Investors’ impact on Czech farmland prices: a microstructural analysis

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00027251%3A_____%2F21%3AN0000001" target="_blank" >RIV/00027251:_____/21:N0000001 - isvavai.cz</a>
Result on the web
<a href="https://academic.oup.com/erae/article/48/1/97/5998099" target="_blank" >https://academic.oup.com/erae/article/48/1/97/5998099</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.1093/erae/jbaa029" target="_blank" >10.1093/erae/jbaa029</a>

Result language
angličtina
Original language name
Investors’ impact on Czech farmland prices: a microstructural analysis
Original language description
This paper analyses farmland price formation under investors’ increased demand in the Czech Republic from 2008 to 2014. We adopt a stochastic metafrontier approach to hedonic price modelling and investigate the relative differences in farm and investor pricing. Our results provide evidence of buyer group-specific land valuations, asymmetric price dispersions and their temporal changes. These changes reflect the developments of market microstructures and market-supporting institutions induced by buyer competition. While initially significantly lower due to high market and bargaining power, prices paid by corporate/cooperative farms converged with high-level investor prices over time. Individual and family farms were largely unable to compete at the new price levels.
Czech name
—
Czech description
—

Type
J<sub>imp</sub> - Article in a specialist periodical, which is included in the Web of Science database
CEP classification
—
OECD FORD branch
50202 - Applied Economics, Econometrics

Project
—
Continuities
I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Publication year
2021
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Similar results(10)