Selling timber in Poland

Author

Marek Giergiczny, Natalia Nehrebecka (nnehrebecka@wne.uw.edu.pl) and Tomasz Zylicz
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No 2015-34, Working Papers from  Faculty of Economic Sciences, University of Warsaw

Abstract: The paper looks at how the foresters try to reconcile sustainable management practices with economic viability of their operations within the legal framework they operate in. In particular, we compare prices received by the State Forest Enterprise in Poland in two types of timber auctions: constrained and unconstrained ones. While the latter allow for higher revenues, the former are maintained for political reasons. The authors verify alternative hypotheses regarding market behaviour of timber buyers. The data from timber auctions in 2011-2012 demonstrate that winning prices are determined by starting prices and by the market power of the State Forest Enterprise (diversified with respect to specific timber varieties), as well as by price expectations. Based on the modelling results the paper makes policy recommendations with respect to the design of timber auctions and – more broadly – with respect to striking a balance between timber and non-timber benefits from the forestry in Poland.

Keywords: Timber markets; Public forests; Multi-unit auction; Sustainable management (search for similar items in EconPapers)
JEL-codes: D44 L73 Q23 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-env and nep-tra
Date: 2015
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Persistent link: http://EconPapers.repec.org/RePEc:war:wpaper:2015-34

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