Research for the presence and impact of correlation-regression dependencies on the price of farmlands

Stefan Asenov ()
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Stefan Asenov: University of Economics - Varna, Varna, Bulgaria

Izvestia Journal of the Union of Scientists - Varna. Economic Sciences Series, 2024, issue 2, 165-177

Abstract: The management of real estate, which includes agricultural land, is a matter of national security, food security for the population, and economic prosperity for every country. Farmland is part of both national and personal wealth. Agriculture is a key sector in both the material production system and the national economic system of Bulgaria. In this context, the significance of land resources (agricultural land) as an irreplaceable production factor at the core of the agri-food chain and as a new evolutionary investment asset is fundamental. This study aims to analyze the impact of correlation-regression dependencies on agricultural land prices. The study’s results have scientific value and practical application and are foundational in managerial decision-making, project management, risk assessment, and control for legislative, executive, and local authorities, agricultural enterprises, and, not least, personal finances. It concludes that of the ten examined independent variables, five have a coefficient of determination above 0.5, indicating that over 50% of the variance in the dataset of farmland prices (the dependent variable) can be explained by the values of these variables.

Keywords: farmland; agricultural land; investment asset; land price; land resources; dependencies (search for similar items in EconPapers)
JEL-codes: Q15 (search for similar items in EconPapers)
Date: 2024
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