Notes: A Market-Share Model to Assess Price Competitiveness of Softwood Lumber Exports to Caribbean Markets

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Abstract:

A market-share model is used to assess the price competitiveness of softwood lumber exports to selected Caribbean countries during 1964-80. Six importing countries and five exporting countries are represented in the model. Price elasticities of market shares are estimated in the framework of a partial adjustment model, allowing for gradual responses to price shifts. The estimated price elasticities of market shares are then used to infer lower bounds on price elasticities of demand. The results indicate that price elasticities of market shares are highly uneven across the six import markets. The United States faces elastic demand for its exports of softwood lumber to Trinidad & Tobago. In contrast, almost half of the estimated elasticities are close to zero. All other estimates are inconclusive, but suggest possibilities of a moderate degree of price responsiveness. Several qualifications imply that the estimated elasticities are biased downward. Forest Sci. 30:928-932.

Keywords: Caribbean Basin; Central America; International trade; elasticity of substitution; wood products

Document Type: Miscellaneous

Affiliations: Assistant Professor, Department of Forestry, North Carolina State University, Box 8002, Raleigh, NC 27895-8002

Publication date: December 1, 1984

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