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How integrated are tropical timber markets?

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  • Varangis, Panos

Abstract

The tropical timber market is characterized by multiple species, multiple products, and regional patterns of trade and production. In such a market, finding a representative price is a difficult and perhaps an irrelevant task. So Varangis conducted tests to see whether prices from different species, products, and regions move together, at least in the long run. If they do, the use of a representative price may be appropriate. The analysis could also be seen as a test of whether the Asian and African/European markets are interdependent.

Suggested Citation

  • Varangis, Panos, 1990. "How integrated are tropical timber markets?," Policy Research Working Paper Series 465, The World Bank.
    • Handle: RePEc:wbk:wbrwps:465
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    References listed on IDEAS

    as
    1. Sargan, John Denis & Bhargava, Alok, 1983. "Testing Residuals from Least Squares Regression for Being Generated by the Gaussian Random Walk," Econometrica, Econometric Society, vol. 51(1), pages 153-174, January.
    2. Phillips, P.C.B., 1986. "Understanding spurious regressions in econometrics," Journal of Econometrics, Elsevier, vol. 33(3), pages 311-340, December.
    3. Phillips, P C B, 1987. "Time Series Regression with a Unit Root," Econometrica, Econometric Society, vol. 55(2), pages 277-301, March.
    4. Perron, Pierre, 1989. "The Great Crash, the Oil Price Shock, and the Unit Root Hypothesis," Econometrica, Econometric Society, vol. 57(6), pages 1361-1401, November.
    5. Palaskas, Theodosios & Varangis, Panos, 1989. "Primary commodity prices and macroeconomic variables : a long run relationship," Policy Research Working Paper Series 314, The World Bank.
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    Cited by:

    1. Ariaster B. Chimeli & Roy G. Boyd & Darius M. Adams, 2012. "International timber markets and tropical deforestation: the evidence from prices," Applied Economics, Taylor & Francis Journals, vol. 44(10), pages 1303-1314, April.

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