Benefits and costs of impeding free trade: Revisiting British Columbia's restrictions on log exports |
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| Institution: | 1. Department of Forestry Economics and Management, Faculty of Forestry and Wood Sciences, Czech University of Life Sciences Prague, Kamýcká 129, 165 21 Praha 6 – Suchdol, Czech Republic;2. Department of Forest Strategy, Policy and Economics, National Forest Centre – Forest Research Institute Zvolen, T.G. Masaryka 22, 960 92 Zvolen, Slovak Republic;3. Department of Economics and Management of Forestry, Faculty of Forestry, Technical University in Zvolen, T.G. Masaryka 24, 960 53 Zvolen, Slovak Republic;4. Institute for Forest Consulting and Education, National Forest Centre Zvolen, Sokolská 2, 960 52 Zvolen, Slovak Republic;1. School of Public Finance and Taxation, Southwestern University of Finance and Economics, Chengdu, 611170, PR China;2. School of Statistics and Applied Mathematics, Anhui University of Finance and Economics, Bengbu, 233030, PR China;3. School of International Auditing, Nanjing Audit University, Nanjing, 211815, PR China;1. Universidade do Estado de Mato Grosso (UNEMAT), Programa de Pós-graduação em Ecologia e Conservação, Nova Xavantina, MT 78690-000, Brazil;2. Universidade Federal de Goiás, Programa de Pós-Graduação em Ecologia e Evolução, Goiânia, GO 74001-970, Brazil;3. UNEMAT, Departmento de Ciências Biológicas, Caixa Postal 08, Nova Xavantina, MT 78690-000, Brazil;4. Universidade de Brasília, Programa de Pós-graduação em Ciências Florestais, Brasília, DF 70919-970, Brazil;5. Geography, College of Life and Environmental Sciences, University of Exeter, Exeter, United Kingdom;1. Dept. of Forest Sciences, University of Helsinki, PO Box 27 (Latokartanonkaari 7), 00014 University of Helsinki, Finland;2. Finnish Forest Association, Salomonkatu 17 A, 00100 Helsinki, Finland;3. Finnish Forest Research Institute Metla, PO Box 18 (Jokiniemenkuja 1), 01301 Vantaa, Finland;1. Industrial Engineering Department, Faculty of Engineering, Ferdowsi University of Mashhad, Mashhad, Iran;2. Department of Information, Logistics and Innovation, VU University Amsterdam, Amsterdam, The Netherlands;3. University of New South Wales, Canberra, Australia |
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| Abstract: | The government of British Columbia (BC) imposes restrictions on the export of logs from public and private forestlands, primarily to promote local processing and associated employment benefits. Most economists wholeheartedly oppose BC's export restrictions, arguing that BC's citizens are worse off as a result of the government's measures. In this paper, it is shown that, while free trade in logs might well maximise global wellbeing, it might not necessarily result in the greatest benefit to BC. Indeed, both economic theory and a follow-up numerical analysis indicate that some restrictions on the export of logs can lead to higher welfare for BC than free trade. Thus, log export restrictions could be economically efficient from a local perspective, but only if the transaction costs of obtaining necessary permits are not excessive. |
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| Keywords: | International trade Log exports Forest industry Quota rents |
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