Spatial integration of agricultural land markets
Xinyue Yang and
Martin Odening ()
No 261430, 2017 International Congress, August 28-September 1, 2017, Parma, Italy from European Association of Agricultural Economists
The focus of this paper is on spatial market integration in agricultural land markets. We scrutinize the applicability of the law of one price to land markets and distinguish between absolute and relative versions of this “law”. Panel data unit root and stationarity tests are applied to land sale prices in the German state Lower Saxony. Three main clusters with different price developments are detected. Our results indicate that the law of one price holds only locally due to structural differ-ences among regions.
Keywords: Land; Economics/Use (search for similar items in EconPapers)
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Working Paper: Spatial Integration of Agricultural Land Markets (2017)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:eaae17:261430
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