Working Paper No. 536

Strategic Investments in the Pulp and Paper Industry: A Count Data Regression Analysis

Published: September 25, 2000Pages: 31Keywords: Lumpy Investments, Prices, Market Size, Agglomeration, Distance, Investment DeterminantsJEL-codes: L11; L73; E22; D24

Strategic Investments in the Pulp and Paper Industry: A Count Data Regression Analysis Mats Bergman and Per Johansson


This paper analyses the effects of price and market size variables on the investment propensities in the pulp and paper industry. A panel of 15 European countries in the time period 1984 - 1997 is used in the regression analysis. We find the wages, the US/ECU exchange rate, the price of paper and the installed production capacity to be the main determinants of strategic investments in this industry. Our measure of market size have no - or only very small - effects.

Interdisciplinary European Studies

The European Union in a Changing World Order

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This book explores how the European Union responds to the ongoing challenges to the liberal international order. These challenges arise both within the EU itself and beyond its borders, and put into question the values of free trade and liberal democracy. 

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