Impacts of Economic Growth on Forest Products Consumption in Korea
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The paper examined econometrically the impacts of economic growth on forest productsconsumption in Korea for the period of 1980-2013. Economic growth was expressed by totalGDP, construction GDP and manufacturing GDP. The relationship between forest productsconsumption and economic growth was represented by bivariate vector autoregressive(VAR)model or vector error correction(VEC) model. The causality from economic growth to forestproducts consumption was measured by the Granger causality test. We found that theconsumption of most forest products was Granger-caused by total GDP. This means thatcausality runs from total GDP to the consumption of most forest products. And we confirmedthat construction GDP caused the consumption of hardwood roundwood, softwood lumber andplywood with each other. And, we also confirmed that manufacturing GDP caused theconsumption of plywood, particleboard and chemical pulp with each other. In conclusion,economic growth worked as the cause of increase in the consumption of most forest products inKorea.
Abstract
The paper examined econometrically the impacts of economic growth on forest productsconsumption in Korea for the period of 1980-2013. Economic growth was expressed by totalGDP, construction GDP and manufacturing GDP. The relationship between forest productsconsumption and economic growth was represented by bivariate vector autoregressive(VAR)model or vector error correction(VEC) model. The causality from economic growth to forestproducts consumption was measured by the Granger causality test. We found that theconsumption of most forest products was Granger-caused by total GDP. This means thatcausality runs from total GDP to the consumption of most forest products. And we confirmedthat construction GDP caused the consumption of hardwood roundwood, softwood lumber andplywood with each other. And, we also confirmed that manufacturing GDP caused theconsumption of plywood, particleboard and chemical pulp with each other. In conclusion,economic growth worked as the cause of increase in the consumption of most forest products inKorea.
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