Property rights and the rural land market in Latin America

Includes bibliography

Effects of 2013 Cap reform on land market: regionalized farm payments and changes in farmers’ intended behaviour

The CAP reform process has been a central issue for agricultural economics research in recent years, and is gaining further attention in view of the post-2013 perspectives (Viaggi et al., 2010; Bartolini et al., 2011). Today the CAP is in the middle of a new reform process. Through the debate generated by the official proposals, published in October 2011 (COM(2011)625/3), the European Union (EU) engaged in a revision of the CAP ended on 26 June 2013 when a political agreement has been reached (IP/13/613, MEMO-13-621 and IP/13/864). In particular, in Italy the switch of the payment regime from historical to regional bases will take place. The underlying assumption is that the shift to regionalized payments changes the remuneration of inputs and has an impact on farmers’ allocation of fixed resources. In this context, farmers are expected to adjust their plans to the new policy environment as the regionalization of support is meant to create a change in incentives faced by farmers. The objective of this thesis is to provide an ex-ante analysis of the potential impact of the introduction of regionalized payments, within the post-2013 CAP reform, on the land market. Regionalized payments seem to produce differentiated effects and contribute to a general (slight) increase of land exchanges. The individual reaction to the new payments introduction would be different depending on location and specialization. These effects seem to be also strongly influenced by the difference in historical payments endowment and value, i.e. by the previous historical system of distribution of payments.

Avoiding a land market crisis.

Mode of access: Internet.

Sales Market Regulations for Agricultural Land in EU Member States and Candidate Countries. Factor Markets Working Paper No. 14, February 2012

All agricultural markets are subjected to institutional regulations that – in one way or another –affect the functioning of these markets, and this is no different for the agricultural land market in the EU. In this paper, we describe the existing regulations in the sales markets for agricultural land in selected EU member states and candidate countries. The analysis focuses on three types of sales market regulations and institutions: quantity regulations, price regulations and transaction costs. The differences in the regulatory framework between land acquisition and ownership by domestic and foreign investors are analysed, as well as the taxes associated with land sales and ownership, zoning regulations and market imperfections.

Total rural land performance in a free trade economy

The importance of agriculture in many countries has tended to reduce as their economies move from a resource base to a manufacturing industry base. Although the level of agricultural production in first world countries has increased over the past two decades, this increase has generally been at a less significant rate compared to other sectors of the economies. Despite this increase in secondary and high technology industries, developed countries have continued to encourage and support their agricultural industries. This support has been through both tariffs and price support. Following pressure from developing economies, particularly through the World Trade Organisation (WTO), GATT Uruguay round and the Cairns Group Developed countries are now in various stages of winding back or de-coupling agricultural support within their economies. A major concern of farmers in protected agricultural markets is the impact of a free market trade in agricultural commodities on farm incomes and land values. This paper will analyse the capital and income performance of the NSW rural land market over the period 1990-1999. This analysis will be based on land use and will compare the total return from rural properties based on world agricultural commodity prices.

An analysis and comparison of rural land sales

Rural land prices, in developed, free trade real estate markets, are influenced not only by prevailing economic conditions but also physical factors such as climate, topography and soil type. In broad acre farming and grazing operations, both commodity price and yields determine farm income. Yields, in turn, are a function of climate, topography and soil type. The strength of a rural land market is influenced by the overall rural economy in a Country, State or region. These differences in rural land markets can also vary within smaller regions. It has been held that rural land, in relative safe production areas, is less effected by adverse economic and climatic factors than land in more marginal agricultural areas. This paper will analyse rural land sales in both traditional cropping areas and marginal cropping areas for the period 1975 to 1996. The analysis will determine the overall trend in rural land prices over the period, compare the average annual return between marginal and established farming areas and determine which economic and production factors have influenced this change. The impact of this analysis will also be discussed in relation to rural land appraisal.

Informal housing in the XXI century. Characteristics of the informal land and housing supply in Bogota during the first decade of the XXI century

This article characterizes the conditions of the informal land and housing supply during the first decade of the xxi century in Bogota, regarding magnitude and location of the informal urban growth (new occupations in the periphery and informal densification of consolidated areas), housing  conditions in recent occupations and the characteristics of the land market. The situation of the  last decade has been reconstructed based in aerial photography analysis, census data quantification  and data analysis from planning and control public entities. Results suggest that due to the relative  land scarcity in Bogotá, among other aspects, the informal market dynamics have experimented changes compared to previous decades, because the growth in consolidated urban areas becomes  more important than the informal urbanization of the peripheries, but at the same time informality  transcends the municipal perimeter to the neighboring municipalities.

Urban Growth Boundaries and their impact on land prices

Investigation of the effects of Urban Growth Boundaries (UGB) on land prices are restricted by a lack of good land market data. However, undeveloped land transactions at the urban fringe of the Melbourne metropolitan area in Australia are recorded in a data set that enables exploration of the impact of its UGB. Estimation can take account of endogeneity issues, while controlling for policy anticipation effects and other potential influences on land prices. OLS and instrumental variable estimates indicate that land prices rose substantially inside the UGB after its enactment in 2003 but did not rise much outside of it.

Urban Growth Boundaries and their impact on land prices

Undeveloped land transactions at the urban fringe of the Melbourne metropolitan area in Australia are recorded in a dataset that enables exploration of the impact of its urban growth boundary (UGB) on residential land prices. Estimation can take account of a wide range of factors, while controlling for policy anticipation effects and other potential influences on land prices. Modelling estimates indicate that land prices rose substantially inside the UGB after its enactment in 2003, but did not rise much outside of it. These results suggest that the urban growth boundary has had a significant upward effect on the trajectory of the urban region’s house prices. Keywords: urban growth boundary, land prices, land market dynamics

Land and labor reallocation in pre-modern Japan : a case of a northeastern village in 1720-1870

In agricultural societies, adjusting land and labor according to changes of labor endowment that result from family life cycle events is premised on making full use of resources for each farming household and for the economy as a whole. This paper examines how and how well households in pre-modern Japan reallocated land and labor, using a population register covering 150 years from 1720–1870 for a village in the Tohoku region. We find that households reacted to equalize their production factors; land-scarce households tended to acquire or rent-in land and out-migrate their kin members, while land-abundant households tended to release or rent-out land, in-migrate kin members, or employ non-kin members. Estimates suggest that more than 80% of the surplus or deficit area of land was resolved if the household rented or "sold" land. We discuss a potential underlying mechanism; namely, that the village's collective responsibility for tax payment (murauke) motivated both individual households and the village as a whole to reallocate land and labor for the efficient use of resources.