Skip to main content

Table 4 Estimates of the model parameters.

From: Sugarcane expansion and farmland prices in São Paulo State, Brazil

Variables P1 (First-class cropland price) P2 (Second-class cropland price)
FE AR(1) PCSE FGLS FE AR(1) PCSE FGLS
Intercept 0.02416 (0.062) 3.4682***
(1.028)
1.97274
(0.876)
0.03615
(0.060)
3.55010
(1027)
2.0945**
(0.915)
Price_Sugarcane 0.26090***
(0.067)
0.23288***
(0.062)
0.24315***
(0.052)
0.26495***
(0.066)
0.24573***
(0.065)
0.25992***
(0.055)
Price_Corn 0.01582
(0.057)
− 0.01448
(0.050)
− 0.00602
(0.042)
0.01666
(0.057)
− 0.02361
(0.052)
− 0.00847
(0.045)
Price_Soy 0.22768***
(0.063)
0.2746***
(0.051)
0.27197***
(0.041)
0.22237***
(0.062)
0.28032***
(0.052)
0.27343***
(0.045)
IGP 0.82923***
(0.060)
0.72557***
(0.034)
0.74679***
(0.030)
0.84081***
(0.061)
0.75657***
(0.036)
0.77879***
(0.032)
Vp_Total 0.25616***
(0.032)
0.10688**
(0.043)
0.16672***
(0.036)
0.25569***
(0.032)
0.10488**
(0.044)
0.16977***
(0.038)
Area_Sugarcane 0.11624***
(0.028)
0.09807***
(0.023)
0.10064***
(0.019)
0.12252***
(0.028)
0.09338***
(0.023)
0.08439***
(0.021)
Area_Corn 0.06761
(0.042)
− 0.01166
(0.033)
0.00476
(0.027)
0.03236
(0.042)
− 0.03105
(0.033)
− 0.03170
(0.029)
Area_Soy 0.02049
(0.016)
0.04422***
(0.013)
0.03608***
(0.010)
0.02058***
(0.1604)
0.04190***
(0.013)
0.042417***
(0.010)
Lease_Sugarcane 0.07078*
(0.039)
0.07066**
(0.034)
0.08083***
(0.029)
0.08977**
(0.039)
0.07850**
(0.034)
0.09110***
(0.032)
Lease_Corn − 0.0001
(0.037)
− 0.02019
(0.032)
− 0.01676
(0.028)
− 0.00159
(0.037)
− 0.01605
(0.033)
− 0.00517
(0.029)
Lease_Soy 0.00732
(0.034)
0.04943*
(0.029)
0.05109**
(0.024)
0.00134
(0.033)
0.04004
(0.030)
0.04582*
(0.026)
T2011 0.36371***
(0.035)
0.40579***
(0.032)
0.38605***
(0.027)
0.36712***
(0.035)
0.40801***
(0.033)
0.038111***
(0.029)
T2012 − 0.21345***
(0.041)
− 0.1937***
(0.034)
− 0.1948***
(0.028)
− 0.1964***
(0.041)
− 0.18658***
(0.036)
− 0.1975***
(0.031)
T2013 − 0.1089***
(0.039)
− 0.1056***
(0.032)
− 0.1005**
(0.026)
− 0.0780***
(0.040)
− 0.07820**
(0.034)
− 0.0853***
(0.029)
R 2 W. = 0.9702
B. = 0.0577
O. = 0.3478
0.9978 W. = 0.9698
B. = 0.0568
O. = 0.3800
0.9972
  1. W. = R2 within. B. = R2 between; O. = R2 overall
  2. *** Significant at 1%; ** significant at 5%; * significant at 10%. Standard errors in parentheses