Harvest restrictions: An analysis of new capital expenditures in the Pacific Northwest and the South

The short-term response of the forest products industry to harvest restrict ions in the Pacific Northwest has been to shift harvesting to other regions . However,the long-term response is not yet clear. New capital expenditure patterns in the Pacific Northwest and the South provide insight into the in dustry's long-term intentions. Southern investment increased significantly after the harvest restrictions were imposed. Pacific Northwest investment h as been declining over time. but no significant shifts occurred after restr ictions were imposed.