Incluye bibliografía

1. Introduction -- 2. The basic conceptual literature: A. Forest production of wood and fiber -- B. Multiple forest products and non-timber forest resource services -- 3. Special topics: A. Timber production: plantations and natural management -- B. Smallholder management -- C. Research -- D. Secure rights: contracts and tenure -- E. Policy spillovers -- F. Multiple use, joint products, non-market forest outputs -- G. Deforestation and sustainability -- 4. Summary observations for forest policy analysis -- 5. References -- Appendix A: Managing tropical forests -- Appendix B: Elasticity and the rent gradient -- Literature cited in the appendix -- Tables.

This paper identifies the essential features of the forestry economics literature emphasizing what is different about forestry and what are forestry ' s important features for project and program analysis. The important conclusion, is that economic tools are both available and appropriate for the analysis of a wide range of forest policy problems. The report is divided into two parts. The characteristics that received special attention in the first part are the embodiment of both productive capital and final output in any standing forest inventory, and the long time periods that often distinguish forest production. A third distinguishing characteristics is the joint production nature of many forest resource services. The second part of the paper visits seven special topics that are important to forestry and economic development: (1) timber production; (2) smallholder forest management; (3) forestry research, education, and extension; (4) tenure; (5) policy spillovers from other sectors of the economy that can substantially alter forests and forestland management; (6) non-timber multiple use values; and (7) deforestation, timber famine or its counter, sustainable forest management.