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 | – |