정부직접지불금의 농지임차료 귀속에 관한 연구

The Incidence of Government Payments on Agricultural Land Rents in Korea

In this paper, we investigated the degree of incidence of government payments on agricultural land rents in Korea. The methodology used in this paper is both a empirical approach and a structural approach. The empirical analysis uses a panel data set constructed from farm household survey and rice production cost survey in Korea for the period of 2003~2005. First, the empirical evidence revealed that the effects of rice income on land rents are large in korea compare to U.S. Second, we also found that production costs are negatively related to the land rents. Finally, our findings suggest that the degree of incidence of government payments on land rents seems smaller compare to other countries like U.S.: for a 1% increase of government payment, land rents is estimated to increase about 0.1%. This incidence is expected to contribute to land value increase in the long run.