An Economic Assessment of the Impact of Climate Change on the Value of Agricultural Land in Ukraine
Shevchenko O. V.

Shevchenko, Oleksandr V. (2026) “An Economic Assessment of the Impact of Climate Change on the Value of Agricultural Land in Ukraine.” The Problems of Economy 2:422–430.
https://doi.org/10.32983/2222-0712-2026-2-422-430

Section: Economics of Natural Resources and Environment

UDC 332.64:551.583:631.11(477)

Abstract:
The relevance of this study is driven by the increasing impact of climate change on the functioning of the agrarian sector, the productivity of agricultural production, and the economic value of land resources. Changes in temperature patterns, moisture levels, the frequency of extreme weather events, and soil degradation processes significantly affect land use profitability, which makes it necessary to consider climate factors when assessing the value of agricultural land. The aim of the article is to examine the impact of climate change on the value of agricultural land in Ukraine based on an analysis of market indicators of the land market and an evaluation of the relationship between climate and economic factors. The methodological basis of the study is a system approach, methods of economic, statistical, correlation, and spatial analysis, as well as the use of an information and analytical database on the buying, selling, and leasing of agricultural land plots. As a result of the study, the main factors influencing climate change on land value were identified, current trends in the agricultural land market in Ukraine were described, and a statistically significant relationship was found between the hydrothermal coefficient and the average cost of 1 ha of land plots. It was substantiated that climate change indirectly affects land value through agrarian production productivity, the level of investment attractiveness of territories, land use structure, and market conditions. The scientific novelty of the study lies in a comprehensive assessment of the impact of climate change on the value of agricultural land in Ukraine, using actual land market data and the results of correlation analysis. The practical significance of the results obtained is that they can be used to improve methodological approaches to assessing agricultural land, develop measures for adapting the agrarian sector to climate change, as well as shape government policy in the field of land resource management and land market development.

Keywords: climate change; agricultural land; land value; land market; land assessment; hydrothermal coefficient; correlation analysis.

Fig.: 3. Tabl.: 1. Bibl.: 20.

Shevchenko Oleksandr V. – Doctor of Sciences (Economics), Associate Professor, Dean, Faculty of Land Management, National University of Life and Environmental Sciences of Ukraine (15 Heroiv Oborony Str., Kyiv, 03041, Ukraine)
Email: shevchenko_ov90@ukr.net

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