• Journal of Korean Society of Forest Science
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• v.98 no.2
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• pp.148-155
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• 2009

The objective of this study is to know market structures of softwood logs being imported to South Korea from log producing countries. Import demand of softwood logs imported to South Korea from America, New Zealand and Chile is fixed as a function of log prices, the lagged dependent variable and output. On the basis of the adaptive expectations model, linear regression models that the explanatory variables included and the lagged dependent variable were estimated by Seemingly Unrelated Regression Equations (SURE). The short-run and long-run own price elasticity of America's softwood log import demand is -1.738 and -4.250 respectively. Then long-run elasticity is much higher than short-run elasticity. Short-run and long-run crosselasticity of New Zealand's softwood log import demand with respect to American's softwood log import price are inelastic at 0.505 and 0.883 respectively. Short-run and long-run cross-elasticity of Chile's softwood log import demands with respect to American's softwood log import prices were highly elastic at 2.442 and 4.462 respectively. Long-run elasticity was almost twice as high as short-run elasticity.

• Journal of Korean Society of Forest Science
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• v.90 no.1
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• pp.1-9
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• 2001

The objectives of this study were to explain market structures of logs imported to Korea from U.S.A., New Zealand. Chile. The demand for imported logs is modeled as a function of output of wood manufacturing in Korea and log prices of competing suppliers. It is hypothesized that the quantity of log impaled in a period is determined by its own and competing prices and the output of wood corresponding manufacturing sector in the current period. Import demand functions of logs imported to Korea from U.S.A., New Zealand and Chile were estimated by SURE(Seemingly Unrelated Regression Equations). Elasticities of amounts of logs imported to Korea from U.S.A., New Zealand and Chile with respect to price of imported log from U.S.A. were -2.88, 1.36 and 3.17, respectively. Elasticities of amounts of logs imported to Korea from U.S.A., New Zealand and Chile with respect to price of imported log from New Zealand were 0.71, -1.65 and 1.44, respectively, Elasticities of amounts of logs imported to Korea from U.S.A., New Zealand and Chile with respect to price of imported log from Chile was -2.88. 1.36 and 3.17.