Government payments and South Dakota land values and rental rates from 1991 to 2001

Federal farm program payments are perceived to have a positive influence on land values and rental rates in South Dakota from 1991 to 2001. This thesis evaluates the impact of government payments on cropland values and rental rates using a variety of statistical model specifications.; Changes in the impact of government payments on both cropland values and rental rates resulting from the 1996 Farm Bill and regional differences are also analyzed in this thesis. The impact of government payments varies across regions. Specifically, the impact is greatest in the northwestern region of South Dakota and smallest in the south and east regions of South Dakota. The impact of government payments is most influential on cropland values and least influential on rental rates after the 1996 Farm Bill.