Browsing by Author "Li, Yanggu"
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- Economic Benefits of Agricultural ConservationLi, Yanggu (Virginia Tech, 2025-01-07)Agricultural conservation provides a variety of public goods in the form of ecosystem services, such as improvement in water quality. The implementation of conservation practices may mitigate climate-related risks. The Environmental Quality Incentives Program (EQIP), a working agricultural land program in the United States, offers financial and technical support to farmers and ranchers who voluntarily adopt conservation practices. We estimate the economic benefits of EQIP in the rural housing markets of the US. The results suggest that the implementation of agricultural conservation projects increases local housing prices and that the improvement in environmental amenities is mostly capitalized by houses located within 25 miles. We study the effects of EQIP on agricultural production and land value. We find that a 10% increase in EQIP payments made in the previous two years is projected to increase corn yield by 0.03 bushel per acre at the county level in the US. A 10% increase in the previous year's EQIP payments for no-till practices is shown to increase wheat yield by 0.02 bushel per acre and decrease corn yield by 0.02 bushel per acre. We analyze the effects of conservation practices on acreage loss and farm loss. The results indicate that climate-smart payments have statistically significant effects on loss acres and loss cost ratios, such that a 10% increase in the previous year's and previous two years' climate-smart payments would reduce the loss acres of corn by four and seven acres, respectively. Moreover, a 10% increase in the previous year's climate-smart payments would reduce the loss cost ratios of corn by 0.02 percentage point, and the loss cost ratios of soybean by 0.01 percentage point.
- Farm Financial Risk Management Series Part I: Overview of Financial Systems for New and Beginning FarmersMorgan, Kim; Callan, Peter; Mark, Alyssa; Niewolny, Kim; Nartea, Theresa; Scott, Kelli; Hilleary, Jim; Li, Yanggu; Bovay, John (Virginia Cooperative Extension, 2022)
- Farm Financial Risk Management Series Part II: Introduction of Financial Systems for New and Beginning FarmersMorgan, Kim; Callan, Peter; Mark, Alyssa; Niewolny, Kim; Nartea, Theresa; Scott, Kelli; Li, Yanggu; Bovay, John (2022)
- Farm Financial Risk Management Series Part III: Introduction to Farm Planning BudgetsMorgan, Kim; Callan, Peter; Mark, Alyssa; Niewolny, Kimberly L.; Nartea, Theresa; Scott, Kelli; Hilleary, James; Li, Yanggu; Bovay, John (Virginia Cooperative Extension, 2022)There are many factors to consider before starting a new farm enterprise. Financial management is an important component in the startup and decision-making processes for beginning farmers. The purpose of this series of publications is to inform Virginia agribusiness owners and managers about farm financial risk management tools, techniques, and resources available to help them prepare and use a financial systems approach for their operations. The information provided in this publication is expected to improve manager decision-making by providing a better understanding of the value of constructing financial statements and planning budgets to help them manage risks associated with the financial aspects specific to the agriculture industry. The topics covered in this resource are not all-inclusive, but after reading this publication, beginning farmers should be prepared to move forward in planning for their farms. The accompanying parts in the series include “Farm Financial Risk Management Series Part I: Overview of Financial Systems for New and Beginning Farmers” (Virginia Cooperative Extension publication AAEC-114P (AAEC-296P)), and “Farm Financial Risk Management Series Part II: Introduction to Farm Financial Statements” (Virginia Cooperative Extension publication AAEC-115P (AAEC-297P)). A compilation of excellent resources that includes examples, how-to videos, and training resources is included in the appendix at the end of this publication. For questions about this or other farm startup topics, contact the local Virginia Cooperative Extension office or visit the Virginia Beginning Farmer and Rancher Coalition Program website at www.vabeginningfarmer.org.