This paper examines an industry whose economic activity uses a natural capital on which its profit also relies. When such a productive natural capital has a limited capacity to recover from its exploitation, a free market tends to over-exploit it, calling for public intervention. The analysis is...

Export-led strategies are very crucial to achieving growth and goals of developing and transition economies such as Ghana. As a result, export strategies are being adopted in many developing countries. Although such export strategies might be in place, the deployment of resources and tax payers...

The unavailability of total economic values of indigenous people in Indonesia, both in the short and long term, has created the rejection of their existences in the forest area. The purpose of this study is to estimate the total economic value of sustainable forest management conducted by...

The development of cointegration theories and the presence of nonstationarity in time series raised serious concerns about possible spurious estimations in forest products models. Based on the results of Hsiao (1997a, 1997b), all the virtues of two-stage least square (2SLS) hold if there are...

Compared to other distribution functions, the Weibull distribution has been more widely used in describing diameter distributions because of its flexibility and relative simplicity. Parameters of the Weibull distribution are generally predicted either by the parameter prediction method or by the...

Expanding on the Theory of Location, New Economic Geography, and Porter's Theory of Clusters this dissertation attempts to identify key factors influencing the location of firms in a resource-based industry. The softwood lumber industry in the United States is used as a case study to test...

Commodity price increases associated with the entry of China, India and other countries into the world economy has led to increased pressure on common-property renewable natural resources (NR). The problem is particularly worrisome for economies that obtain a large share of their income from the...

This paper presents the role of alternative energy technologies in displacing fossil fuels as the world's primary energy source. To that end, a CAPM-GARCH multi-factor market model is used to investigate the relationship between returns on oil and alternative energy stocks. Results show that an...