Testing for regional convergence of agricultural land prices

被引：14
|
作者：
Yang, Xinyue [1 ]
Ritter, Matthias [1 ]
Odening, Martin [1 ]
机构：
[1] Humboldt Univ, Dept Agr Econ, Farm Management Grp, Fac Life Sci, Unter Linden 6, D-10099 Berlin, Germany
来源：
LAND USE POLICY | 2017年 / 64卷
关键词：
Agricultural land market; Law of one price; Spatial price convergence; UNIT-ROOT TESTS; PANEL-DATA; LAW; STATIONARITY; INTEGRATION; MARKET; STATES; MODEL;
D O I：
10.1016/j.landusepol.2017.02.030
中图分类号：
X [环境科学、安全科学];
学科分类号：
08 ; 0830 ;
摘要：
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 differences among regions. (C) 2017 Elsevier Ltd. All rights reserved.
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页码：64 / 75
页数：12
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