The Timing of Rapid Farmland Conversion Events: Evidence from California's Differential Assessment Program

Kent Kovacs ()

No 49252, 2009 Annual Meeting, July 26-28, 2009, Milwaukee, Wisconsin from Agricultural and Applied Economics Association

Abstract: Using county-level panel data, we estimate duration models to study the timing of rapid farmland conversion events. Results suggest that income and the proximity to major highways are the principal determinants of rapid conversion events (and also responsible for prolonging these events). In particular, an increase in income of 1% is found to hasten the time to a rapid conversion event by 111% and to extend the time back to a slow state of conversion by 76%. On the other hand, valuable agricultural land and high property taxes extend the time to a rapid conversion event (and also hasten the time back to a slow state of conversion). An increase in the value of agricultural production per acre extends the time to a rapid conversion event by 14% and hastens the time to a slow state of conversion by 106%. Knowledge about the timing of rapid farmland conversion will help counties to better predict infrastructure needs and take steps to mitigate the traffic and environmental impacts.

Keywords: Agricultural Finance; Land Economics/Use (search for similar items in EconPapers)
Pages: 34
Date: 2009
New Economics Papers: this item is included in nep-agr
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea09:49252

DOI: 10.22004/ag.econ.49252

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