The Timing of Rapid Farmland Conversion Events: Evidence from Californias Differential Assessment Program Report as inadecuate




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Using county-level panel data, we estimate duration models to study the timing of rapidfarmland conversion events. Results suggest that income and the proximity to majorhighways are the principal determinants of rapid conversion events (and also responsible for prolonging these events). In particular, an increase in income of 1% is found to hasten the time to a rapid conversion event by 111% and to extend the time back to a slow state of conversion by 76%. On the other hand, valuable agricultural land and high property taxes extend the time to a rapid conversion event (and also hasten the time back to a slow state of conversion). An increase in the value of agricultural production per acre extends the time to a rapid conversion event by 14% and hastens the time to a slow state of conversion by 106%. Knowledge about the timing of rapid farmland conversion will help counties to better predict infrastructure needs and take steps to mitigate the traffic and environmental impacts.

Keywords: Farmland conversion ; Semi-parametric duration analysis ; Differential Assessment ; Location and land use

Subject(s): Agricultural Finance

Land Economics/Use

Issue Date: 2009

Publication Type: Journal Article

PURL Identifier: http://purl.umn.edu/49252 Page range: 1-34

Total Pages: 34

JEL Codes: R11; R21; R31

Record appears in: Agricultural and Applied Economics Association (AAEA) > 2009 Annual Meeting, July 26-28, 2009, Milwaukee, Wisconsin





Author: Kovacs, Kent F.

Source: http://ageconsearch.umn.edu/record/49252?ln=en



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