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Impact of Rational Use of Forest Resources in Central African Republic on Its Economy

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  • Befio Paulin Epaphrodite

Abstract

Given that the economy of Central African Republic as well as other tropical countries is strongly based on the exploitation of their forests, and also CAR’s forests have been exploited since colonial period until now but the economic contributions remain below expectations, in this context this work is looking forwards to analyze what can happen to this economy if some policies towards the rational use of forests could be implemented. This study is the extension of the previous one we did about the importance of wood production in the Central African Republic’s economy. In terms of this analysis, first we use multiple-regressions (static model) that help us to get the break point through Chow test and then we use structure change analysis in order to analyze the impact of rational use of forest resources due to changes that happened in the Central African Republic’s forest department from 1989 on its economy. The analysis of the rational use of forests through the structural change resulting from the Chow breaking point test shows the existence of break point in the wood production trend. The validity of this test also attests the existence of a structural change in the way forest resources are managed and lead to a change in the effect of wood products on GDP positively and significant.

Suggested Citation

  • Befio Paulin Epaphrodite, 2018. "Impact of Rational Use of Forest Resources in Central African Republic on Its Economy," Academic Journal of Economic Studies, Faculty of Finance, Banking and Accountancy Bucharest,"Dimitrie Cantemir" Christian University Bucharest, vol. 4(4), pages 64-70, December.
    • Handle: RePEc:khe:scajes:v:4:y:2018:i:4:p:64-70
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    References listed on IDEAS

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    1. World Commission on Environment and Development,, 1987. "Our Common Future," OUP Catalogue, Oxford University Press, number 9780192820808.
    2. World Bank, 2011. "The Changing Wealth of Nations : Measuring Sustainable Development in the New Millennium," World Bank Publications - Books, The World Bank Group, number 2252.
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    More about this item

    Keywords

    Central African Republic; economy; economic resources;
    All these keywords.

    JEL classification:

    • O5 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies
    • O55 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Africa

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