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The conservation reserve program and timber prices in the southern United States

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  • Assogba, Noel Perceval
  • Zhang, Daowei

Abstract

In this paper we estimate the effect of the Conservation Reserve Program (CRP) on the prices of standing timber in U.S. South using a reduced form model. The results of the estimation based on time series data covering the period between 1960 and 2019 suggest that CRP had a negative effect on the prices of standing timber in the long run. This statistically significant negative effect is estimated at about 6.5%, which may partially explain why standing timber prices in the U.S. South have stayed low for more than a decade since the great financial crisis of 2008.

Suggested Citation

  • Assogba, Noel Perceval & Zhang, Daowei, 2022. "The conservation reserve program and timber prices in the southern United States," Forest Policy and Economics, Elsevier, vol. 140(C).
    • Handle: RePEc:eee:forpol:v:140:y:2022:i:c:s1389934122000648
    DOI: 10.1016/j.forpol.2022.102752
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    2. Changsu Song & Yuqing Liu & Longqing Liu & Chaofan Xian & Xuan Wang, 2023. "A Scientometric Analysis of Payments for Ecosystem Services Research: Mapping Global Trends and Directions," Sustainability, MDPI, vol. 15(21), pages 1-21, November.

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