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Net Accumulation Of Timber Resources

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  • Jeffrey R. Vincent

Abstract

National accounting issues related to forest resources have attracted much attention recently. The net‐depletion method, the most popular method for estimating aggregate changes in the value of timber stocks, tends to overstate both the depreciation of mature forests due to harvests and the appreciation of immature forests due to growth. Alternative, correct methods, which I term the net‐price and El Serafy variations, can be derived from an asset valuation model that takes forest age into account. An empirical example indicates that estimates from the net‐depletion method can deviate from actual values by up to 40 percent for some age classes.

Suggested Citation

  • Jeffrey R. Vincent, 1999. "Net Accumulation Of Timber Resources," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 45(2), pages 251-262, June.
    • Handle: RePEc:bla:revinw:v:45:y:1999:i:2:p:251-262
    DOI: 10.1111/j.1475-4991.1999.tb00331.x
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    Cited by:

    1. Hassan, Rashid M. & Mbuli, P. & Dlamini, C., 2002. "Natural Resource Accounts For The State And Economic Contribution Of Forests And Woodland Resources In Swaziland," Discussion Papers 18020, University of Pretoria, Center for Environmental Economics and Policy in Africa.
    2. Atkinson, Giles & Gundimeda, Haripriya, 2006. "Accounting for India's forest wealth," Ecological Economics, Elsevier, vol. 59(4), pages 462-476, October.
    3. Hassan, Rashid & Hertzler, Greg & Benhin, James K.A., 2009. "Depletion of forest resources in Sudan: Intervention options for optimal control," Energy Policy, Elsevier, vol. 37(4), pages 1195-1203, April.

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