Timber harvest decision is one of the most important topics of forest economics. Martin Faustmann presented in 1849 the first "correct model" for determining the optimal time to harvest a forest stand. The Faustmann model builds on a set of restrictive assumptions that are far from realistic....

The global financial crisis has potentially many adverse effects on the developing world: falls in exports of goods and services to the OECD, dramatic falls in commodity prices and resource exports, and falls in remittances. Many of the poorer countries are heavily specialized and dependent on...