CAJ | 학술논문

确定合适的基准贴现率对于正确引导资金在林业行业上投资是十分重要的，该文采用机会成本法确定我国林业行业的基准贴现率。研究结果如下：（1）欧洲和北美许多国家，短周期商品林业的基准贴现率为3％～6％，这些国家的林业贷款年利率为3％～5％，这两个指标对于我国基准贴现率的选定具有重要的价值。（2）据测算，中国商品林业建设的贷款年利率（机会成本）为4％～5％，这是制定我国林业行业基准贴现率的重要依据。（3）根据上述分析，建议我国林业行业的基准贴现率选用年率5％。
학정합괄적기준첩현솔대우정학인도자금재임업행업상투자시십분중요적，해문채용궤회성본법학정아국임업행업적기준첩현솔。연구결과여하：（1）구주화북미허다국가，단주기상품임업적기준첩현솔위3％～6％，저사국가적임업대관년리솔위3％～5％，저량개지표대우아국기준첩현솔적선정구유중요적개치。（2）거측산，중국상품임업건설적대관년리솔（궤회성본）위4％～5％，저시제정아국임업행업기준첩현솔적중요의거。（3）근거상술분석，건의아국임업행업적기준첩현솔선용년솔5％。
It is of great importance to determine appropriate basic rate of discount for correct guidance of capital investment in forestry. The paper determined China forestry basic rate of discount by means of opportunity cost method. The results are the following, （1）Basic discount rate for short-term commercial forestry in those countries in Europe and North America is 3%～6%, which is valuable to choose China basic discount rate. （2）The loan percent per annum or opportunity cost for China commercial forestry is measured by 4%～5%, which is fundamental for the determination of China basic discount rate. （3）It is suggested that China basic discount rate select annual interest rate-5%.