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Market and welfare economic impacts of sustainable forest management policy on timber market in Sarawak, Malaysia


Citation

Abdul Samad, Abdul Rahim and Othman, Mohd. Shahwahid and Shamsudin, Mad Nasir and Abd. Ghani, Awang Noor (2013) Market and welfare economic impacts of sustainable forest management policy on timber market in Sarawak, Malaysia. Middle-East Journal of Scientific Research, 13 (8). pp. 972-982. ISSN 1990-9233; ESSN: 1999-8147

Abstract / Synopsis

The main objective of this study is to analyse the impact of Sustainable Forest Management (SFM) practices on the timber market in Sarawak, Malaysia. A partial equilibrium model was applied in this study covering domestic and international timber market namely supply, domestic demand and export demand of timber. It was analysed by using a system of equations approach. All of the data are annual time series basis from 1970 to 2008. Based on the first three scenarios, the results show that changing from the conventional logging (CL) practices to SFM practices, reduce the equilibrium quantity of timber and increase the price level. The welfare economic impacts of SFM provide empirical evidence that there is a loss in welfare economic impacts on the timber industry in Sarawak, Malaysia. However, an increase in the domestic price of timber would help to compensate for the loss volume of timber. In addition, the scenarios of market access shows that Sarawak timber industry could benefit from this advantage.


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Additional Metadata

Item Type: Article
Divisions: Faculty of Agriculture
Faculty of Economics and Management
Faculty of Forestry
DOI Number: https://doi.org/10.5829/idosi.mejsr.2013.13.8.3345
Publisher: IDOSI Publications
Keywords: Consumer surplus; Producer surplus; Equilibrium price; Equilibrium quantity
Depositing User: Nabilah Mustapa
Date Deposited: 30 Apr 2015 14:18
Last Modified: 15 Sep 2015 10:18
Altmetrics: http://www.altmetric.com/details.php?domain=psasir.upm.edu.my&doi=10.5829/idosi.mejsr.2013.13.8.3345
URI: http://psasir.upm.edu.my/id/eprint/28329
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