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Spatial valuation of forests' enviromental assets: an application to Andalusian Silvopastoral farms

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  • Ovando, Paola
  • Caparrós, Alejandro
  • Díaz-Balteiro, Luis
  • Pasalodos, María
  • Beguería, Santiago
  • Oviedo, José L.
  • Montero, Gregorio
  • Campos, Pablo

Abstract

We develop a model that estimates spatially allocated environmental asset values for the simultaneous provision of seven ecosystem services. We examine the effect of heterogeneous spatial and economic factors on asset figures, and identify potential forestry abandonment problems when continuing with forestry activity becomes unprofitable for the landowner. Our results show a relevant spatial variability according to forest species distribution and structure. We examine potential trade-offs among silvopastoral provisioning services, water, and carbon sequestration services. Results forecast the abandonment of forestry activity and quantify the significant impact of discount rates and prices on asset values.

Suggested Citation

  • Ovando, Paola & Caparrós, Alejandro & Díaz-Balteiro, Luis & Pasalodos, María & Beguería, Santiago & Oviedo, José L. & Montero, Gregorio & Campos, Pablo, 2017. "Spatial valuation of forests' enviromental assets: an application to Andalusian Silvopastoral farms," LSE Research Online Documents on Economics 66172, London School of Economics and Political Science, LSE Library.
    • Handle: RePEc:ehl:lserod:66172
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    1. Alejandro Caparrós & Emilio Cerdá & Paola Ovando & Pablo Campos, 2010. "Carbon Sequestration with Reforestations and Biodiversity-scenic Values," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 45(1), pages 49-72, January.
    2. A. Caparros & P. Campos & G. Montero, 2003. "An operative framework for total hicksian income measurement - Application to a multiple-use forest," Post-Print hal-00719124, HAL.
    3. Alejandro Caparrós & Pablo Campos & Gregorio Montero, 2003. "An Operative Framework for Total Hicksian Income Measurement: Application to a Multiple-Use Forest," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 26(2), pages 173-198, October.
    4. Brent Sohngen & Robert Mendelsohn, 2003. "An Optimal Control Model of Forest Carbon Sequestration," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 85(2), pages 448-457.
    5. Gassman, Philip W. & Reyes, Manuel R. & Green, Colleen H. & Arnold, Jeffrey G., 2007. "The Soil and Water Assessment Tool: Historical Development, Applications, and Future Research Directions," ISU General Staff Papers 200701010800001027, Iowa State University, Department of Economics.
    6. Carl Obst & Michael Vardon, 2014. "Recording environmental assets in the national accounts," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 30(1), pages 126-144.
    7. Berbel, Julio & Mesa, Pascual, 2007. "Valoracion del agua de riego por el metodo de precios quasi-hedonicos: aplicacion al Guadalquivir," Economia Agraria y Recursos Naturales, Spanish Association of Agricultural Economists, vol. 7(14), pages 1-18.
    8. Avinash K. Dixit & Robert S. Pindyck, 1994. "Investment under Uncertainty," Economics Books, Princeton University Press, edition 1, number 5474.
    9. Campos, Pablo & Daly-Hassen, Hamed & Oviedo, José L. & Ovando, Paola & Chebil, Ali, 2008. "Accounting for single and aggregated forest incomes: Application to public cork oak forests in Jerez (Spain) and Iteimia (Tunisia)," Ecological Economics, Elsevier, vol. 65(1), pages 76-86, March.
    10. Häyhä, Tiina & Franzese, Pier Paolo & Paletto, Alessandro & Fath, Brian D., 2015. "Assessing, valuing, and mapping ecosystem services in Alpine forests," Ecosystem Services, Elsevier, vol. 14(C), pages 12-23.
    11. Eli P. Fenichel & Joshua K. Abbott, 2014. "Natural Capital: From Metaphor to Measurement," Journal of the Association of Environmental and Resource Economists, University of Chicago Press, vol. 1(1), pages 1-27.
    12. Campos, Pablo & Caparros, Alejandro, 2006. "Social and private total Hicksian incomes of multiple use forests in Spain," Ecological Economics, Elsevier, vol. 57(4), pages 545-557, June.
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    1. Campos, Pablo & Álvarez, Alejandro & Mesa, Bruno & Oviedo, José L. & Ovando, Paola & Caparrós, Alejandro, 2020. "Total income and ecosystem service sustainability index: Accounting applications to holm oak dehesa case study in Andalusia-Spain," Land Use Policy, Elsevier, vol. 97(C).
    2. Giles Atkinson & Paola Ovando, 2022. "Distributional Issues in Natural Capital Accounting: An Application to Land Ownership and Ecosystem Services in Scotland," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 81(2), pages 215-241, February.

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    JEL classification:

    • J1 - Labor and Demographic Economics - - Demographic Economics

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