Fanny Moffette , Daniel Phaneuf , Lisa Rausch , Holly K. Gibbs
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引用次数: 0
Abstract
Lack of property rights is associated with lower investment, development, and welfare. In the Brazilian Amazon, insecure property rights have historically led to civil conflicts and deforestation, which would be expected to provide incentives for landowners to seek formal title. In this paper, we construct a novel database of land prices in Brazil to measure the market value of formal title to land and compliance with environmental regulation. Using online advertisements of land sale offers scraped from a widely used seller’s platform, we first estimate a hedonic model that regresses the last offer price on property attributes such as farm-level agricultural production, land characteristics, structure amenities, and capital equipment included in the offer, as well as spatial and temporal fixed effects. We use this hedonic model to examine how property rights and environmental compliance capitalize into land prices across the Amazon and Cerrado biomes. Our main results imply low net benefits from property rights and low net benefits from compliance with the central Brazilian regulation that aims to maintain forest cover, the Forest Code. Finally, we estimate a duration model that follows the sequence of weekly offers for a specific property until it sells. Our findings show that parcels compliant with the Forest Code sell 46 % faster in the Amazon, while entitled properties in the Cerrado sell 9 % faster, unless they are compliant with the Forest Code, which requires a substantial portion of the property to be under native vegetation cover.
期刊介绍：
Global Environmental Change is a prestigious international journal that publishes articles of high quality, both theoretically and empirically rigorous. The journal aims to contribute to the understanding of global environmental change from the perspectives of human and policy dimensions. Specifically, it considers global environmental change as the result of processes occurring at the local level, but with wide-ranging impacts on various spatial, temporal, and socio-political scales.
In terms of content, the journal seeks articles with a strong social science component. This includes research that examines the societal drivers and consequences of environmental change, as well as social and policy processes that aim to address these challenges. While the journal covers a broad range of topics, including biodiversity and ecosystem services, climate, coasts, food systems, land use and land cover, oceans, urban areas, and water resources, it also welcomes contributions that investigate the drivers, consequences, and management of other areas affected by environmental change.
Overall, Global Environmental Change encourages research that deepens our understanding of the complex interactions between human activities and the environment, with the goal of informing policy and decision-making.
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