Unintended Consequences: The 1980 Soviet Grain Embargo and Land Values in US Agriculture (thesis)

Abstract

In this paper, I analyze the domestic ramifications of the 1980 Soviet grain embargo. Using data from the United States Census of Agriculture for the years 1978 and 1982, I attempt to empirically quantify the effect of the embargo on land values in US agriculture. My findings suggest a negative domestic effect, in which the embargo led to a relative decline in land values for US counties specializing in grain production prior to the embargo.