

Keywords: Foreign direct investment (FDI); large-scale land acquisitions; agricultural investments; gravity model (search for similar items in EconPapers)
JEL-codes: F21 O13 Q15 Q32 (search for similar items in EconPapers)
Date: 2018
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Citations: View citations in EconPapers (15)

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