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Measuring Net Investment and Productivity in Timber Production

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Abstract:

An index number approach is developed for measuring changes in inputs, outputs, and total factor productivity in a timber-producing sector. These methods are applied to timber production in the U.S. South for the period 1952 to 1985. Results suggest that development of the sector may be described by an adjustment phase between 1952 and 1962 and a growth phase between 1962 and 1985. Aggregate output grew during the latter period at an annual rate of 2.0% for the forest industry and 1.2% for all other private lands. Input growth was also strong for the industry reflecting expansion in both the area of timberland and the intensity of management. On other private lands, however, timberland and inputs showed steady declines. Output growth net of input growth shows that productivity grew at about 0.5% per year on the industry lands and 2.5% per year on other private lands. However, the strong productivity measure for the other private ownership likely reflects measurement error related to the classification of timberland. These results demonstrate the potential hazards of using either trends in timberland area or gross investment (planting) alone to assess the development of a timber-producing sector. For. Sci. 40(1):192-208.

Keywords: Index numbers; production function; total factor productivity

Document Type: Journal Article

Affiliations: Research Forester, Southeastern Forest Experiment Station, USDA Forest Service, Box 12254, Research Triangle Park, NC 27709

Publication date: February 1, 1994

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.
    Forest Science is published bimonthly in February, April, June, August, October, and December.

    2015 Impact Factor: 1.702
    Ranking: 16 of 66 in forestry

    Also published by SAF:
    Journal of Forestry
    Other SAF Publications
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