Influence of carbon sink value on China's wood price based on VAR model

doi:10.3969/j.issn.1000-2006.201707003

ZHU Tianjin, ZHAO Qingjian, YANG Hui, DING Sheng

JOURNAL OF NANJING FORESTRY UNIVERSITY ›› 2018, Vol. 42 ›› Issue (05) : 191-195.

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JOURNAL OF NANJING FORESTRY UNIVERSITY ›› 2018, Vol. 42 ›› Issue (05) : 191-195. DOI: 10.3969/j.issn.1000-2006.201707003

Influence of carbon sink value on China's wood price based on VAR model

ZHU Tianjin, ZHAO Qingjian, YANG Hui, DING Sheng^*

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Abstract

【Objective】Use the relevant policies of carbon sinks to adjust the price of wood, raise forest managers'income level, increase enthusiasm in forest management, and promote systematic development of the wood resources market.【Method】Use the data on China's carbon sink value and wood prices from 1994 to 2016 to establish the VAR model, and use impulse response function and variance decomposition to verify the impact of carbon sink value on wood prices.【Result】The impact of carbon sink value is a positive response to the price of wood; in the lag period of the second phase, the value impact of carbon sink induces large positive response in wood prices. Currently, the price of wood is most affected by the value of carbon sink, and maximizes total profits; the contribution of carbon sink value to the fluctuations in wood price reaches 15%.【Conclusion】The ability of carbon sequestration in forests plays an increasingly important role in forest growth, and should be considered in forest management. The value of carbon sequestration has a positive impact on the price of wood and realizes a double increase in the economic value of wood and ecological value of forests, and also maximizes the sum of carbon sink income and wood income. The government should attach importance to the value of forest's carbon sequestration and incorporate it into the wood price management system to improve forest managers'enthusiasm, provide solid logistics support, and basic human resources for the sustainable development of forestry.

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ZHU Tianjin, ZHAO Qingjian, YANG Hui, DING Sheng. Influence of carbon sink value on China's wood price based on VAR model[J]. JOURNAL OF NANJING FORESTRY UNIVERSITY. 2018, 42(05): 191-195 https://doi.org/10.3969/j.issn.1000-2006.201707003

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