ARE FORESTRY AND FOREIGNERS BOUNTY FOR MACROECONOMIC PERFORMANCE? A Global Evidence

Abstract

Forestry provides economic, social and environmental benefits along with various forest products and services. It also offers the platform for economies to develop their industrial and trade base; and link forestry and economic growth of countries intended to be explore in this study. For empirical analysis, data set of 155 countries is employed for 15 years’ time-period from 1999-2013, where the estimation technique is system GMM for the dynamic panel data model. Empirical results demonstrate that forest resources and tourism are important for growth of economies. It is recommended that forest area should be preserved to enjoy its numerous economic and social benefits and to have clean and safe environment.

Keywords

• Timber
• Forest Exports
• Wood Energy
• Climate Change
• Tourism
• Sustainable Forest Management