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Multifunctional Forestry and Interaction with Site Quality

Department of Economics, Swedish University of Agricultural Sciences, Box 7013, 75007 Uppsala, Sweden
Environment for Development Initiative, University of Gothenburg, Box 645, SE 405 30 Gothenburg, Sweden
Author to whom correspondence should be addressed.
Forests 2020, 11(1), 29;
Received: 16 November 2019 / Revised: 12 December 2019 / Accepted: 18 December 2019 / Published: 23 December 2019
(This article belongs to the Section Forest Economics and Human Dimensions)
Several studies have shown the economic value of various ecosystem services provided by the forest. However, the economic value of how site-specific ecological conditions interact with other functions provided by the forest, such as timber value and carbon sequestration, has been less studied. As a result, this paper constructs a numerical discrete dynamic optimization model to estimate the economic value of site quality, taking into account its interaction with timber value and carbon sequestration, in Swedish forests. Analytical results show that the inclusion of the interaction of site quality with forest growth affects the optimal volume of harvest per year, compared to the case without consideration of site quality. The empirical results show that net present value, when considering timber values plus carbon sequestration and site quality interaction, is higher than the case where only timber and carbon sequestration were considered. However, the calculated net present value is sensitive to, in particular, the price of carbon sequestration and discount rate. View Full-Text
Keywords: timber benefit; ecological site quality; carbon sequestration; forest; Sweden timber benefit; ecological site quality; carbon sequestration; forest; Sweden
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Gren, I.-M.; Amuakwa-Mensah, F. Multifunctional Forestry and Interaction with Site Quality. Forests 2020, 11, 29.

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