Price movement in the Brazilian land market (1994-2010): an analysis in the light of post-Keynesian theory
| Autor: | Alex Wilhans Antonio Palludeto, Bastiaan Philip Reydon, Tiago Santos Telles |
|---|---|
| Jazyk: | angličtina |
| Rok vydání: | 2016 |
| Předmět: |
Macroeconomics
preço da terra Sociology and Political Science Natural resource economics Brazilian economy Factors of production Context (language use) Post-Keynesian economics Store of value 050602 political science & public administration Economics Asset (economics) Speculation lcsh:HB71-74 post-Keynesian 05 social sciences lcsh:Economics as a science 04 agricultural and veterinary sciences economia brasileira 0506 political science Market liquidity land prices Political Science and International Relations 040103 agronomy & agriculture 0401 agriculture forestry and fisheries Profitability index pós-keynesiano General Economics Econometrics and Finance |
| Zdroj: | Brazilian Journal of Political Economy, Vol 36, Iss 1, Pp 109-129 (2016) Brazilian Journal of Political Economy v.36 n.1 2016 Revista de Economia Política EDITORA 34 instacron:EDITORA_34 |
| ISSN: | 1809-4538 |
| Popis: | The present study aims to evaluate crop, pasture and forest land prices in Brazil, between 1994 and 2010, in the light of Post-Keynesian theory. The results provide evidence that land, more than just a simple factor of production, must be conceived of as an economic asset. In fact, the price of rural land is determined not only by the expected profitability deriving from agricultural activities but also by the agents' expectations about its future appreciation and liquidity in an economic environment permeated with uncertainty. In this context, as an object of speculation, land has been particularly important as a store of value. |
| Databáze: | OpenAIRE |
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