Scandinavian Working Papers in Economics

Umeå Economic Studies,
Umeå University, Department of Economics

No 536: Strategic Investments in the Pulp and Paper Industry: A Count Data Regression Analysis

Mats Bergman () and Per Johansson ()
Additional contact information
Mats Bergman: Research Institute of Industrial Economics, Postal: Box 5501, SE-114 85 Stockholm, Sweden
Per Johansson: IFAU - Office of Labour Market Policy Evaluation, Postal: SE-751 20 Uppsala, Sweden

Abstract: The effects of price and market size variables on the investment propensities in the pulp and paper industry are analyzed. A panel of 15 European countries for the time period 1984 - 1997 is used in the regression analysis. We find that the wages, the $US/ECU$ exchange rate, the price of paper and the installed production capacity are the main determinants of strategic investments in this industry. There are no - or only very small - effects from our measures of market size.

Keywords: Lumpy investments; Prices; Market size; Agglomeration; Distance

JEL-codes: L11; L16

31 pages, May 16, 2000

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