TY - BOOK AU - Zhang,Daowei AU - Pearse,Peter H. AU - Pearse,Peter H. TI - Forest economics SN - 9780774821537 (pbk.) U1 - 338.1/749 23 PY - 2012/// CY - Vancouver, BC PB - UBC Press KW - Forests and forestry KW - Economic aspects KW - Forêts KW - Aspect économique N1 - TABLE OF CONTENTS Foreword Preface Part 1: Market, Government, and Forest Investment Analysis 1 Forestry’s Economic Perspective/3 Forestry from an economic viewpoint/3 basic economic questions/7 mixed capitalism and the role of government/9 economic objectives: efficiency and equity/11 forests as economic resources/13 why forest economics economic decision making/17 review questions/22 further reading /23 2 Market Economy and the Role of Government/24 economic efficiency and opportunity costs/25 the theory of production/26 allocating inputs among alternative uses/38 market failures and externalities in forestry/40 government intervention and policy failure/42 appendix; marginal conditions for efficiency/44 review questions/51 further reading/52 3 Forest Investment Analysis time and the role of internet/53 compounding, discounting, and present values/55 criteria for investment decisions/63 interest rate, inflation, risk, and uncertainty/70 integrating economics and silviculture /81 valuing pre-merchantable timber/83 taxes and social considerations/92 notes/93 appendix: compounding and discounting formulas commonly used in forestry94 review questions/95 further reading/95 Part 2: The Forest Sector – Land, timber, and unpriced forest values 4 Timber Supply, Demand, and Pricing/101 supply, demand, and price equilibrium/101 the forest products supply and demand/113 the demand for timber/116 timber supply/123 long run wood supply projections/134 price distortions /135 note/136 review questions/137 further reading/138 5 Unpriced Forest Values/140 Unpriced values: a problem of measurement/140 consumer surplus as a measure of value /142 evaluating unpriced recreation/144 other considerations in valuing recreational resources/159 externalities and intrinsic value/164 review questions/166 further reading/166 6 Land Allocation and Multiple Use/168 intensity of land use/168 extensive margin of land use/170 allocation among uses/172 combinations of uses/175 practical difficulties/182 an illustration: land-use change associated with the rise of institutional timberland ownership in united states/185 review questions/187 further reading/224 Part 3: Economics of Forest Management 7 The Optimal Forest Rotation optimal rotation age in discrete format/192 optimal rotation age in continuous format/205 cutting cycles for an uneven-aged stand /209 comparisons with other rotation criteria/210 other impacts on the optimal rotation/212 the hartman rotation age/216 notes /221 review questions/224 further reading/224 8 Regulating Harvests over Time the stand and the forest/227 market solutions and limitations/228 the regulated forest/230 transition to a normal forest/231 sustained yield rationale and criteria/237 timber harvest over time in the absence of sustained yield policy: market as a regulator/242 new approaches to forest regulation/244 review questions245 further reading/246 9 Long-Term Trends in the Forest Sector and Silvicultural Investment/248 long-term trends in the forest sector/248 A conceptual model for silvicultural investment/259 factors influencing silvicultural investment on private lands/262 silvicultural investment on public lands/264 forest plantation development in the southern united states/265 note/269 review questions/269 further reading Part 4: Economics of Forest Policy 10 Property Rights/273 property rights, property value, and economic efficiency/274 evolution of forest property rights/279 dimensions of property rights/279 common forms of forest tenure systems/289 economic issues of tenure systems/293 private and public ownership/297 review questions/299 further reading/300 11 Forest Taxes and Other Charges/301 characteristics of forest charges/303 types of forest levies/305 direct taxes/320 tax incidence and deadweight loss/322 the cost of risk/325 other economic considerations/326 review questions/329 further reading/330 Part 5: Forest Economics in a Global Perspective 12 Forest Products Trade/333 trends in international forest products trade/333 comparative advantage and the principle of specialization/336 production possibilities and terms of bilateral trade/339 factors influencing international forest products trade/343 the political economy of trade restrictions/348 foreign direct investment in the forest industry/350 review questions/353 further reading/354 13 Global Forest Resources and the Environment/355 global forest resources/355 population, economic growth, and the environment/358 forest-based industrialization and tropical deforestation/361 the role of forests in mitigating global climate change/365 emerging issues in forest economics/370 note/377 review questions/378 further reading/378 index/380 Index Revision and expansion of: Introduction to forestry economics. Includes bibliographical references and index; Markets, Government, and Forest Investment Analysis. Forestry's Economic Perspective -- Market Economies and the Role of Government -- Forest Investment Analysis -- The Forest Sector. Land, Timber, and Unpriced Forest Values -- Timber Supply, Demand, and Pricing -- Unpriced Forest Values -- Land Allocation and Multiple Use -- The Economics of Forest Management. The Optimal Forest Rotation -- Regulating Harvests over Time -- Long-Term Trends in the Forest Sector and Silvicultural Investment -- Economics of Forest Policy. Property Rights -- Forest Taxes and Other Charges -- Forest Economics in Global Perspective. Forest Products Trade -- Global Forest Resources and the Environment; Also issued in electronic format N2 - "Forestry cannot be isolated from the forces that drive economic activity. While forestry involves using land, labour, and capital to produce goods and services from forests, economics helps in understanding how this can be done in ways that will best meet the needs of society. Therefore, a firm grounding in economics is integral to sound forestry policies and practices. This book, a major revision and expansion of Peter H. Pearse's 1990 classic, provides this grounding. Updated and enhanced with advanced empirical presentation of materials, it covers the basic economic principles and concepts and their application to modern forest management and policy issues. Topics range from valuation of forest investments and unpriced forest goods and services to product markets, government intervention, property rights, taxation, and global issues of forests and the environment. Each chapter contains review questions and suggestions for further reading. Forest Economics draws on the strengths of two of the field's leading practitioners who have more than fifty years of combined experience in teaching undergraduate and graduate courses in forest economics in the United States and Canada. Its comprehensive and systematic analysis of forest issues makes it an indispensable resource for students and practitioners of forest management, natural resource conservation, and environmental studies."--pub. desc ER -