Analysis of agricultural land price's determinants in Chumphon province
1997
Supachart Fungwattana
Main objective of this study is to analyze factors affecting agricultural land prices in Chumphon Province. Both primary and secondary data were utilized in the study. The primary data were mainly obtained from the Socio-economic Evaluation of the Land Titling Project, Phase III which was performed by the Center for Applied Economics Research, Faculty of Economics, Kasetsart University. The data were collected through intensive interviews of 146 farmers in Langsuan District, Chumphon Province. Additional primary data were collected from officers of related organizations, i.e. Lands Department, Cooperatives Promotion Department, Bank For Agriculture and Agricultural Cooperatives and Commercial Banks. These organizations were also the main sources of secondary data. Both descriptive and quantitative analysis were utilized in the study. Multiple regression technique was employed to estimate land price functions. The analysis of F-statistics indicated that all independent variables significantly affected land prices. The analysis of R-square statistics revealed that 38.41 percent of total land price variations could be explained by net income and a number of dummy variables including land title deeds, N.S. 3, water sources, accesibility, road condition, and location. All variables except net income and a dummy variable on N.S. 3 had significant positive relation with land prices.
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