 Wood market cartel in Finland 1997–2004: Analyzing price effects using the indicator approachJari Kuuluvainen, Jaana Korhonen, Lanhui Wang and Anne Toppinen Forest Policy and Economics, 2021, vol. 124, issue C Abstract: Drawing from the idea that income distribution is affected by imperfect market competition, this article examines the effect of a wood market cartel, where roundwood buyers illegally exchanged price information in Finland during 1997–2004. Prices before, during, and after the infringement period are examined using a comparator-based econometric approach with indicator variables in single-equation cointegrating models and in a seemingly unrelated regressions model. Using monthly data during 1996–2012, we investigate the prices of four softwood assortments, pine logs and pulpwood, and spruce logs and pulpwood, consisting of the majority of the industrial wood volume traded in the Finnish wood market. The results suggest that the price of pine pulpwood was statistically significantly affected and that the reduction in the price of pine pulpwood due to the infringement was on average about 10% over the 1997–2004 infringement period. Keywords: Indicator approach; Cartel effects; ARDL approach to cointegration; SUR; Roundwood market (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:forpol:v:124:y:2021:i:c:s1389934120307061 DOI: 10.1016/j.forpol.2020.102380 Access Statistics for this article Forest Policy and Economics is currently edited by M. Krott More articles in Forest Policy and Economics from Elsevier |
Is your work missing from RePEc? Here is how to contribute.
Questions or problems? Check the EconPapers FAQ or send mail to .
EconPapers is hosted by the
School of Business at Örebro University.