期刊
AGRICULTURE-BASEL
卷 12, 期 2, 页码 -出版社
MDPI
DOI: 10.3390/agriculture12020207
关键词
farmland prices; green payment programs; semi-parametric smooth coefficient model; Taiwan
类别
资金
- Ministry of Science and Technology in Taiwan [110-2621-M-002 -018 -MY3, 110-2410-H-002 -219]
This paper examines the impact of green payment programs on farmland prices and finds that these programs lead to an increase in prices. Furthermore, the magnitude of this effect varies depending on the size of the farmland.
Research has examined the impact of green payment programs on agricultural and economic outcomes such as agricultural productivity and farm income. However, it is unclear whether these policies are capitalized into farmland prices. This paper provides some of the first evidence on the causal impact of green payment programs on farmland prices based on evidence from Taiwan. Using administrative farmland transactions data with the ordinary least squares (OLS) method and the semi-parametric smooth coefficient model (SCM), we find that green payment programs increase farmland prices by an average of 3.9 percentage points in townships that implemented the policy. Moreover, the program's effects on farmland prices are not homogenous, varying by farmland size. The magnitude of this effect is more pronounced on rural farmland prices and across quantiles of the farmland size distribution.
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