Regional differences in the capitalisation of first and second pillar payments of the CAP into land rental prices
| Autor: | Paul Feichtinger, Klaus Salhofer |
|---|---|
| Rok vydání: | 2020 |
| Předmět: |
Economics and Econometrics
business.industry media_common.quotation_subject 05 social sciences Pillar Financial system Payment Agricultural and Biological Sciences (miscellaneous) Renting 0502 economics and business Economics 050202 agricultural economics & policy 050207 economics business Regional differences media_common |
| Zdroj: | European Review of Agricultural Economics. |
| ISSN: | 1464-3618 0165-1587 |
| DOI: | 10.1093/erae/jbaa028 |
| Popis: | Nearly 80 per cent of Common Agricultural Policy (CAP) expenditures are spent on three different measures: first pillar payments (FPPs), agri-environmental payments (AEPs) and less favoured area payments (LFAPs). Based on a dynamic panel model and farm accounting data for Bavaria, we find that, on average, 30 per cent of FPPs, 40–50 per cent of LFAPs, but no relevant share of AEPs are capitalised into land rental prices. The capitalisation ratio varies considerably across regions. Above average capitalisation ratios for FPPs are observed in more favourable areas with high yields, a low grassland share and large farms. The same is true for LFAPs for areas with high yields, large farms and a greater share of part-time farmers. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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