Spatial integration of agricultural land markets

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.


Issue Date:
Aug 28 2017
Publication Type:
Conference Paper/ Presentation
Language:
English
Total Pages:
12




 Record created 2017-08-04, last modified 2017-08-29

Fulltext:
Download fulltext
PDF

Rate this document:

Rate this document:
1
2
3
 
(Not yet reviewed)