Study On The Impact Fartors And Rationality Of American Agricultural Land Price

With the acceleration of agricultural modernization,the demand for large-scale management of agricultural land is growing,and orderly agricultural land transfer is crucial.At present,China's rural land market is still in the primary stage,there are some irregularities during the transfer of rural land,and there are some randomness during the determination of rural land price,which does not really reflect the scientific mechanism of the formation of rural land price and the law of regional differentiation.This paper chooses the United States as the research object,which is similar to China in terms of land scale,geographical latitude and natural conditions of agricultural production and development,to explore the characteristics,formation mechanism and spatial differences of the transaction price in agricultural land market,so as to provide reference for the cultivation and price management of China's agricultural land market.First of all,in order to understand the characteristics of agricultural land price,this paper analyzes the temporal and spatial differences of American agricultural land price.Secondly,in order to explore the formation mechanism of farmland price,this paper uses the hedonic price model to analyze the influencing factors of farmland price of American States from five aspects: farmland attributes,environmental factors,location characteristics,socio-economic factors and policy factors.Finally,the rationality of American farmland price is evaluated from two aspects: one is to select three indexes: the ratio of farmland price change to per capita disposable income change,the ratio to agricultural output value change,and the ratio to farm net income change to evaluate the rationality of farmland price from the perspective of consistency with economic development;the other is to calculate the contribution rate calculation of land price to farmland net income based on C-D production function and Solow residual value method,and then comparing the contribution rate of land price between regions with the intensive use of agricultural land and the level of economic development to analyze the rationality of the contribution rate.The results show that:(1)In the time dimension,from 1998 to 2019,the price ofagricultural land in the United States increased,and after 2014,the price of agricultural land tended to be stable,although there are differences in land prices among different agricultural areas,the change trend is similar to the general;in the spatial dimension,in the east and west directions,the price of agricultural land in1998 and 2019 is higher in the East and West than in the central area,and in the north and south directions,the central region is higher than the north and south ends.(2)The empirical results of the influencing factors of farmland price show that the selected relevant factors have a strong ability to explain farmland price.Farmland scale,farmland quality,power input,environmental quality,traffic network density,agricultural product price,population density,economic development level,inflation rate and long-term government bond income have positive effects on farmland price,while the distance from market center and the proportion of non-agricultural value have negative effects on farmland price.(3)In terms of time and regional distribution,there is a basic consistency between the change of agricultural land price and the change of economic development level in the United States;the contribution rate of agricultural land price to the net income of farms in the United States is low,with an overall average of 2.39%,and the contribution rate of land price among regions is basically in reverse relationship with the intensive use of land and the level of economic development.From the above two aspects,the price of American farmland is reasonable.