Testing for regional convergence of agricultural land prices

• Autores: Xinyue Yang, Matthias Ritter, Martin Odening
• Localización: Land use policy: The International Journal Covering All Aspects of Land Use, ISSN 0264-8377, ISSN-e 1873-5754, Nº. 64, 2017, págs. 64-75
• Idioma: inglés
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• Dialnet Métricas: 1 Cita
• Resumen

  • 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.