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

Author

Listed:
  • Darius M. Adams
  • Richard W. Haynes
  • George F. Dutrow
  • Richard L. Barber
  • Joseph M. Vasievich

Abstract

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.

Suggested Citation

  • Darius M. Adams & Richard W. Haynes & George F. Dutrow & Richard L. Barber & Joseph M. Vasievich, 1982. "Private Investment in Forest Management and the Long-Term Supply of Timber," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 64(2), pages 232-241.
    • Handle: RePEc:oup:ajagec:v:64:y:1982:i:2:p:232-241.
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    File URL: http://hdl.handle.net/10.2307/1241127
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    Cited by:

    1. Aguilar, Francisco X., 2009. "Investment preferences for wood-based energy initiatives in the US," Energy Policy, Elsevier, vol. 37(6), pages 2292-2299, June.
    2. Provencher, Bill & Swallow, Stephen K., 1992. "Taking Stock of the Timber Harvest Decision of Private Forest Owners: Some New Considerations," Staff Papers 200552, University of Wisconsin-Madison, Department of Agricultural and Applied Economics.
    3. Koch, Sebastian P. & Schwarzbauer, Peter & Stern, Tobias, 2013. "Monthly wood supply behavior of associated forest owners in Austria—Insights from the analysis of a micro-econometric panel," Journal of Forest Economics, Elsevier, vol. 19(3), pages 331-346.
    4. Daniel W. Callaghan & Puskar N. Khanal & Thomas J. Straka & Donald L. Hagan, 2019. "Influence of Forestry Practices Cost on Financial Performance of Forestry Investments," Resources, MDPI, vol. 8(1), pages 1-16, January.

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