Seminarium online z cyklu Warsaw Economic Seminars [12.05.2022]
Serdecznie zapraszamy do wzięcia udziału w kolejnym spotkaniu z cyklu Warsaw Economic Seminars, organizowanego wspólnie przez Wydział Nauk Ekonomicznych Uniwersytetu Warszawskiego i Szkołę Główną Handlową.
Podczas najbliższego seminarium swoje badanie „Non-agricultural Investors’ Impact on Czech Farmland Prices” zaprezentuje prof. Jarmila Curtiss z Martin Luther University Halle-Wittenberg.
Wykład będzie poświęcony m.in. analizie zmian cen gruntów rolnych w Czechach oraz powiązanym z tym zagadnieniem kwestiom koncepcyjnym i metodologicznym.
Spotkanie odbędzie się 12 maja 2022 r. od godz. 17:00 za pośrednictwem platformy Zoom i będzie prowadzone w języku angielskim.
Link do seminarium: https://us02web.zoom.us/j/81657806467
*Osoby zainteresowane udziałem w spotkaniu, prosimy o włączenie się na spotkanie o godz. 16.55. Jeżeli to możliwe, zachęcamy do uruchomienia kamery tak, by prezentujący miał kontakt wzrokowy z audytorium.
Abstrakt referatu:
The global financial crisis of 2008 sparked investors’ interest in agricultural sector and farmland around the globe and this interest has persisted to this day. Among the highly attractive regions for farmland investments were post-Soviet and post-communist Central and Eastern European countries; this due to their relatively low farmland prices, farm structures with considerable representation of large-scale farms and high potential for productivity increases. The rapid growth of non-agricultural investor numbers in farmland markets has been critically assessed as a potential threat to family-managed and sustainable farming, as the investors may price local farms out of the market and gain control of food production and farmland stewardship. This has led to heated political debates within the EU and called for more empirical evidence of the impact of non-agricultural investors on price formation and farm response behavior.
Acknowledging this issue, we analyzed farmland price formation under investors’ increased demand for land in the Czech Republic from 2008 to 2014. We adopt a stochastic metafrontier approach to hedonic price modelling and investigate the relative differences in farm and investor pricing. Our results provide evidence of buyer group-specific land valuations, asymmetric price dispersions and their temporal changes. These changes reflect the developments of market microstructures and market-supporting institutions induced by buyer competition. While initially significantly lower due to high market and bargaining power, prices paid by corporate/cooperative farms converged with high-level investor prices over time.
Individual and family farms were largely unable to compete at the new price levels. Besides the presentation of the empirical background and analysis of the Czech farmland price development, the lecture will elaborate on related conceptual and methodological questions such as: Why can land markets in some post-communist/post-transition countries be still considered imperfect or immature? How do market imperfections affect price formation? How to consider these specifics in econometric analysis of price formation? or How to consider specific investor (buyer group-specific) behavior in such analysis?
Celem cyklu seminariów jest stworzenie platformy dla naukowców i specjalistów z całego świata do zaprezentowania swoich badań i dzielenia się wiedzą na temat ekonomii i polityki gospodarczej.
Uczestnicy spotkań mogą zarówno wysłuchać prezentacji i wziąć udział w dyskusji, jak i zaprezentować swoje własne badania, aby uzyskać opinie innych naukowców i studentów.
