주요 경제변수가 농지가격에 미치는 영향 분석

The Effect of Economic Variables on Farmland Prices

This objective of this study is to investigate the relationship between farmland price and economic variables. This study empirically examined the effects of economic variables on farmland price. We apply the basic statistic, Granger causality test, impulse response analysis, and variance decomposition to analyze the effects. In the result, index of industrial product have great effect on farmland prices, but both CD interest rate and consumer price index have a little effect on farmland prices. Index of industrial has greater effect on Gyeonggi-do farmland price than the whole country. This results imply that farmland prices rise when the economy is in good, whereas farmland prices fall when the economy is in bad.