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We conduct a national-scale study of the determinants of agricultural land values to better understand how current farmland prices are influenced by the potential for future land development. The theoretical basis for the empirical analysis is a spatial city model with stochastic returns to...
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Farmland values have traditionally been valued using seasonal temperature and precipitation. A new strand of the literature uses degree days over the growing season to predict farmland value. We find that degree days and daily temperature are interchangeable over the growing season. However, the...
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China is undergoing its long-awaited industrial revolution. There is no shortage of commentary and opinion on this … fundamental mechanisms behind China's rapid industrialization. This article reviews the New Stage Theory of economic development …, despite sharp differences in political and institutional conditions. One of the key conclusions exemplified by China …
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