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Article
Publication date: 28 August 2009

Biliang Luo and Bo Fu

The purpose of this paper is to summarize the institutional evolution of China's farmland property rights deformity with its internal logic, analyze its property rights…

Abstract

Purpose

The purpose of this paper is to summarize the institutional evolution of China's farmland property rights deformity with its internal logic, analyze its property rights deformity and the invasions of these rights under the family operation background, and puts forward fundamental suggestions for reforming farmland property rights in China.

Design/methodology/approach

The concept of “public domain” raised by Barzel in 1989 is used and extended to analyze China's farmland system.

Findings

There exist five sorts of public domain and two apparent characteristics of property rights deformity: the unclear final controlling rights for some valuable attributes of goods of the “public domain”; and the “public domain” deliberately created by the government. The public domain caused by technical factors and owner's real capability are herein excluded.

Originality/value

China's past and present farmland system is a result of the government's compulsory system arrangements instead of market evolution. The expansion of public domains III and V has directly shrunk peasants' residual property rights. The concept of “public domain” is developed to reveal the essence of China's farmland property rights deformity.

Details

China Agricultural Economic Review, vol. 1 no. 4
Type: Research Article
ISSN: 1756-137X

Keywords

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Book part
Publication date: 25 July 2016

Elke Rogge, Eva Kerselaers and Charlotte Prové

In urban planning, peri-urban areas are often addressed with an urban-centric view on development, disregarding the multifunctional and dynamic opportunities that these…

Abstract

In urban planning, peri-urban areas are often addressed with an urban-centric view on development, disregarding the multifunctional and dynamic opportunities that these spaces offer. As a consequence, we argue that land use functions such as agriculture do not reach their full potential, despite the increasing enthusiasm for peri-urban and urban agriculture. This chapter has a twofold structure: first it explores the opportunities and challenges for agriculture in peri-urban areas; and second, it studies success factors for envisioning processes promoting peri-urban agriculture in urban policy and planning.

Through action research, we gather and compare data from two envisioning processes in the Flemish cities of Ghent and Kortrijk. Both processes were initiated by the local authorities, with the purpose of developing a spatial vision for agriculture in peri-urban areas.

Results show that in both contexts, pressure on farmland is a key issue. In addition, we highlight that multifunctionality is rather complex, both in practice and from a governance perspective, but nevertheless promising as a territorial concept in envisioning processes. Regarding the envisioning process itself, the analysis shows that clarity and consensus on the objectives of the process, delineation of the study area, policy support, clear leadership, and inserting sound and reliable data into the process are important success factors.

This chapter provides insight into the visions, plans and strategies needed to embrace the potential of agriculture in peri-urban areas, through the exploration and valuation of participatory envisioning processes. Future research is needed to explore the implementation phases of envisioning processes in urban planning.

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Article
Publication date: 10 July 2017

Theresa Yaaba Baah-Ennumh and Joseph Ato Forson

The purpose of this paper is to assess the impact of artisanal small-scale mining (ASM) on sustainable livelihoods in the Tarkwa-Nsuaem Municipality of Ghana. The study…

Abstract

Purpose

The purpose of this paper is to assess the impact of artisanal small-scale mining (ASM) on sustainable livelihoods in the Tarkwa-Nsuaem Municipality of Ghana. The study seeks to answer the following questions: what is the impact of ASM on livelihoods in the Tarkwa-Nsuaem Municipality? What measures could be put in place to ensure the sustainability of livelihoods in the municipality?

Design/methodology/approach

A case study approach to inquiry was used in the study. The authors used interview guides (structured and unstructured) to collect primary data from a sample of 400 household heads, 19 institutions, six ASM firms, six mineral processing companies, and two gold-buying agents, and traditional authorities from the Tarkwa-Nsuaem Municipality.

Findings

The findings of the study indicate among other things that land has been rendered unproductive due to the inability of the dominant ASM firms to reclaim lands after mining. The workers’ exposure to cyanide and mercury makes them vulnerable to all manner of health risks, which is a threat to the sustenance of livelihoods. Owing to the unsustainable nature of mining activities, the future indicates not only increases in unemployment but also environmental degradation and health concerns.

Originality/value

The paper contains a significant new perspective of knowledge especially by contextualising sustainable development with ASM. This is an area that has largely been ignored by development researchers. The paper further emphasises the need for policy makers to evolve and embrace developmental approach that is intergenerational.

Details

World Journal of Entrepreneurship, Management and Sustainable Development, vol. 13 no. 3
Type: Research Article
ISSN: 2042-5961

Keywords

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Book part
Publication date: 11 August 2014

Charles Geisler and Ben Currens

Recreancy is a concept that received William R. Freudenburg’s studied attention. Freudenburg moved beyond its conventional meaning – shirking duty – to a larger realm of…

Abstract

Recreancy is a concept that received William R. Freudenburg’s studied attention. Freudenburg moved beyond its conventional meaning – shirking duty – to a larger realm of irresponsibility by public actors who breach a societal trust they assume. This research focuses on the issue of “Peak Farmland,” a rendering of global carrying capacity that, we suggest, qualifies for what Freudenburg called “privileged discourse” and possibly recreancy. Scholars identified with dematerialized progress argue that finite farmland in the face of increasing population will improve human welfare and spare land for nature. This iconoclasm presents an arena for testing academic probity with respect to global food security. After an overview of past carrying capacity debates, we summarize the “Peak Farmland” position of the dematerialization school and suggest an important blind spot: the dematerialization of the global land base itself. Gathering the results of multiple studies on land loss, we offer evidence that the world’s warehouse of productive land is not just peaking but eroding on a grand scale. Ignoring this form of dematerialization while proclaiming nearly unlimited carrying capacity for Earth’s denizens strains the meaning of responsible scholarship.

Details

William R. Freudenburg, A Life in Social Research
Type: Book
ISBN: 978-1-78190-734-4

Keywords

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Expert briefing
Publication date: 12 February 2019

China and food security.

Details

DOI: 10.1108/OXAN-DB241799

ISSN: 2633-304X

Keywords

Geographic
Topical
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Article
Publication date: 3 May 2013

Bruce J. Sherrick, Mindy L. Mallory and Timothy Hopper

Relatively high recent returns to farmland investments have led to substantially elevated interest in farmland investments. Absent, however, is a well‐functioning equity…

Abstract

Purpose

Relatively high recent returns to farmland investments have led to substantially elevated interest in farmland investments. Absent, however, is a well‐functioning equity market in farmland real estate, or well‐developed indexes of farmland returns that might contribute to the development of tradable shares tied to farmland returns, or to methods to hedge the value of owned agricultural assets. The purpose of this study is to empirically present relevant measures related to farmland returns and other financial assets to provide a broad context for evaluation of farmland investments in a portfolio context. Issues related to the development of a farmland fund and index construction are discussed along with major risk and transactional factors that are somewhat unique to the asset class.

Design/methodology/approach

Returns data from a broad set of financial categories and broad set of agricultural returns measures are developed and presented in multiple frameworks to convey temporal persistence, relatedness, and portfolio considerations related to farmland. Issues related to the construction of claims based on agricultural assets are discussed.

Findings

Agricultural real estate investments have performed well compared to most other financial assets on most traditional measures of risk adjusted performance. However, the difficulties in direct investment remain and the need to develop securitized conduit exposures to farmland returns is identified.

Originality/value

The study presents a unique set of farmland returns measures and examines the stability of the statistics used to describe these through time. Novel characterizations of the data compared to traditional assets helps investors and asset owners accurately understand the exposure to farmland returns.

Details

Agricultural Finance Review, vol. 73 no. 1
Type: Research Article
ISSN: 0002-1466

Keywords

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Article
Publication date: 8 February 2021

Albulena Basha, Wendong Zhang and Chad Hart

This paper quantifies the effects of recent Federal Reserve interest rate changes, specifically recent hikes and cuts in the federal funds rate since 2015, on Midwest…

Abstract

Purpose

This paper quantifies the effects of recent Federal Reserve interest rate changes, specifically recent hikes and cuts in the federal funds rate since 2015, on Midwest farmland values.

Design/methodology/approach

The authors apply three autoregressive distributed lag (ARDL) models to a panel data of state-level farmland values from 1963 to 2018 to estimate the dynamic effects of interest rate changes on the US farmland market. We focus on the I-states, Lakes states and Great Plains states. The models in the study capture both short-term and long-term impacts of policy changes on land values.

Findings

The authors find that changes in the federal funds rate have long-lasting impacts on farmland values, as it takes at least a decade for the full effects of an interest rate change to be capitalized in farmland values. The results show that the three recent federal funds rate cuts in 2019 were not sufficient to offset the downward pressures from the 2015–2018 interest rate hikes, but the 2020 cut is. The combined effect of the Federal Reserve's recent interest rate moves on farmland values will be positive for some time starting in 2022.

Originality/value

This paper provides the first empirical quantification of the immediate and long-run impacts of recent Federal Reserve interest rate moves on farmland values. The authors demonstrate the long-lasting repercussions of Federal Reserve's policy choices in the farmland market.

Details

Agricultural Finance Review, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0002-1466

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Article
Publication date: 9 November 2010

Adesoji O. Adelaja, Yohannes G. Hailu, Ahadu T. Tekle and Saichon Seedang

The purpose of the study is to test how land owners respond to the appreciation of land values in the presence of speculation. This paper introduces the concept of “land…

Abstract

Purpose

The purpose of the study is to test how land owners respond to the appreciation of land values in the presence of speculation. This paper introduces the concept of “land hoarding,” which is land owners' response to higher land prices by selling more land up to a point beyond which accelerated land price appreciation would lead to land hoarding. Specifically, this paper examines the effect of land value appreciation higher than the opportunity cost of selling the land (measured by treasury‐bill (T‐bill) rate) on land sale and land hoarding.

Design/methodology/approach

A theoretical framework is developed to understand the demand for agricultural land retention with and without speculation, the former informing land hoarding behavior. A linear regression model was introduced and estimated using ordinary least square (OLS) method. A panel data model and analysis is also introduced, and following appropriate model selection tests, a fixed effect panel data estimation method is implemented. Data from 48 states, spanning from 1950 to 2004, are utilized.

Findings

An inverse relationship is found between the rate of land value appreciation and the demand for land by farmers, suggesting that the standard direct relationship between appreciation and land supplied to development holds. However, the additional finding of an inverse relationship between the rate of land value appreciation in excess of the risk‐free rate of return and agricultural land development confirms the existence of an identifiable speculative demand component that involves land hoarding.

Practical implications

To the extent to which the findings are broadly applicable, one policy implication is that enhanced land retention can be achieved through market mechanisms. For example, the notion that reduced T‐bill rates can actually result in market triggered land preservation is an interesting policy related finding. Equally interesting is the notion that policies that can trigger increases in the rate of appreciation of farmland may also potentially result in the agricultural hoarding of land. Obviously, enhanced profitability in agriculture due to programs targeting viability, commodity price support, reduction of regulation or market expansion programs can potentially affect land retention.

Originality/value

This paper introduces the “land hoarding hypothesis.” High rates of land appreciation can be expected to signal that holding the land may yield better returns than selling it, suggesting that if rates of land appreciation become significantly high enough, farmers may begin to hoard land, not sell it, to maximize long‐term returns. This concept can be valuable to market‐based agricultural land retention programs at the urban fringe. By linking speculative behavior, land demand and existence of a hoarding behavior under some conditions, this paper adds value and originality to the literature.

Details

Agricultural Finance Review, vol. 70 no. 3
Type: Research Article
ISSN: 0002-1466

Keywords

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Article
Publication date: 4 February 2019

Wenxiong Wang, Lihong Yu, Wei Zhou, David W. Marcouiller and Bin Luo

Effective farmer participation in the rural land consolidation process has become increasingly important because it improves results in rural land consolidation and land…

Abstract

Purpose

Effective farmer participation in the rural land consolidation process has become increasingly important because it improves results in rural land consolidation and land use efficiency. The purpose of this paper is to examine the mechanism of farmers’ effective participation in Chinese rural land consolidation.

Design/methodology/approach

The authors empirically assess farmers’ effective participation in the rural land consolidation process in ten counties of China’s Hubei province. Focusing on an effective decision-making model, the authors comprehensively evaluated farmer participation using surveys that incorporated an index system and analyzed survey results using a structural equation model to examine factors that influenced farmer’s effective participation.

Findings

The results of the study suggest that the correlations between farmers’ effective participation and the impacting factors the authors proposed were particularly strong. In addition, participation ability, participation opportunity and participation incentive are strongly associated with effective farmer participation. Thus, the authors highlight that incentives should be provided to encourage farmers’ effective participation in rural land consolidation.

Research limitations/implications

Because of the chosen approach and the set of the research object, the geographic context of the empirical survey work was limited; furthermore, the authors only studied the influencing factors at the individual level, leaving the interaction effects between governmental factors and farmer individual factors inadequately explained.

Originality/value

Despite those limitations, these results serve as an important reference for government agencies and stakeholder groups in rural land consolidation decision making.

Details

China Agricultural Economic Review, vol. 11 no. 1
Type: Research Article
ISSN: 1756-137X

Keywords

Content available
Article
Publication date: 19 November 2018

William M. Fonta, Abbi M. Kedir, Aymar Y. Bossa, Karen M. Greenough, Bamba M. Sylla and Elias T. Ayuk

The purpose of this study is to examine the relative importance of climate normals (average long-term temperature and precipitation) in explaining net farm revenue per…

Abstract

Purpose

The purpose of this study is to examine the relative importance of climate normals (average long-term temperature and precipitation) in explaining net farm revenue per hectare (NRh) for supplementary irrigated and rainfed cocoa farms in Nigeria.

Design/methodology/approach

NRh was estimated for 280 cocoa farmers sampled across seven Nigerian states. It was regressed on climate, household socio-economic characteristics and other control variables by using a Ricardian analytical framework. Marginal calculations were used to isolate the effects of climate change (CC) on cocoa farm revenues under supplementary irrigated and rainfed conditions. Future impacts of CC were simulated using Six CORDEX regional climate model (RCM) ensemble between 2036-2065 and 2071-2100.

Findings

Results indicate high sensitivity of NRh to Nigerian climate normals depending on whether farms use supplementary irrigation. Average annual temperature increases and precipitation decreases are associated with NRh losses for rainfed farms and gains for supplementary irrigated cocoa farms. Projections of future CC impacts suggest a wide range of NRh outcomes on supplementary irrigated and rainfed farm revenues, demonstrating the importance of irrigation as an effective adaptation strategy in Nigeria.

Originality/value

This paper uses novel data sets for simulating future CC impacts on land values in Nigeria. CORDEX data constitute the most comprehensive RCMs projections available for Africa.

Details

International Journal of Climate Change Strategies and Management, vol. 10 no. 5
Type: Research Article
ISSN: 1756-8692

Keywords

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