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The Infinitely Worried Forest Owner Key Biotopes and Forest Certification in a Faustmann Model
Umeå University, Faculty of Social Sciences, Centre for Environmental and Resource Economics (CERE). SLU, Umeå, Sweden.
Umeå University, Faculty of Social Sciences, Centre for Environmental and Resource Economics (CERE). Stockholm School of Economics, Stockholm, Sweden.
2020 (English)In: Journal of Forest Economics, ISSN 1104-6899, E-ISSN 1618-1530, Vol. 35, no 1, p. 69-73Article in journal (Refereed) Published
Abstract [en]

In this note, we consider a case when a forestry property may lose its market value through "political risk", illustrated here by it being classified as containing a key biotope. If a key biotope is found on a forest property in Sweden, the wood is almost impossible to sell. We show how the Faustmann formula is modified in this case and identify a "balance sheet" effect and a shortened rotation period. The theory seems to have some empirical support, given observed changes in bank lending contracts and alleged changes in forester's behavior to reduce the "political risk".

Place, publisher, year, edition, pages
Elsevier, 2020. Vol. 35, no 1, p. 69-73
National Category
Forest Science Other Social Sciences not elsewhere specified
Identifiers
URN: urn:nbn:se:umu:diva-168181DOI: 10.1561/112.00000502ISI: 000508628200004Scopus ID: 2-s2.0-85095819098OAI: oai:DiVA.org:umu-168181DiVA, id: diva2:1414240
Available from: 2020-03-12 Created: 2020-03-12 Last updated: 2023-03-24Bibliographically approved

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Kriström, Bengt

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