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Is forestry really more profitable than upland farming? A historic and present day farm level economic comparison of upland sheep farming and forestry in the UK

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  • Hardaker, Ashley

Abstract

There are currently 3.16 million hectares of woodland cover in the United Kingdom. At a European scale, the UK is one of the countries with the lowest woodland cover, currently extending to only 13% of the total land area of the UK, this is less than half of the European Union (EU) average of 37 per cent. A significant study carried out by Read et al. (2009) identified that UK wide there is a need to increase significantly levels of new planting and forest creation by more than 23,000ha each year over the next 40 years if a substantial influence on reversing climate change is to be realised. It is clear that expansion of the total forested area in the UK necessitates the establishment of new woodland and forest cover on farmland which is either owner occupied or rented out.

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  • Hardaker, Ashley, 2018. "Is forestry really more profitable than upland farming? A historic and present day farm level economic comparison of upland sheep farming and forestry in the UK," Land Use Policy, Elsevier, vol. 71(C), pages 98-120.
    • Handle: RePEc:eee:lauspo:v:71:y:2018:i:c:p:98-120
    DOI: 10.1016/j.landusepol.2017.11.032
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    References listed on IDEAS

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    1. Duku-Kaakyire, Armstrong & Nanang, David M., 2004. "Application of real options theory to forestry investment analysis," Forest Policy and Economics, Elsevier, vol. 6(6), pages 539-552, October.
    2. Pavel Ciaian & D'Artis Kancs & Johan Swinnen, 2014. "The Impact of the 2013 Reform of the Common Agricultural Policy on Land Capitalization in the European Union," Applied Economic Perspectives and Policy, Agricultural and Applied Economics Association, vol. 36(4), pages 643-673.
    3. Hepburn, Cameron J. & Koundouri, Phoebe, 2007. "Recent advances in discounting: Implications for forest economics," Journal of Forest Economics, Elsevier, vol. 13(2-3), pages 169-189, August.
    4. Adler, Ralph W., 2000. "Strategic investment decision appraisal techniques: The old and the new," Business Horizons, Elsevier, vol. 43(6), pages 15-22.
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    Cited by:

    1. Arnott, David & Chadwick, David R. & Wynne-Jones, Sophie & Jones, David L., 2021. "Vulnerability of British farms to post-Brexit subsidy removal, and implications for intensification, extensification and land sparing," Land Use Policy, Elsevier, vol. 107(C).
    2. Hardaker, Ashley & Pagella, Tim & Rayment, Mark, 2020. "Integrated assessment, valuation and mapping of ecosystem services and dis-services from upland land use in Wales," Ecosystem Services, Elsevier, vol. 43(C).
    3. Cao, Jianjun & Tian, Hong & Adamowski, Jan F. & Zhang, Xiaofang & Cao, Zijian, 2018. "Influences of afforestation policies on soil moisture content in China’s arid and semi-arid regions," Land Use Policy, Elsevier, vol. 75(C), pages 449-458.

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