Substitution in global wood imports in the 1990s

摘要: In this paper substitution between the main categories of imported wood and domestic raw material is studied empirically using a cost-function approach panel data set world's 36 most important wood-importing countries in 1990–1997. A subcost function for optimal mix different timber inputs estimable cost share functions are derived. The results suggest that as industrial consumption continues to grow, international trade becomes an increasingly source forest industries. Cross-price elasticities derived demand based on maximum-likelihood estimation show world imports fairly low. By contrast, domestically produced higher. Long-run own-price cross-price larger absolute terms than short-run elasticities. Because strong substitutability wo...