Artículos de revistas
Price Movement In The Brazilian Land Market (1994-2010): An Analysis In The Light Of Post-keynesian Theory
Evolução Dos Preços No Mercado Brasileiro De Terras (1994-2010): Uma Análise à Luz Da Teoria Pós-keynesiana
Registro en:
Revista De Economia Política. Editora 34, v. 36, n. 1, p. 109 - 129
0101-3157
S0101-31572016000100109
Autor
Telles
Tiago Santos; Palludeto
Alex Wilhans Antonio; Reydon
Bastiaan Philip
Institución
Resumen
The present study aims to evaluate crop, pasture and forest land prices in Brazil, between 1994 and 2010, in the light of Post-Keynesian theory. The results provide evidence that land, more than just a simple factor of production, must be conceived of as an economic asset. In fact, the price of rural land is determined not only by the expected profitability deriving from agricultural activities but also by the agents' expectations about its future appreciation and liquidity in an economic environment permeated with uncertainty. In this context, as an object of speculation, land has been particularly important as a store of value. 36 1 109 129