COMPARATIVE DYNAMIC ANALYSIS OF VALUE ADDED CREATED BY INDUSTRY "FORESTRY AND LOGGING" IN THE BALTIC STATES AND FINLAND

The goal of this paper is to carry out the comparative dynamic analysis of value added as part of total output created by the industry A02 (Forestry and logging) in the Baltic States (LTA, LTU, EST) and Finland (FIN) for the period of 2000-2014. The empirical material of the research is the "National Input-Output tables for the period 2000-2014" available on the World Input-Output Database (WIOD) with its unified structured statistical information in monetary terms. The discussion part of the paper is devoted to identification of the most important reasons, which cause significant differences in the economic efficiency of industry A02 in LTA, LTU, EST, FIN. The time series of value added as part of total output in the industry A02 are investigated. The comparative approach allows us to recognize sufficient differences in the shape of value added trends in the industry A02 in different countries. Coefficient of variation for value added calculated using trend corrected data is offered as original industry dynamics attribute. The version of input-output model is the theoretical tool to establish the most important reasons, which cause significant differences in the productivity of the industry A02 in LTA, LTU, EST, FIN (in the sense of value added creation).