Main determinants of export-oriented bleached eucalyptus kraft pulp (BEKP) demand from the north-western regions of Spain

Marcos Álvarez-Díaz, Manuel González-Gómez and María Soledad Otero-Giráldez
Authors registered in the RePEc Author Service: Mª Soledad Otero Giráldez

Forest Policy and Economics, 2018, vol. 96, issue C, 112-119

Abstract: The aim of this article is to shed light on the most important determinants of bleached eucalyptus kraft pulp (BEKP) exports from the northwest coastal regions of Spain (i.e., Galicia and Asturias). The current study overcomes the problems of spurious regressions and non-stationary time series through cointegration. The research involves both testing the existence of a long-term equilibrium relationship between the variables and the estimation of an error correction model (ECM). The findings show that the Spanish BEKP exports from Galicia and Asturias are significantly affected by the economic conditions registered in Europe, and favoured by the inflationary processes of the main competing developing countries (Brazil, Chile, Uruguay). However, this competitive advantage has been offset through the fall of the external value of competing countries' currencies against the Euro. In addition, the results also indicate that new investments in plantation pulp and factories in competing developing countries reduce the competitiveness of the BEKP industry in north west Spain.

Keywords: Fast growing plantations pulp exports; Developing countries; Cointegration; Elasticity; Bootstrapping (search for similar items in EconPapers)
Date: 2018
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S1389934118301916
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:forpol:v:96:y:2018:i:c:p:112-119

DOI: 10.1016/j.forpol.2018.08.011

Access Statistics for this article

Forest Policy and Economics is currently edited by M. Krott

More articles in Forest Policy and Economics from Elsevier
Bibliographic data for series maintained by Catherine Liu ().