Analysing norwegian forest management using an optimal harvesting rule

$61.74 plus tax (Refund Policy)

Buy Article:

Abstract:

Norwegian forest management was investigated empirically through estimating an optimal harvesting rule stepwise with a growth function, for both a pooled and a panel data model. Norwegian forest management implied an average annual rate of return within the interval 2.5–3.7%. The rate of return required from forest investments was low compared with alternative investment options. The results were consistent with observed forest management and were probably influenced by forest owners' time and risk preferences. Furthermore, the required rate of return from investments in forestry was probably affected by public policies, e.g. public subsidy programmes and tax legislation. The results may also imply that forest owners maximized the total benefit from their forests, and not exclusively profits from industrial roundwood production.

Keywords: Euler equation; Forest management; forest inventory

Document Type: Research Article

DOI: http://dx.doi.org/10.1080/02827580410017870

Affiliations: Department of Ecology and Natural Resource Management, Agricultural University of Norway, P.O. Box 5003, NO-1432 ├ůs, Norway

Publication date: October 1, 2004

More about this publication?
Related content

Share Content

Access Key

Free Content
Free content
New Content
New content
Open Access Content
Open access content
Subscribed Content
Subscribed content
Free Trial Content
Free trial content
Cookie Policy
X
Cookie Policy
ingentaconnect website makes use of cookies so as to keep track of data that you have filled in. I am Happy with this Find out more