A comparison of farmland value determinants in Chile between 1978-1998 and 1999-2008

Research on the determinants that influence the price of farmland has found renewed interest in the past decade because agricultural land values are an important source of information for tracing the distribution of benefits generated by agricultural growth. This study's objective is to identif...

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Autores principales:	Donoso,Guillermo, Cancino,José, Olguín,Ricardo, Schonhaut,Daniela
Lenguaje:	English
Publicado:	Pontificia Universidad Católica de Chile. Facultad de Agronomía e Ingeniería Forestal 2013
Materias:	Agricultural land value determinants of agricultural land value hedonic agricultural land value model
Acceso en línea:	http://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0718-16202013000100007
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spelling	oai:scielo:S0718-162020130001000072014-09-08A comparison of farmland value determinants in Chile between 1978-1998 and 1999-2008Donoso,GuillermoCancino,JoséOlguín,RicardoSchonhaut,Daniela Agricultural land value determinants of agricultural land value hedonic agricultural land value model Research on the determinants that influence the price of farmland has found renewed interest in the past decade because agricultural land values are an important source of information for tracing the distribution of benefits generated by agricultural growth. This study's objective is to identify the determinants of the value of agricultural land in Chile for the periods 1978-1998 and 1999-2008 to analyze the evolution of the factors that determined the price of agricultural land between these two periods. The explanatory power of the estimated hedonic land price model is significantly greater for the period 1978-1998 (R²= 67%). The lower explanatory power of the model for the period 1999-2008 (R²= 29%) indicates that factors not accounted for in the model have increased its importance during the past decade. Thus, a different set of factors determines farmland value for each time period. Further research is required to identify the determining factors of farmland value during the last decade. Some variables maintained their relative importance during both time periods. Such is the case of the importance of the distance between the farm and Santiago, which ranked second in both periods, and total farm surface, which ranked fifth. All other variables present changes in their relative importance. The price trend increased from the third to the first rank in the last decade. The price of the most important agricultural product increased 5 positions and was ranked third during the period 1999-2008. The distance of the farm to the regional capital increases from its previous position in 1978-1998 to the fourth position during the last decade. Other factors that increased their importance are the interaction between the distance to Santiago with the time trend and the presence of construction. The variables that reduce their relative importance are the farmland aptitude variables.info:eu-repo/semantics/openAccessPontificia Universidad Católica de Chile. Facultad de Agronomía e Ingeniería ForestalCiencia e investigación agraria v.40 n.1 20132013-04-01text/htmlhttp://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0718-16202013000100007en10.4067/S0718-16202013000100007
institution	Scielo Chile
collection	Scielo Chile
language	English
topic	Agricultural land value determinants of agricultural land value hedonic agricultural land value model
spellingShingle	Agricultural land value determinants of agricultural land value hedonic agricultural land value model Donoso,Guillermo Cancino,José Olguín,Ricardo Schonhaut,Daniela A comparison of farmland value determinants in Chile between 1978-1998 and 1999-2008
description	Research on the determinants that influence the price of farmland has found renewed interest in the past decade because agricultural land values are an important source of information for tracing the distribution of benefits generated by agricultural growth. This study's objective is to identify the determinants of the value of agricultural land in Chile for the periods 1978-1998 and 1999-2008 to analyze the evolution of the factors that determined the price of agricultural land between these two periods. The explanatory power of the estimated hedonic land price model is significantly greater for the period 1978-1998 (R²= 67%). The lower explanatory power of the model for the period 1999-2008 (R²= 29%) indicates that factors not accounted for in the model have increased its importance during the past decade. Thus, a different set of factors determines farmland value for each time period. Further research is required to identify the determining factors of farmland value during the last decade. Some variables maintained their relative importance during both time periods. Such is the case of the importance of the distance between the farm and Santiago, which ranked second in both periods, and total farm surface, which ranked fifth. All other variables present changes in their relative importance. The price trend increased from the third to the first rank in the last decade. The price of the most important agricultural product increased 5 positions and was ranked third during the period 1999-2008. The distance of the farm to the regional capital increases from its previous position in 1978-1998 to the fourth position during the last decade. Other factors that increased their importance are the interaction between the distance to Santiago with the time trend and the presence of construction. The variables that reduce their relative importance are the farmland aptitude variables.
author	Donoso,Guillermo Cancino,José Olguín,Ricardo Schonhaut,Daniela
author_facet	Donoso,Guillermo Cancino,José Olguín,Ricardo Schonhaut,Daniela
author_sort	Donoso,Guillermo
title	A comparison of farmland value determinants in Chile between 1978-1998 and 1999-2008
title_short	A comparison of farmland value determinants in Chile between 1978-1998 and 1999-2008
title_full	A comparison of farmland value determinants in Chile between 1978-1998 and 1999-2008
title_fullStr	A comparison of farmland value determinants in Chile between 1978-1998 and 1999-2008
title_full_unstemmed	A comparison of farmland value determinants in Chile between 1978-1998 and 1999-2008
title_sort	comparison of farmland value determinants in chile between 1978-1998 and 1999-2008
publisher	Pontificia Universidad Católica de Chile. Facultad de Agronomía e Ingeniería Forestal
publishDate	2013
url	http://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0718-16202013000100007
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A comparison of farmland value determinants in Chile between 1978-1998 and 1999-2008

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