Factors affecting Bolivian mahogany exports with policy implications for the forest sector

A model of mahogany export supply and demand is developed to analyze how factors that have previously affected mahogany exports may impact future policy and management options for the government. Results lend some support to the conventional wisdom that commercial mahogany stocks have been declining substantially over time. Results also suggest that the total area under concession has had a less than proportional impact on mahogany exports. Coupled with the evidence that export supply is highly price sensitive, we conclude that if the Bolivian government is to control the extraction of mahogany, policy instruments that influence mahogany prices will likely be more influential than those that regulate the total area under forest concession.