@article{Akanni:231333,
      recid = {231333},
      author = {Akanni, K. A.},
      title = {Lumbering Activities and Market Equilibrium Analysis of  Timber Industry in South Western Nigeria},
      journal = {Sustainable Agriculture Research},
      address = {2013},
      number = {526-2016-37902},
      year = {2013},
      abstract = {The local lumbers, without restraints, are continually  exploiting the Nigerian forests. This trend causes a  massive reduction in the economic, recreational, water  purification and other benefits derivable from the forest  and forest products. The overall implication of this is  that there is a shortfall in the market supply of wood and  wood products in South Western Nigeria. This situation  poses some challenges to the government, private operators  and other stakeholders in timber industry. This study  therefore, investigated the implications of the activities  of the lumbers and the market equilibrium structure of wood  industry in the region. Both the stochastic production  frontier and market equilibrium analyses were done. Fuel,  credit and trucks’ carrying capacities significantly  determined the quantity of output of the lumbers. The  estimates of the sigma square, d2 (0.3811) and gamma, g,  (0.9001) were positively significant at 1% level. The log  likelihood function was large (24.6672) indicating a good  fit. Estimated demand elasticity indicated that N1.00  increase in market price produced 14.14 %, 52.73% and  55.12% decrease in the quantities demanded for 2x3x12,  3x4x12 and 2x6x12 wood sizes. To further increase the  output level of wood products in the region therefore, it  is necessary to stabilize fuel prices and make the product  available to the lumbers at the required time and  quantities.},
      url = {http://ageconsearch.umn.edu/record/231333},
      doi = {https://doi.org/10.22004/ag.econ.231333},
}