当前位置: X-MOL 学术Can. J. Agric. Econ. › 论文详情
Our official English website, www.x-mol.net, welcomes your feedback! (Note: you will need to create a separate account there.)
Prices paid for farmland in Ontario: Does buyer type matter?
Canadian Journal of Agricultural Economics ( IF 9 ) Pub Date : 2020-08-23 , DOI: 10.1111/cjag.12253
Richard J. Vyn 1 , Max Zongyuan Shang 2
Affiliation  

In the wake of the substantial increases in farmland values that have occurred in Ontario since 2008, concerns have been expressed regarding the potential influence of nonfarmer buyers, such as investment companies and foreign buyers, on prices paid for farmland. To examine whether these concerns may be warranted, this paper estimates the impact of nonfarmer buyers on sale prices for farmland in Ontario, using a hedonic approach and farmland sales data from 2002 to 2016. Analysis is also conducted to determine whether marginal implicit prices of specific farm attributes differ between farmer buyers and nonfarmer buyers. The results indicate that nonfarmer buyers have paid higher prices for farmland, but only in near‐urban areas. In addition, differences in marginal implicit prices for farmland attributes are found, where farmer buyers value more highly attributes related to the agricultural productivity of the property while nonfarmer buyers value more highly attributes related to nonagricultural use. These results imply that the higher prices paid by nonfarmers may be attributable to the bid‐rent theory, as nonfarmers may be bidding more than farmers for farmland in near‐urban areas due to higher expected returns from future urban use of the land.

中文翻译:

支付安大略省耕地的价格:买方类型重要吗?

自2008年以来,安大略省的农田价格大幅上涨之后,人们对非农购买者(如投资公司和外国购买者)对支付的耕地价格的潜在影响表示担忧。为了检验是否值得考虑这些问题,本文使用享乐主义方法和2002年至2016年的农田销售数据,估算了非农购买者对安大略省农田销售价格的影响。还进行了分析以确定特定农产品的边际隐含价格农民购买者和非农民购买者的农场属性不同。结果表明,非农民购买者为农田支付了更高的价格,但仅在近郊地区。此外,还发现了农田属性的边际隐性价格差异,其中,农民购买者重视与该产业的农业生产力相关的较高属性,而非农民购买者重视与非农业使用相关的较高属性。这些结果表明,非农民支付的较高价格可能归因于投标租用理论,因为由于未来城市土地使用的预期收益较高,非农民可能会以高于农民的价格竞标近郊地区的耕地。
更新日期:2020-08-23
down
wechat
bug