Private Investment in Forest Management and the Long‐Term Supply of Timber | Zendy

Adams Darius M. | Zendy; Haynes Richard W. | Zendy; Dutrow George F. | Zendy; Barber Richard L. | Zendy; Vasievich Joseph M. | Zendy

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Private Investment in Forest Management and the Long‐Term Supply of Timber

Author(s) -

Adams Darius M.,

Haynes Richard W.,

Dutrow George F.,

Barber Richard L.,

Vasievich Joseph M.

Publication year - 1982

Publication title -

american journal of agricultural economics

Language(s) - English

Resource type - Journals

SCImago Journal Rank - 1.949

H-Index - 111

eISSN - 1467-8276

pISSN - 0002-9092

DOI - 10.2307/1241127

Subject(s) - investment (military) , forest management , forest product , wood production , product (mathematics) , natural resource economics , business , economics , agricultural economics , agroforestry , environmental science , geometry , mathematics , politics , political science , law

Timber supply behavior of private forest owners is a major uncertainty in long‐term forest product market projections. A model of private supply is developed that explains both harvest and forest management investment decisions. Comparison of two fifty‐year projections, one assuming constant management intensity and a second using the harvest‐investment model, indicates that projected levels of investment would ( a ) have little impact on markets prior to the year 2000, ( b ) stabilize real wood product prices after 2000, ( c ) eliminate softwood lumber imports by 2030, and ( d ) expand the dominant role of southern forest regions in wood product markets.

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