The influence of agricultural support on sale prices of french farmland: a comparison of different subsidies, accounting for the role of environmental and land regulations
Résumé
We investigate the determinants of agricultural land price in several regions in France over the period 1994-2011 using individual plots transaction data, with a particular emphasis on agricultural subsidies and nitrate zoning regulations. We found a positive but relatively small capitalisation effect of the total subsidies per hectare. We found evidence that agricultural subsidies capitalised at least to some extent. However, the magnitude of such a capitalisation depends on the region considered, on the type of subsidy considered, and on the location of the plot in a nitrate surplus zone or not. Only land set-aside premiums significantly capitalise into land price, while single farm payments have a significant positive capitalisation impact only for plots located in a nitrate surplus zone.
Domaines
Economies et finances
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Latruffe Piet Dupraz LeMouel IATRC Seville June2013 - final_1.pdf (925.87 Ko)
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