Factors Influencing Farm-Land Value in the Czech Republic

Abstract

Czech farm-land had enjoyed considerable growth in value from 2008 to 2019. This paper identifies the main determinants of agricultural land prices variations and how these variations are influenced by urbanization, lease payments, and subsidies. These three factors were thoroughly examined for the existence of a unit root using the Augmented Dickey Fuller Test. The long-run relationship between farm-land value and these elements was estimated using the co-integration approach, specifically the Johansen procedure. The estimation confirms the existence of this long-run relationship. Short-run fluctuation in agricultural land prices is explained using the Error Correction Model. As the most important variable in the short-run performance of Czech agricultural land prices, the authors identified the influence of urbanization. This information could be used to help regulators avoid potential agricultural land value instabilities and volatility in the market and hence would contribute to sustainable land use.

Multifunctional Evaluation and Analysis of Synergistic Relationships: A Cognitive Framework for the Sustainable Use of Cropland in China

“…The article was conducted at the parcel level, and the multifunctional services and synergistic and balanced relationships of cropland were assessed at the city scale. However, subsequent research is required at the county scale, focusing on different towns or villages to formulate targeted and finescale management strategies [55][56][57]. Additionally, this article investigated the synergistic and balanced relationship of cropland functions from a global perspective to formulate government management strategies.…”

Land and Water Resources for Food and Agriculture

“…In parallel, Prochazka et al [8] pivoted towards the economic dimensions of sustainable land use, shedding light on the factors influencing the value of agricultural land. By analyzing long-term relationships and short-term fluctuations in farmland prices, their research aimed to inform policymakers on strategies to stabilize the agricultural land market, thereby fostering an environment conducive to sustainable land management practices.…”