Rural Land Use: Traditional Agriculture or Forestry?
AbstractThe signing of the Kyoto Protocol and the official recognition of forestry’s capacity to sequester carbon has prompted considerable interest, within the European Union, in forestry as a competing land use application. However, despite large increases in grants to forestry, afforestation rates, in certain EU countries, are below national targets. In this paper, we employ a real options model to theoretically explain why farmers may be slow to switch land from traditional agriculture to forestry. The theoretical model is then used to motivate an empirical dynamic panel data model and both models are applied to Irish data.
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Bibliographic InfoArticle provided by University of Wisconsin Press in its journal Land Economics.
Volume (Year): 82 (2006)
Issue (Month): 1 ()
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Web page: http://le.uwpress.org/
Find related papers by JEL classification:
- Q23 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Forestry
- Q24 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Land
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- Tee, James & Scarpa, Riccardo & Marsh, Dan & Guthrie, Graeme, 2012.
"Valuation of Carbon Forestry and the New Zealand Emissions Trading Scheme: A Real Options Approach Using the Binomial Tree Method,"
2012 Conference, August 18-24, 2012, Foz do Iguacu, Brazil
123665, International Association of Agricultural Economists.
- Tee, James & Scarpa, Riccardo & Marsh, Dan & Guthrie, Graeme, 2012. "Valuation of Carbon Forestry and the New Zealand Emissions Trading Scheme: A Real Options Approach Using the Binomial Tree Method," 2012 Conference, August 18-24, 2012, Foz do Iguacu, Brazil 131066, International Association of Agricultural Economists.
- Stefanie Engel & Charles Palmer & Luca Taschini & Simon Urech, 2012. "Cost-effective payments for reducing emissions from deforestation under uncertainty," Grantham Research Institute on Climate Change and the Environment Working Papers 72, Grantham Research Institute on Climate Change and the Environment.
- Hyytiainen, Kari & Leppanen, J. & Pahkasalo, T., 2008. "Economic analysis of field afforestation and forest clearance for cultivation in Finland," 2008 International Congress, August 26-29, 2008, Ghent, Belgium 44178, European Association of Agricultural Economists.
- Haverkamp, Matthias Wolbert & Musshoff, Oliver, 2013. "Are short rotation coppices an alternative to traditional agricultural land use in Germany? A real options approach," 2013 Conference (57th), February 5-8, 2013, Sydney, Australia 152184, Australian Agricultural and Resource Economics Society.
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