Journal of Forest Economics > Vol 11 > Issue 4

Effects of resin tapping on optimal rotation age of pine plantation

Zanxin Wang, , wzxkm@hotmail.com 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. http://dx.doi.org/10.1016/j.jfe.2005.10.001

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

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In this article:
Introduction
Method
Results and discussion
Summary and conclusion

Abstract

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.

DOI:10.1016/j.jfe.2005.10.001