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

Abstract

This paper examines climate change impacts on South American agricultureusing a set of Ricardian regressions estimated across different samples of farms in SouthAmerica. 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 agreat deal across each type of farm. The analysis also reveals that the impacts will varysubstantially across South America. The hot and wet Amazon and Equatorial regionsare likely to lose the most from warming scenarios whereas the more temperate highelevation and southern regions of South America will likely gain.