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\hypersetup{pdftitle={How to Promote Reforestation and Sustainable Forest Management in the American  tropics through Trade?: New Experiences in Costa Rica},pdfauthor={Carlos Rodríguez Plazas, Guillermo Navarro Monge, German Obando Vargas, Carlos Porras Salazar, Ronnie de Camino},pdfsubject={Tropentag 2010: Abstract},pdfkeywords={Auction, forest plantation, marketing scheme, natural forest, price of wood, standing timber, timber , trade, wood logs},pdfpagemode=None,colorlinks=true}
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\parbox[b]{13.4cm}{\centering \large{\textbf{Tropentag, September 14-16, 2010, Zurich}}\\[1ex] \Large{``World Food System  ---\\A Contribution from Europe''\\[2ex]}}
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\Large{\textbf{How to Promote Reforestation and Sustainable Forest Management in the American  tropics through Trade?: New Experiences in Costa Rica\footnote{\textbf{Contact Address:} Carlos Rodríguez Plazas, Tropical Agricultural Research and Higher Education Center (CATIE), Latin American Chair of Forest Policy and Economics, CATIE, 7170, 7170~Turrialba, Costa Rica, \mbox{e-mail}: \email{crodrigu@catie.ac.cr}}\\[0.8ex]}}
\normalsize{\textsc{Carlos Rodríguez Plazas$^{1}$, Guillermo Navarro Monge$^{1}$, German Obando Vargas$^{2}$, Carlos Porras Salazar$^{2}$, Ronnie de Camino$^{1}$}}
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\begin{itemize*}
\item[]{\small{\textit{$^{1}$Tropical Agricultural Research and Higher Education Center (CATIE), Costa Rica}}}
\item[]{\small{\textit{$^{2}$Fundación para el desarrollo de la cordillera volcánica central (FUNDECOR), Costa Rica}}}
\end{itemize*}
\index[author]{Rodríguez Plazas, Carlos}
\index[author]{Navarro Monge, Guillermo}
\index[author]{Obando Vargas, German}
\index[author]{Porras Salazar, Carlos}
\index[author]{de Camino, Ronnie}
\begin{center}
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\textbf{Abstract}
\begin{abstract}
\normalsize{
This research carried out an analysis about a wood marketing scheme supported by a Costa Rican NGO (FUNDECOR), known as ``subasta de madera en pie'' or auction of standing timber'' on the profitability for small and medium"=scale landowners in the North Atlantic Region of Costa Rica. 



For this purpose, the stumpage market schemes in the region were characterised, and the profitability of the forestry investment was calculated, using the present value method called: König-Faustmann or Land Expected Value formula (LEV), applied to three forest plantation species and a natural forest type, evaluating the forest investment sensitivity over two of these marketing schemes: the traditional, and the auction method. Where the auction method showed major impacts on farmer´s profitability, between 30--\mbox{168\,\%} in forest plantations and 



\mbox{107\,\%} in natural forests. 



Similarly, another profitability analysis was done, using the same method, where the sensitivity of forestry investment to the presence or absence  of a PES scheme in the three forest plantations species and natural forest type discussed above was evaluated. It was proven that the effect on the profitability of investment in forest plantations was greater with the auction scheme from FUNDECOR than with a PES scheme. 



Moreover, for a producer with a \mbox{3.5\,\%} discount rate (base rate used for the analysis), a natural forest was not approved as an investment, using the LEV criterion. Finally, was calculated the minimum amount required to compensate this type of private forest landowners, for the opportunity cost of their land. }

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\noindent \textbf{Keywords:} Auction, forest plantation, marketing scheme, natural forest, price of wood, standing timber, timber , trade, wood logs
\index[key]{Auction}
\index[key]{Forest!plantation}
\index[key]{Marketing scheme}
\index[key]{Natural!forest}
\index[key]{Price of wood}
\index[key]{Standing timber}
\index[key]{Timber }
\index[key]{Trade}
\index[key]{Wood logs}
\end{document}