Journal of Forest Economics > Vol 11 > Issue 4

Effects of resin tapping on optimal rotation age of pine plantation

Zanxin Wang, , Margaret M. Calderon, , Myrna G. Carandang, ,
Suggested Citation
Zanxin Wang, Margaret M. Calderon and Myrna G. Carandang (2006), "Effects of resin tapping on optimal rotation age of pine plantation", Journal of Forest Economics: Vol. 11: No. 4, pp 245-260.

Publication Date: 12 Jan 2006
© 0 2006 Zanxin Wang, Margaret M. Calderon, Myrna G. Carandang
JEL Codes:Q230
Pine plantationResin benefitRotation age


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Results and discussion 
Summary and conclusion 


This paper analyses the effects of resin benefit on the optimal rotation age of Simao pine plantation. Timber growth and resin yield functions were first derived, and then an integrated formulation for Hartman rotation was solved by taking both timber and resin benefits into consideration through numerical optimization. Empirical results indicate that: (1) the inclusion of resin benefit results in lengthening optimal rotation age; (2) resin benefit has a greater effect on rotation age when discount rate is low than when it is high, ceteris paribus; (3) with an improvement of site productivity, resin benefit has a decreasing effect on rotation age, other factors being constant. These effects are also true with respect to benefit gains in present value.