• Journal of Korean Society of Forest Science
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• v.95 no.2
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• pp.203-208
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• 2006

This study compared the roundwood demand prediction accuracy of econometric and time-series models using Korean data. The roundwood was divided into softwood and hardwood by species. The econometric model of roundwood demand was specified with four explanatory variables; own price, substitute price, gross domestic product, dummy. The time-series model was specified with lagged endogenous variable. The dummy variable reflected the abrupt decrease in roundwood demand in the late 1990's in the case of softwood roundwood, and the boom of plywood export in the late 1970's in the case of hardwood roundwood. On the other hand, the prediction accuracy was estimated on the basis of Residual Mean Square Errors(RMSE). The results showed that the softwood roundwood demand prediction can be performed more accurately by econometric model than by time-series model. However, the hardwood roundwood demand prediction accuracy was similar in the case of using econometric and time-series model.

• Korean Journal of Agricultural Science
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• v.25 no.1
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• pp.41-51
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• 1998

This study not only carried out to grasp about the sununarized characteristics of the relationship between international timber market and production trend of wood products, but also focused on the analysis of korean wood demand and the long-term forecast with econometric analysis. The result of regression analysis for wood demand in Korea is that coniferous roundwood demand(CIWD) is explained by coniferous foreign roundwood price(CWRI), Gross domestic product(GDP), a dummy variable. Non-coniferous roundwood demand(NCIWD)is explained by non-coniferous roundwood price(NCWRI), coniferous roundwood price(CWRI), a dummy variable. As the result of long-term forecast by base case, the total roundwood demand was forecasted $11,107,000m^3$ in the year 2000, $11,781,000m^3$ in 2005, $12,565,000m^3$ in 2010. As the result of scenario 1, total roundwood demand was forecasted $11,027,000m^3$ in 2000, $11,435,000m^3$ in 2005, $11,952,000m^3$ in 2010. And as the result by scenario 2, total roundwood demand was forecasted $11,341,000m^3$ in 2000, $12,208,000m^3$ in 2005 $13,257,000m^3$ in 2010.

• Journal of Korean Society of Forest Science
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• v.81 no.2
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• pp.124-138
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• 1992

This study was carried out to estimate long-term demand functions, and to project consumption of roundwood to the year 2030, using time series data for the period 1970-1990. Especially, the unique features of this study are in the estimation of demand functions for roundwood by species group and by end-use with help of dummy variables. It also, attempts to show how dummy variables can be utilized for improving the estimation result. The result of this study reveals that hardwood roundwood consumption is being substituted by softwood roundwood due to the rapid increase in the relative price of softwood, and this trend is expected to continue in the near future. The consumption of roundwood by mining industry is projected to fall as the coal :mining is expected to decline. The parametric estimates of timber demand function by species group and by end-use indicate that the demand for timber in Korea is more responsive to the performance of domestic economy as a whole, represented by GDP in this study, than to other variables such as own and substitute prices. The effects of population growth and substitute prices could not be determined.