Forestry is the largest carrier of the
green economy. Its strong ecological and economic effect makes it the object of
green investment. To explore whether Chinese forestry investment is effectively
utilized, we measured the input-output efficiency of forestry investment in 31
provinces in China through the super-slack-based measure model and the Malmquist
index in the data envelopment analysis model. Based on this, we further analyze
the redundant (insufficient) situation of input (output) in inefficient regions
and changes in the efficiency of China’s forestry investment. The results show
that the comprehensive efficiency of forestry investment in most provinces of
China is low, among which the developed provinces are limited by input factors,
while the less developed provinces are affected by low-scale efficiency.
Second, the environmental benefit of forestry investment in the sample area is
not obvious, and the output of forest carbon sequestration is low. Third, the
efficiency of forestry investment in most provinces of China is improving, but
the application technology of forestry investment has become the main factor
hindering the improvement of forestry investment efficiency.
JEL classification numbers: E22, Q23, Q54.
Keywords: Forestry, investment efficiency, China.