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Brazilian Journal of Political Economy

versão impressa ISSN 0101-3157versão On-line ISSN 1809-4538

Resumo

TELLES, TIAGO SANTOS; PALLUDETO, ALEX WILHANS ANTONIO  e  REYDON, BASTIAAN PHILIP. Price movement in the Brazilian land market (1994-2010): an analysis in the light of post-Keynesian theory. Rev. Econ. Polit. [online]. 2016, vol.36, n.1, pp.109-129. ISSN 1809-4538.  https://doi.org/10.1590/0101-31572016v36n01a07.

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.

Palavras-chave : land prices; post-Keynesian; Brazilian economy.

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