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[The Faustmann model embodies the appplication of fundamental economic principles to the choice of management methods and alternative land uses. The price of products is a key input in applications of this principle. For wood prices, forest sector models provide a link between forestry and the rest of the economy, and thus a means to predict wood prices consistent with expected demographic and economic growth. To include the price of non-wood forest outputs, Faustmann's principle needs to be expanded with modern benefit-cost analysis. Evaluation of forest amenities in the absence of markets poses conceptual challenges and requires special analystical techniques such as contingent valuation. New valuation and demand forecasting methods based on macro-economic growth theory attempt to link the demand for environmental goods, such as forest diversity, to total aggregate consumption. These models, founded on the environmental Kuznets curve hypothesis could provide a means to calculate the value of forest amenities and to predict their future demand.]
Fiscal Year: fy00 ·
Problem Area: pa98-4 ·
Theme: cctrgnas ·
Source: extra
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Citation:
Raunikar, R. and J. Buongiorno. 1999. [The role of economics in forest management: from Faustmann to the environmental Kuznets curve]. Revue Forestiere Francaise Numéro Spécial:102-116.
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Forest Economics and Policy |
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USDA Forest Service Southern Research Station |