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Equilibrium of Land Values from Agricultural and General Economic Factors for Cropland and Pasture Capitalization in Georgia

Author

Listed:
  • Flanders, Archie
  • White, Fred C.
  • Escalante, Cesar L.

Abstract

Nonagricultural factors impact land values to cause a divergence of discounted cash rents for agricultural land and land values in Georgia. General economic factors are represented by per capita income in nonmetro areas. Cash rents for cropland and pasture have positive impacts on land values. Nonagricultural factors are stronger influences on land values than are cash rents. Greater effective demand exists for pasture than for cropland because pasture is subject to relatively more pricing pressure in northern counties with higher incomes and population. Increased land values have led to increased net wealth for Georgia agricultural producers.

Suggested Citation

  • Flanders, Archie & White, Fred C. & Escalante, Cesar L., 2004. "Equilibrium of Land Values from Agricultural and General Economic Factors for Cropland and Pasture Capitalization in Georgia," Journal of Agribusiness, Agricultural Economics Association of Georgia, vol. 22(1), pages 1-12.
    • Handle: RePEc:ags:jloagb:59605
    DOI: 10.22004/ag.econ.59605
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    File URL: https://ageconsearch.umn.edu/record/59605/files/S04-04.pdf
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    References listed on IDEAS

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    1. Lazarus, Bill & Taff, Steven J, 2000. "Minnesota Agricultural Economist 699," Minnesota Applied Economist\Minnesota Agricultural Economist 13198, University of Minnesota, Department of Applied Economics.
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    1. Ariel Ortiz‐Bobea, 2020. "The Role of Nonfarm Influences in Ricardian Estimates of Climate Change Impacts on US Agriculture," American Journal of Agricultural Economics, John Wiley & Sons, vol. 102(3), pages 934-959, May.
    2. Czyżewski, Bazyli, 2016. "Political Rents of European Farmers in the Sustainable Development Paradigm. International, national and regional perspective," MPRA Paper 74253, University Library of Munich, Germany.
    3. Jennifer Ifft & Ao Yu, 2021. "The Impact of Energy Production on Farmland Markets: Evidence from New York’s 2008 Hydraulic Fracturing Moratorium," The Energy Journal, , vol. 42(3), pages 133-152, May.
    4. Czyżewski, Bazyli & Trojanek, Radosław, 2016. "Drivers of agricultural land prices in terms of different functions of rural areas in Poland," Problems of Agricultural Economics / Zagadnienia Ekonomiki Rolnej 249742, Institute of Agricultural and Food Economics - National Research Institute (IAFE-NRI).
    5. Czyżewski, Bazyli & Polcyn, Jan, 2016. "Application of perpetual rent model to valorisation of agricultural land," Problems of Agricultural Economics / Zagadnienia Ekonomiki Rolnej 252638, Institute of Agricultural and Food Economics - National Research Institute (IAFE-NRI).
    6. Blank, Steven & Erickson, Kenneth & Hallahan, Charles, 2012. "Rising Farmland Values: An Indicator of Regional Economic Performance or a Speculative Bubble?," Journal of the ASFMRA, American Society of Farm Managers and Rural Appraisers, vol. 2012, pages 1-11.

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    Keywords

    Land Economics/Use;

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