The potential for a backward-bending supply curve of non-timber forest products: An empirical case study of wild American ginseng production

摘要: Abstract Renewable natural resources that have biological constraints on reproduction and are open-access may be subjected to intense harvest activity limits regeneration, potentially leading a backward-bending long-run supply curve. Empirical evidence of such abnormalities has been found for some fish species but not yet non-timber forest products (NTFPs). We describe the theory how relationship could produce multiple market equilibria, affecting regulatory outcomes. An empirical example is provided test in case wild American ginseng (Panax quinquefolius), which habitat loss pressure since 18th Century now its exports regulated. find quantities supplied negatively related price long run, indicating restricting harvestable stocks. Also, we federal regulation banning roots from plants under five years old, effect 1999, coincided with reduction supply. This result due slow rate population recovery.