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Forests 2017, 8(4), 107; doi:10.3390/f8040107

Dynamics of Wood Pulp Production: Evidence from OECD Countries

ETS/Economics, Luleå University of Technology, Luleå SE-971 87, Sweden, vishal.jaunky@ltu.se
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Academic Editor: Timothy A. Martin
Received: 4 January 2017 / Revised: 23 March 2017 / Accepted: 27 March 2017 / Published: 1 April 2017
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Abstract

This paper investigates whether shocks to pulp for paper production for 17 Organisation for Economic Co-Operation and Development (OECD) members over the period 1980–2012 are transitory or permanent. A variety of univariate and panel data unit root tests are employed. The presence of structural breaks is taken into account when performing those tests. Based on the Narayan-Popp univariate unit root test, wood production series for approximately 64.71% of countries is found to follow a non-stationary process. However, univariate unit root tests tend to have low power when the time span is relatively short. Consequently, three generations of panel unit root tests are considered. Cross-sectional dependence is detected. The first generation of unit roots do not effectively control for cross-sectional dependence, while the second and third generations do. The third generation accounts mainly for cross-sectional co-integration. As a confirmatory analysis, both unit root tests that tests for the null of non-stationarity and stationarity are considered. Most of the panel unit root tests point towards a non-stationary process. Hence, while these shocks can be transmitted to other economic sectors, past behaviours of wood production cannot be used for forecasting purposes. Forest conservation policies can have a permanent impact on pulp for paper production. View Full-Text
Keywords: wood pulp; production shocks; pulp production; cross-sectional dependence; structural breaks; unit root tests wood pulp; production shocks; pulp production; cross-sectional dependence; structural breaks; unit root tests
This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. (CC BY 4.0).

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MDPI and ACS Style

Jaunky, V.C.; Lundmark, R. Dynamics of Wood Pulp Production: Evidence from OECD Countries. Forests 2017, 8, 107.

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