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The impacts of public interventions: An examination of the forestry sector
Author(s) -
Hyde William F.,
Boyd Roy G.,
Daniels Barbara L.
Publication year - 1987
Publication title -
journal of policy analysis and management
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 2.898
H-Index - 84
eISSN - 1520-6688
pISSN - 0276-8739
DOI - 10.2307/3323349
Subject(s) - psychological intervention , forestry , public sector , business , economics , geography , medicine , nursing , economy
Abstract This article measures welfare and distributive effects of public market interventions in forestry. These interventions represent both the demand (Jones Act shipping restrictions and minimum wage restrictions) and supply (state forest practice acts, forest incentives payments, taxes and public land management) sides of the market. The authors evaluate how well these programs promote the three standard economic justifications for market intervention: market failure, distributive justice, and stabilization. Their results indicate that, with the single exception of Timber Mart South (a government‐sponsored price‐reporting service), all market interventions fail to accomplish their efficiency and distributive objectives. Furthermore, the authors find that targeted regulatory programs (such as State Forest Practice Acts) have small impacts when compared to effects of taxation and public ownership.