CLIMATE CHANGE IMPACTS ON LATIN AMERICAN FARMLAND VALUES: THE ROLE OF FARM TYPE.

Abstract

This paper examines climate change impacts on South American agriculture
using a set of Ricardian regressions estimated across different samples of farms in South
America. Regressions are run for the whole sample and for subsamples of crop-only,
mixed, and livestock-only farms. The results indicate that climate sensitivity varies a
great deal across each type of farm. The analysis also reveals that the impacts will vary
substantially across South America. The hot and wet Amazon and Equatorial regions
are likely to lose the most from warming scenarios whereas the more temperate high
elevation and southern regions of South America will likely gain.