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Forests
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Economic Valuation of Forest Resources
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Economic Valuation of Forest Resources

A special issue of Forests (ISSN 1999-4907). This special issue belongs to the section "Forest Economics, Policy, and Social Science".

Deadline for manuscript submissions: 25 June 2024 | Viewed by 6251

Special Issue Editors

Dr. Dimitra Lazaridou

E-Mail Website
Guest Editor
Department of Forestry and Natural Environment Management, Agricultural University of Athens, 36100 Karpenisi, Greece
Interests: natural resource economics; forest economics; ecological economics; environmental policy; forest policy; ecosystem services valuation
Dr. Marios Trigkas

E-Mail Website
Guest Editor
Department of Forestry, Wood Science ＆ Design, University of Thessaly, 43100 Karditsa, Greece
Interests: forest economics and innovation; environmental and forestry economic; circular economy and bioeconomy; forest resource

Special Issue Information

Dear Colleagues,

Forests provide a wide range of goods and services that benefit the human population. As multi-functional ecosystems with numerous functions and economic uses, including timber and non-timber commercial products, soil erosion prevention, watershed protection, climate regulation and carbon sequestration, water quality and quantity improvement, biological diversity protection, and recreational services provision, forest resources are also recognized to have significant value. Therefore, various approaches have been developed to estimate the total economic value of forests, including stated preference and revealed preference methods, market prices-based methods, and cost-based methods.

This Special Issue will provide a forum for concentrating innovative approaches on the economic valuation and assessment of forest resources. Original research or review articles focused on forest goods and services, including (but not limited to) economic valuation approaches, are welcome. In addition, papers from a wide range of disciplines, such as environment valuation, environmental–economic decision making, and forest stakeholders' value preferences, can contribute to this Special Issue, in order to promote knowledge for forest economic valuation, management, and future development.

Dr. Dimitra Lazaridou
Dr. Marios Trigkas
Guest Editors

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All submissions that pass pre-check are peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Forests is an international peer-reviewed open access monthly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 2600 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Keywords

  • forest resources
  • forest goods and services
  • forest economics
  • valuation techniques
  • multiple values

Published Papers (7 papers)

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Research

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16 pages, 1396 KiB  
Article
Efficiency of Micro and Small Wood-Processing Enterprises in the EU—Evidence from DEA and Fractional Regression Analysis
by Nikolay Neykov, Mariana Sedliacikova, Petar Antov, Marek Potkány, Emil Kitchoukov, Aureliu-Florin Halalisan and Natália Poláková
Forests 2024, 15(1), 58; https://doi.org/10.3390/f15010058 - 28 Dec 2023
Viewed by 775
Abstract
Micro and small wood-processing enterprises represent the heart of European forest-based industries, being among the key drivers of economic growth in rural, mountainous, and poor regions. Their economic efficiency is of fundamental importance for their existence and the provision of income for the [...] Read more.
Micro and small wood-processing enterprises represent the heart of European forest-based industries, being among the key drivers of economic growth in rural, mountainous, and poor regions. Their economic efficiency is of fundamental importance for their existence and the provision of income for the local population in rural areas. Data Envelopment Analysis (DEA) is used in the current research, which is a nonparametric, linear-programming-based approach that is commonly used to analyse the efficiency of organisational units. The main objective of this study was to investigate and evaluate the economic efficiency of micro and small wood-processing enterprises in EU countries and reveal the hidden inputs that facilitate efficiency generation. The economic efficiency evaluation was carried out on the basis of the official statistical data for the micro and small wood-processing companies in EU member states for the period 2015–2020 by performing a two-stage DEA analysis. The data used were standardised by value per employee. In addition to the first stage of DEA, a fractional regression probit and logit models with four contextual variables were used to reveal the influence of the hidden inputs in the model. The results showed that the micro and small wood-processing enterprises can be regarded as more scale-efficient than technically efficient entities. The only contextual variable affecting the economic efficiency was Investments per Person Employed, improving the efficiency by 2% per 1% increase in the investments. Full article
(This article belongs to the Special Issue Economic Valuation of Forest Resources)
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17 pages, 2474 KiB  
Article
Measurement and Influencing Factors of Willingness to Accept Payment for Ecosystem Service Provision: A Case Study of a Leading Forest Farm in China
by Tongfang Guo, Shuirong Wu, Xufeng Zhang, Chao Zhang, Jinrong Yang and Shun Cheng
Forests 2023, 14(12), 2417; https://doi.org/10.3390/f14122417 - 12 Dec 2023
Viewed by 788
Abstract
The Saihanba Forest Farm, a leading planted forest farm, is one of the essential ecosystem service providers for the Beijing–Tianjin–Hebei region in China. Its efforts in afforestation and landscape restoration have been recognized with the award of the Champions of the Earth from [...] Read more.
The Saihanba Forest Farm, a leading planted forest farm, is one of the essential ecosystem service providers for the Beijing–Tianjin–Hebei region in China. Its efforts in afforestation and landscape restoration have been recognized with the award of the Champions of the Earth from the United Nations. However, the Saihanba Forest Farm is facing the challenges of less income resulting from less commercial cutting since it has to prioritize providing ecosystem services such as water conservation, wind prevention, sand fixation, and so on, instead of timber. It is crucial to understand providers’ attitudes toward ecosystem service provision and willingness to accept payment, as it might affect the quantity and quality of ecosystem service provision in the future. In this study, the contingent valuation method was applied to measure the willingness to accept payment for the economic losses incurred due to providing ecosystem services by cutting less wood. A questionnaire survey was conducted among the staff of the Saihanba Forest Farm. A double-hurdle regression model was used to analyze the influencing factors of the willingness to accept payment, with the validation via a Tobit model. The results showed that the Saihanba Forest Farm was willing to accept a payment of CNY 9800.84 (USD 1407.24) per hectare per year for providing ecosystem services to enhance social welfare. The factors, including basic sociodemographic characteristics, attitudes toward conservation activities, and awareness on the concept of payment for ecosystem services, significantly influenced their willingness to accept payment. Full article
(This article belongs to the Special Issue Economic Valuation of Forest Resources)
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23 pages, 3308 KiB  
Article
Financial Comparison of Afforestation Using Redwood and Radiata Pine within New Zealand for Regimes That Derive Value from Timber and Carbon
by Michael S. Watt and Mark O. Kimberley
Forests 2023, 14(11), 2262; https://doi.org/10.3390/f14112262 - 17 Nov 2023
Cited by 1 | Viewed by 913
Abstract
Carbon sequestration has become an important source of supplementary revenue from forest plantations. Although there are many financial comparisons of species based on timber revenue, there have been few regional comparisons that integrate revenue from carbon. Within New Zealand, radiata pine is the [...] Read more.
Carbon sequestration has become an important source of supplementary revenue from forest plantations. Although there are many financial comparisons of species based on timber revenue, there have been few regional comparisons that integrate revenue from carbon. Within New Zealand, radiata pine is the most widely planted species, but there has been a recent upsurge in planting rates for coast redwood. Under New Zealand’s Emissions Trading Scheme, areas that are newly afforested under clear-fell rotational forestry receive carbon payments up to a set age, intended to represent the long-term average under successive rotations. Using growth models for both species, the objectives of this research were to regionally quantify (i) how the rotation length and the carbon averaging age influenced the profitability of growing redwood and (ii) compare carbon, timber yields, and profitability between radiata pine and redwood. The results showed the legislated carbon averaging age of 22 years for redwood underestimated the actual mid-points of carbon accumulation, which averaged 26, 28, and 31 years across rotation lengths of 40, 45, and 50 years, respectively. The optimal rotation length for redwood varied markedly by region and carbon price but was most often 40 years, increasing to 50 years at higher carbon prices, particularly for southern regions. Under regimes where revenue was only derived from timber, the redwood internal rate of return (IRR) exceeded that of radiata pine for eight of the nine New Zealand regions. When revenue was received from carbon and timber, redwood had a higher IRR than radiata pine up to carbon prices ranging from 29 to 50 NZD/tonne CO2 for the North Island and 23 to 34 NZD/tonne CO2 in all South Island regions apart from Otago. The IRR of radiata pine exceeded that of redwood at carbon prices above these values for the eight regions and at all carbon prices within the cold, dry Otago region. Full article
(This article belongs to the Special Issue Economic Valuation of Forest Resources)
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17 pages, 1578 KiB  
Article
Social Monetary Valuation for Protecting Forests and Protected Wild Animals in North Sulawesi, Indonesia
by Jerry Mauri, Yingli Huang and Jun Harbi
Forests 2023, 14(10), 2114; https://doi.org/10.3390/f14102114 - 23 Oct 2023
Viewed by 983
Abstract
Many protected wild animal species are threatened with extinction because of degraded forest habitats. We conducted a monetary assessment of social responses to this issue in North Sulawesi, Indonesia. Respondents were asked to determine a monetary value for forest services, and we measured [...] Read more.
Many protected wild animal species are threatened with extinction because of degraded forest habitats. We conducted a monetary assessment of social responses to this issue in North Sulawesi, Indonesia. Respondents were asked to determine a monetary value for forest services, and we measured willingness to pay (WTP) using the collection of compensation funds every year for five years. A descriptive statistical model, a correlation analysis, and a double-bounded dichotomous choice (DBDC) model were used in this study. There were 92.1% of respondents who claimed to be aware of the environment, as well as 96% of protected animals, and 89.8% who agreed with the compensation fund. There is a need for current socialization of the environmental situation, and it is necessary to consider education and income factors for real actions in the future. The estimated monetary value probability for WTP was determined using accepting the median estimate of IDR 264,820 (USD 18.26). These results estimated the value of annual forest protection over five years. Full article
(This article belongs to the Special Issue Economic Valuation of Forest Resources)
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15 pages, 747 KiB  
Article
Non-Wood Forest Products’ Marketing: Applying a S.A.V.E. Approach for Establishing Their Marketing Mix in Greek Local Mountain Communities
by Marios Trigkas, Foteini Pelekani, Ioannis Papadopoulos, Dimitra C. Lazaridou and Glykeria Karagouni
Forests 2023, 14(9), 1762; https://doi.org/10.3390/f14091762 - 31 Aug 2023
Viewed by 1053
Abstract
The contribution of non-wood forest products is especially important in the context of rural sustainable development. Nevertheless, their perceived economic and environmental value remains low. The lack of an explicit and effective marketing strategy for NWFPs tailored to local mountain communities’ needs may [...] Read more.
The contribution of non-wood forest products is especially important in the context of rural sustainable development. Nevertheless, their perceived economic and environmental value remains low. The lack of an explicit and effective marketing strategy for NWFPs tailored to local mountain communities’ needs may lead to their restricted access to the market and underestimation of their value. The aim of this paper is to gain knowledge regarding the components of a marketing mix that could support the local markets of NWFPs, in Greek mountainous areas. The paper presents an analysis of the marketing mix for NWFPs, following for the first time the S.A.V.E. approach. The research contributes to the existing literature as we seek to “meet” groups of NWFPs’ consumers, in order to develop a customer-centric value proposition in Greek local mountain communities. The findings indicate that the marketing and promotion of NWFPs requires not only knowledge of the relative products and the market, it requires analysis and knowledge of the specific needs of local mountain communities and the ways that needs are met by the attributes and characteristics of the NWFPs as part of the solution that they can offer. Local mountain communities in Greece, through the exploitation of NWFPs, are trying to face challenges regarding the improvement of their income and their general wellbeing level. Also, we propose as a part of the marketing mix for NWFPs, their promotion as products with a distinct spatial, local identity, by associating them with local “culture economies”. Finally, we argue that a customer-centric marketing mix of NWFPs, which focuses on customers’ needs, desires, and resources as the starting point of the planning process, involves a higher level of mixing and synergies creation along the whole value chain, than simple personalization, with customers to interact with suppliers using ICT and by personal time disposition connected to nature. Full article
(This article belongs to the Special Issue Economic Valuation of Forest Resources)

Review

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31 pages, 1772 KiB  
Review
Estimating Economic and Livelihood Values of the World’s Largest Mangrove Forest (Sundarbans): A Meta-Analysis
by Akbar Hossain Kanan, Mauro Masiero and Francesco Pirotti
Forests 2024, 15(5), 837; https://doi.org/10.3390/f15050837 (registering DOI) - 10 May 2024
Viewed by 180
Abstract
We explored the state of the art economic and livelihood valuation of ecosystem services (ES) in the Sundarbans mangroves, including a comparative analysis between the Bangladesh and Indian parts of the region. We identified 145 values from 26 studies to estimate the Sundarbans’ [...] Read more.
We explored the state of the art economic and livelihood valuation of ecosystem services (ES) in the Sundarbans mangroves, including a comparative analysis between the Bangladesh and Indian parts of the region. We identified 145 values from 26 studies to estimate the Sundarbans’ economic and livelihood values. The number of ES valuation studies of the Sundarbans is scant, and it has gradually increased over time, focusing mainly on the estimation of provisioning ES (66.2%), followed by regulating and maintenance (25.5%), and cultural (8.3%) ES. However, recently, attention has been paid to estimation, regulating and maintenance, and cultural ES. The number of studies on ES was higher for the Bangladesh (73%) part of the Sundarbans than the Indian (27%) one. The estimated economic values of the Sundarbans’ provisioning, regulating and maintenance, and cultural ES were US $ 713.30 ha−1 yr−1, US $ 2584.46 ha−1 yr−1, and US $ 151.88 ha−1 yr−1, respectively. Except for cultural ES, the identified values for the other two ES categories were about 1.5 to 2.5 times higher for the Bangladesh Sundarbans compared to the Indian ones. The results of the meta-regression model showed that the estimated economic and livelihood values of ES are affected by the associated variables (e.g., type of ES, valuation methods, study area, population, and GDP). Our study also identified some remarkable gaps and limitations in the economic and livelihood valuation of the ES of the Sundarbans, highlighting the need for further research to find out the values of all ES to help with policy decision-making. Full article
(This article belongs to the Special Issue Economic Valuation of Forest Resources)

Other

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20 pages, 4018 KiB  
Hypothesis
Transaction Costs and Investment Interest in the U.S. South and the Pacific Northwest Timberland Regions
by Andrew Hiegel, Jacek Siry, Bin Mei and Pete Bettinger
Forests 2023, 14(8), 1588; https://doi.org/10.3390/f14081588 - 4 Aug 2023
Cited by 1 | Viewed by 744
Abstract
In 2020, a survey was conducted of timberland investment professionals. The focus of the survey was collecting and examining transaction cost data within the timberland investment space. The data collected were generally lacking in the public domain, as well as academic literature, yet [...] Read more.
In 2020, a survey was conducted of timberland investment professionals. The focus of the survey was collecting and examining transaction cost data within the timberland investment space. The data collected were generally lacking in the public domain, as well as academic literature, yet it provides insight into the significant costs that are involved in timberland investing. The survey revealed that the U.S. South and the Pacific Northwest have significant differences in investor expectations for transaction costs. The objective of the current study was to explore the differences in transaction costs for the two regions and to uncover the relationships between (1) timberland transaction costs; (2) investment interest; and (3) prior experience in owning, investing, or managing timberland in either region. The findings of this work confirmed that transaction costs were a statistically significant predictor of investor interest in the U.S. South and the Pacific Northwest. The findings also showed that prior ownership, investment, or management experience in either region were a statistically significant predictor of investor interest in the U.S. South and the Pacific Northwest. Furthermore, this work explores factors that appear to rationalize the high investor interest in the Pacific Northwest, despite investor expectations of much higher transaction costs associated with timberland acquisition within this region. Full article
(This article belongs to the Special Issue Economic Valuation of Forest Resources)
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