The effect of farmland preservation programs on farmland prices

被引:63
作者
Nickerson, CJ [1 ]
Lynch, L
机构
[1] Univ Maryland, Econ Res Serv, Resources Div, College Pk, MD 20742 USA
[2] Univ Maryland, Dept Agr & Resource Econ, College Pk, MD 20742 USA
关键词
farmland preservation; farmland prices; hedonic models; land values; sample selection;
D O I
10.1111/0002-9092.00160
中图分类号
F3 [农业经济];
学科分类号
0202 ; 020205 ; 1203 ;
摘要
Government agencies in urbanizing areas are increasingly utilizing purchase and transfer of development rights programs to preserve farmland and protect local farm economies. This article tests the effect of development restrictions imposed by permanent easement sales on farmland sales prices, using Maryland data. We correct for selectivity bias due to the voluntary nature of these programs in estimating hedonic sales equations. Although preserved parcels' actual land values are lower, the effect of the restrictions is not statistically significant. These findings may encourage additional participation in preservation programs or justify reductions in the easement prices paid by agencies.
引用
收藏
页码:341 / 351
页数:11
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