Investigating the Determinants of Finnish Agricultural Land Prices Using Generalised Additive Model

Research output: Conference materialsPaper

Abstract

The agricultural sector in Finland has witnessed a rapid structural change since the Finnish EUaccession. At the same time, agricultural land prices have increased considerably. Using a hedonic pricing model, we investigated the characteristics affecting the prices of parcels sold. We analysed a dataset consisting of over a thousand additional agricultural land transactions and discovered several regional and production related characteristics affecting prices. The generalised additive modelling framework enabled estimation of a regional price level as a smooth trend surface. The model captured spatial dependency in the prices while retaining the sensible interpretation of the results.
Original languageEnglish
DOIs
Publication statusPublished - 27 Feb 2019
MoE publication typeNot Eligible
EventAgricultural Land Markets – Recent Developments, Efficiency and Regulation: 165th EAAE seminar - Humboldt-Universität zu Berlin, Berlin, Germany
Duration: 4 Apr 20195 Apr 2019
https://www.agrar.hu-berlin.de/en/institut-en/departments/daoe/abl-en/eaae165/

Seminar

SeminarAgricultural Land Markets – Recent Developments, Efficiency and Regulation
CountryGermany
CityBerlin
Period04/04/201905/04/2019
Internet address

Fields of Science

  • 511 Economics

Cite this

Valtiala, J., Ovaska, S., & Sipiläinen, T. (2019). Investigating the Determinants of Finnish Agricultural Land Prices Using Generalised Additive Model. Paper presented at Agricultural Land Markets – Recent Developments, Efficiency and Regulation, Berlin, Germany. https://doi.org/10.22004/ag.econ.288447