@article{mccormick_laarman_1989, title={FINANCIAL SENSITIVITY OF ALTERNATIVE FORESTATION INCENTIVES IN ECUADOR}, volume={27}, ISSN={["1872-7042"]}, DOI={10.1016/0378-1127(89)90036-4}, abstractNote={Financial net present value (NPV) was computed for three lowland and three highland plantation species in Ecuador. The estimates of NPV were subjected to systematic sensitivity tests for each of four elements in the plantation cash flow: land costs; establishment costs; management costs; and harvest income. Sensitivity was measured in terms of NPV elasticities over two regions, six species, two site qualities, and three discount rates. The results indicated large variability in the elasticities from one case to another. This illustrates the difficulty of identifying a single form of plantation subsidy that will be universally effective.}, number={2}, journal={FOREST ECOLOGY AND MANAGEMENT}, author={MCCORMICK, CJ and LAARMAN, JG}, year={1989}, month={May}, pages={149–158} }