The Impact of International Trade of Raw Wood to the Economic Growth of Forest-Based Sectors in the Czech and Slovak Republics

Andrea Sujová (), Jakub Michal, Václav Kupčák and Roman Dudík

MPRA Paper from University Library of Munich, Germany

Abstract: International trade metrics can indicate the competitive advantage of the industry in international markets. However, the export of the raw materials utilized by the industry can influence company and industry performance negatively. This article assessed the effectiveness of the international trade with raw wood and its impact on the economic results of the industry. A system of indicators was formed to measure the international trade impact on the industry performance, and the following hypothesis was established: increasing the international trade with raw wood influences the economic growth of the industry negatively. The results confirmed the hypothesis, showing that the growth of export volume and also import of raw wood decreased industry performance during the monitored period. In the forestry sector, the more significant influence appeared in revenues, which influenced the profit most in the timber industry. Other findings demonstrated that the international wood trade in the Czech Republic and the Slovak Republic does not create a comparative advantage, but decreases competitiveness of the forestry sector.

Keywords: Economic growth; Foreign trade; Forestry sector; Raw wood (search for similar items in EconPapers)
JEL-codes: L69 M19 O47 (search for similar items in EconPapers)
Date: 2016-09-19
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Published in BioResources 1.12(2016): pp. 1102-1111

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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:108411

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