A Panel Data Analysis of the Determinants of Farmland Price: An Application to the Effects of the 1992 Cap Reform in Belgium

Romain Duvivier, Frédéric Gaspart () and Bruno Henry de Frahan

No 24577, 2005 International Congress, August 23-27, 2005, Copenhagen, Denmark from European Association of Agricultural Economists

Abstract: 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.

Keywords: Agricultural and Food Policy; Land Economics/Use (search for similar items in EconPapers)
Pages: 16
Date: 2005
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Citations: View citations in EconPapers (24)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:eaae05:24577

DOI: 10.22004/ag.econ.24577

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