Department of Economics, Eastern Mediterranean University, Via Mersin 10, Turkey.
Environ Sci Pollut Res Int. 2019 Mar;26(8):7677-7687. doi: 10.1007/s11356-019-04211-4. Epub 2019 Jan 21.
Expectedly, urbanization is often associated with constant degradation of natural habitat. In most cases, as demand for housing increases, natural habitat like agricultural land, forestry, and water bodies gradually gives way to building structures. Against this backdrop, the current study investigates the asymmetric nexus of agricultural land and housing market vis-à-vis house prices. The study employed the yearly data from 1976 to 2015 for the case of Sweden and used economic policy uncertainty (EPU) as a control variable in non-linear autoregressive distributed lag (NARDL) approach. The finding notes a significant and positive short- and long-run relationship between housing price and agricultural land especially when there is a negative shock on agricultural land. But when there is a negative shock on EPU, the impact on housing price is significant and negative for both short run and long run. While an asymmetric long-run relationship is significant and positive between EPU and housing price, such significant occurrence do not exist for agricultural land. Hence, in meeting housing demand and mitigating an escalated growth in house prices, implementation of effective land use policy is encouraged.
城市化通常会导致自然栖息地的不断退化，这是意料之中的。在大多数情况下，随着住房需求的增加，像农业用地、林业和水体等自然栖息地逐渐让位于建筑结构。有鉴于此，本研究考察了农业用地和住房市场与房价之间的不对称关系。本研究采用了瑞典 1976 年至 2015 年的年度数据，并在非线性自回归分布滞后（NARDL）方法中使用经济政策不确定性（EPU）作为控制变量。研究结果表明，房价与农业用地之间存在显著的短期和长期正相关关系，尤其是在农业用地受到负面冲击时。但是，当 EPU 受到负面冲击时，无论是短期还是长期，对房价的影响都是显著的负面。虽然 EPU 和房价之间存在显著的长期不对称关系，但农业用地不存在这种显著关系。因此，在满足住房需求和缓解房价上涨方面，鼓励实施有效的土地利用政策。
