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Impact of Globalization and Policy Change on United States Softwood Lumber Trade

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Abstract:

To examine the effects of global economic integration, public policy, and other factors on US softwood lumber trade, a demand and supply system for both exports and imports is estimated with panel data sets. We find that the combined impact of trading price and exchange rate before 2003 has made foreign lumber products much cheaper than those manufactured domestically. Furthermore, domestic economic conditions and production capacity strongly affect the exports and imports of both the United States and its trade partners. Also, the US federal harvest reduction policy and the Asian financial crisis influenced both export and import markets. All of these suggest the need for more integrated market analysis and strategic business thinking.

Keywords: Asian financial crisis; Softwood lumber trade; demand and supply equations; federal harvest reductions; globalization; panel data set

Document Type: Research Article

Publication date: 2006-08-01

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

    Average time from submission to first decision: 62.5 days*
    June 1, 2016 to Feb. 28, 2017

    Also published by SAF:
    Journal of Forestry
    Other SAF Publications
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