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© 1991 Oxford University Press and the Foundation for the European Review of Agricultural Economics

research-article

Price adjustment and land valuation in the soviet agricultural reform: A view using Lithuanian farm data*

KAREN BROOKS

Department of Agricultural and Applied Economics, University of Minnesota

Received July 1, 1990;

Summary

Changes in land tenure in the USSR require that agricultural producers pay for land use. The current distorted pricing system plus the absence of functioning land markets complicate land valuation, and slow adoption of new property relations.

In a well functioning market economy, agricultural land would earn its marginal value product in agricultural production. This value can be measured empirically from production data, and can serve as an appropriate initial value for users' fees.

Marginal value products for land are estimated for 1032 collective and state farms in Lithuania using farm level data for 1986 and 1987. The marginal value products derived from actual received producer prices are compared to those derived from border prices with alternative assumed exchange rates for the ruble.

Keywords: Land valuation, price reform, Lithuania, Soviet Union, agricultural reform


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