Structural Analysis of Japanese-North American Trade in Forest Products

Author: McKillop, William

Source: Forest Science, Volume 19, Number 1, 1 March 1973 , pp. 63-74(12)

Publisher: Society of American Foresters

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Abstract:

Marked changes in forest products trade between North America and Japan have taken place in recent years. The objective was to isolate major factors influencing this trade and to assess their importance. An econometric model consisting of three supply and three demand equations was constructed, using quarterly data for the period 1950 to 1970. The equations were: Japanese demand for US logs, US lumber and Canadian lumber; US supply of logs and lumber to Japan and Canadian supply of lumber to Japan. The level of residential construction in Japan was an important influence in all demand equations. Stocks of logs or lumber in Japan and prices of competitive types of timber were other important variables in the demand equations. Results suggested that Japanese demand for North American was totally inelastic. In the case of US supply equations, price of the commodity in question was the most important variable. The most important variable in the Canadian supply equation was stocks of lumber in British Columbia. A dummy (0-1) variable was used in estimating the supply equation for US logs to assess the effect of the 1968 restrictions on the export of logs from Federal lands. Forest Sci. 19:63-74.

Keywords: Econometric model; demand; exports; supply

Document Type: Journal Article

Affiliations: School of Forestry and Conservation, University of California, Berkeley

Publication date: March 1, 1973

More about this publication?
  • Forest Science is a peer-reviewed journal publishing fundamental and applied research that explores all aspects of natural and social sciences as they apply to the function and management of the forested ecosystems of the world. Topics include silviculture, forest management, biometrics, economics, entomology & pathology, fire & fuels management, forest ecology, genetics & tree improvement, geospatial technologies, harvesting & utilization, landscape ecology, operations research, forest policy, physiology, recreation, social sciences, soils & hydrology, and wildlife management.
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