• Journal of Korean Society of Rural Planning
• /
• v.28 no.2
• /
• pp.41-50
• /
• 2022

The primary purpose of this study is to identify various factors that affect farmland prices according to changes in the actual transaction price of farmland over the past decade, and to use this to derive policy implications for price stabilization. To this end, the farmland price model are constructed at the parcel level in the case area (Namwon-si, Jinju-si). The analysis method is based on the Hedonic price function, and the OLS and the quantile regression are used for the parcel level model. As a result of estimating the parcel level farmland price model in the case area, the larger the parcel area, the lower the farmland price, and the higher the farmland price outside the agricultural promotion area. It was found that there was a price difference according to the type of special purpose areas, and the location characteristics showed some differences across the cities. The farmland price models presented in this study are suitable for identifying the factors affecting farmland prices, and are expected to be highly utilized in that it is possible to construct flexible variables suitable for regional characteristics.

• Journal of Korean Society of Rural Planning
• /
• v.28 no.4
• /
• pp.69-81
• /
• 2022

The change in farmland price has almost always been focused on not only farmers but policy-decision makers; for farmers to get information before purchasing farmland; for policy-decision makers to use appropriate policy tools to stabilize the market. So far the change in farmland price has been calculated as a form of average change on a year-to-year base. Such calculations have become one of the causes which lead to misunderstanding of the farmland market because the year-to-year average change includes changes in price as well as changes in the number of trades and sizes of traded farmland. This paper is designed to suggest a proper method of building a price index for farmland as a tool to review the price change. We considered the applicability of several types of price indices and concluded that a Laspeyres-type price index is the most reasonable choice. A Laspeyres-type price index, however, has a shortcoming in which a reference year's weight may affect the whole period of an index. Thus, we also suggest two other weights, a three-year average including a reference year and a share of farmland. All indices show that farmland prices have risen significantly in recent 10 years. We hope that the indices will be developed into one of the government's formal statistics.

• Journal of the Economic Geographical Society of Korea
• /
• v.15 no.2
• /
• pp.192-205
• /
• 2012

This study estimates how much climate variables affect the land price and acreage of rice paddy and dry farm field in agriculture with the case of Gangwon-do in Korea. To this end, we capitalize upon the Ricardian approach based upon the panel data on climate, soil and geography, farmland prices and acreage, other economic and social variables for 11 municipal units comprising Gangwon-do during the period of 1992-2010. Our empirical analysis shows that the temperature variable has negative economic impacts on the price and acreage of rice paddy and dry farm field, confirming that the temperature variable is much significant than that of precipitation in global warming. On the other hand, the other determinants of farmland price and acreage are different with the type of farmland in Gangwon-do.