Analyzing the Economic Relevance of Climate Variables in the Agriculture of Gangwon-do

기후변수가 강원도의 농업에 미친 경제적 효과 분석

  • Jeong, Jun-Ho (Department of Real Estate, Kangwon National University) ;
  • Kim, Kwang-Bae (Department of Real Estate, Kangwon National University)
  • 정준호 (강원대학교 부동산학과) ;
  • 김광배 (강원대학교 부동산학과)
  • Received : 2012.05.19
  • Accepted : 2012.06.05
  • Published : 2012.06.30

Abstract

This study estimates how much climate variables affect the land price and acreage of rice paddy and dry farm field in agriculture with the case of Gangwon-do in Korea. To this end, we capitalize upon the Ricardian approach based upon the panel data on climate, soil and geography, farmland prices and acreage, other economic and social variables for 11 municipal units comprising Gangwon-do during the period of 1992-2010. Our empirical analysis shows that the temperature variable has negative economic impacts on the price and acreage of rice paddy and dry farm field, confirming that the temperature variable is much significant than that of precipitation in global warming. On the other hand, the other determinants of farmland price and acreage are different with the type of farmland in Gangwon-do.

Acknowledgement

Supported by : 한국연구재단