Fecha/hora: 07/06/2024 07:01:15

Biblioteca(s): | INIA Las Brujas.
Fecha corriente: | 04/03/2020
Fecha de la última actualización: | 04/03/2020
Autoria: | CUBBAGE, F.; KANIESKI, B.; RUBILAR, R.; BUSSONI, A.; OLMOS, V. M.; BALMELLI, G.; MAC DONAGH, P.; LORD, R.; HERNÁNDEZ, C.; ZHANG, P.; HUANG, J.; KORHONENK, J.; YAO, R.; HALL, P.; DELL LA TORRE, R.; DÍAZ-BALTEIRO, L.; CARRERO, O.; MONGES, E.; THU, H.T.T.; FREY, G.; HOWARD, M.; CHAVET, M.; MOCHAN, S.; HOEFLICH, V.A.; CHUDY, R.; MAASS, D.; CHIZMAR, S.; ABT, R.
Afiliación: | FREDERICK CUBBAGE, Department of Forestry and Environmental Resources, North Carolina State University, Raleigh, NC, United States; BRUNO KANIESKI, Department of Forestry and Environmental Resources, North Carolina State University, Raleigh, NC, United States; RAFAEL RUBILAR, Cooperativa de Productividad Forestal, Departamento de Silvicultura, Facultad de Ciencias Forestales, Universidad de Concepción, Concepción, Chile; ADRIANA BUSSONI, Facultad de Agronomia, Universidad de la República, Montevideo, Uruguay; VIRGINIA MORALES OLMOS, Departamento de Ciencias Económicas, Universidad de la República, Tacuarembó, Uruguay; GUSTAVO DANIEL BALMELLI HERNANDEZ, INIA (Instituto Nacional de Investigación Agropecuaria), Uruguay; PATRICIO MAC DONAGH, Facultad de Ciencias Forestales, Universidad Nacional de Misiones, Eldorado, Misiones, Argentina; ROGER LORD, Mason, Bruce & Girard, Inc., Portland, OR, United States; CARMELO HERNÁNDEZ, Commisión Nacional Forestal, Guadalajara, Mexico; PU ZHANG, Institute of Desertification Studies, Chinese Academy of Forestry, Beijing, China; JIN HUANG, Abt Associates, Bethesda, MD, United States; JAANA KORHONEN, Department of Forest Sciences, University of Helsinki, Finland; RICHARD YAO, Scion (New Zealand Forest Research Institute Ltd.), Rotorua, New Zealand; PETER HALL, Scion (New Zealand Forest Research Institute Ltd.), Rotorua, New Zealand; RAFAEL DELL LA TORRE, ArborGen Inc., Ridgeville, SC, United States; LUIS DÍAZ-BALTEIRO, Universidad Politécnica de Madrid. E.T.S. de Ingeniería de Montes, Forestal y del Medio Natural, Madrid, Spain; OMAR CARRERO, Facultad de Ciencias Forestales, Universidad de Los Andes, Mérida, Venezuela; ELIZABETH MONGES, Universidad Nacional de Asunción, Asunción, Paraguay; HA TRAN THI THU, Research Institute for Forest Ecology and Environment, Vietnamese Academy for Forest Sciences, Hanoi, Viet Nam; GREGORY FREY, USDA Forest Service, Southern Research Station, Research Triangle Park, NC, United States; MIKE HOWARD, Fractal Forest Africa, Umhlali, South Africa; MICHAEL CHAVET, Woodilee Consultancy Ltd, Glasgow, Scotland, United Kingdom; SHAUN MOCHAN, Woodilee Consultancy Ltd, Glasgow, Scotland, United Kingdom; VICTOR ALFONSO HOEFLICH, Departamento de Economia Rural e Extensão, Universidade Federal do Paraná, Curitiba, PR, Brazil; RAFAL CHUDY, Forest Business Analytics Sp. z o.o., ?ód?, Poland; DAVID MAASS, Forestry Consultant, Bluffton, SC and Westbrook, ME, United States; STEPHANIE CHIZMAR, Department of Forestry and Environmental Resources, North Carolina State University, Raleigh, NC, United States; ROBERT ABT, Department of Forestry and Environmental Resources, North Carolina State University, Raleigh, NC, United States.
Título: | Global timber investments, 2005 to 2017.
Año de publicación: | 2020
Fuente/Imprenta: | Forest Policy and Economics, March 2020, Volume 112, Article number 102082. OPEN ACCESS. Doi: https://doi.org/10.1016/j.forpol.2019.102082
ISSN: | 1389-9341
DOI: | 10.1016/j.forpol.2019.102082
Idioma: | Inglés

Notas:

Article history: Received 26 April 2019 / Revised 4 November 2019 / Accepted 13 December 2019 / Available online 7 February 2020.
Corresponding author: Frederick Cubbage - email:fred_cubbage@ncsu.edu
This research was partially funded by the Southern Forest Resource Assessment Consortium (SOFAC) at North Carolina State University, United States , as well as by the time and salaries provided to each of the co-authors by their respective organizations.

Contenido:

ABSTRACT.
We estimated timber investment returns for 22 countries and 54 species/management regimes in 2017, for a range of global timber plantation species and countries at the stand level, using capital budgeting criteria, without land costs, at a real discount rate of 8%. Returns were estimated for the principal plantation countries in the Americas?Brazil, Argentina, Uruguay, Chile, Colombia, Venezuela, Paraguay, Mexico, and the United States?as well as New Zealand, Australia, South Africa, China, Vietnam, Laos, Spain, Finland, Poland, Scotland, and France. South American plantation growth rates and their concomitant returns were generally greater, at more than 12% Internal Rates of Return (IRRs), as were those in China, Vietnam, and Laos. These IRRs were followed by those for plantations in southern hemisphere countries of Australia and New Zealand and in Mexico, with IRRs around 8%. Temperate forest plantations in the U.S. and Europe returned less, from 4% to 8%, but those countries have less financial risk, better timber markets, and more infrastructure. Returns to most planted species in all countries except Asia have decreased from 2005 to 2017. If land costs were included in calculating the overall timberland investment returns, the IRRs would decrease from 3 three percentage points less for loblolly pine in the U.S. South to 8 percentage points less for eucalypts in Brazil. © 2020 The Authors

Palabras-Clave: | Benchmarking; Global trends; Internal rates of return; Land expectation value; Timber investments.
Categoría del tema: | K01 Ciencias forestales - Aspectos generales
URL: | https://www.sciencedirect.com/science/article/pii/S1389934119302564/pdfft?md5=fc04003afa99feda8af4cda48c80cfb1&pid=1-s2.0-S1389934119302564-main.pdf
Registro original: | INIA Las Brujas (LB)
Ejemplares: | LB - (102215-1) - PXI - AP - DD - Forest Policy and Economics/2020 -  -  - DIS