Economics of Woodland Creation in England
Author(s): Gregory Valatin, Vadim Saraev, Robert Hattersley, Wen Hao Low, Eleanor Gardner, Romain Thurin
Vadim Saraev
MSc, PhD
Vadim Saraev
MSc, PhDSenior Economist
Climate change
Northern Research Station, Roslin, Midlothian EH25 9SY
About Vadim Saraev
Vadim holds a PhD from Queen Mary, University of London, where he investigated monetary issues in the transition economies of Central and Eastern Europe. Prior to joining Forest Research in December 2007, he worked at the Bank of Finland Institute for Economies in Transition (Helsinki), analysing macroeconomic developments in transition countries. He also held a research fellow position in the Department of Economics at the University of Stirling, contributing to applied economic studies on topics such as returns to education, the cost of elderly care, and income dynamics in later life.
His current research interests encompass optimal rotation length modelling, valuing health benefits of woodlands, payments for ecosystem services and their valuation, economic benefits of green infrastructure, natural capital assessment, modern robust portfolio optimisation, risk and uncertainty modelling, econometrics, dynamic optimisation, numerical analysis, and simulation. He is proficient in programming with Python and R.
What Vadim does
Vadim conducts economic research at Forest Research, focusing on the valuation of ecosystem services and the benefits provided by Britain’s forests in the context of climate change. He has extensive experience managing research projects and currently oversees a team of assistant economists.
Research
The potential for agroforestry to reduce net GHG emissions in Scotland through the Woodland Carbon Code
Author(s): Vadim Saraev, Wen Hao Low, Kate Beauchamp, Mike Perks
Valuing Non-Woodland Trees
Author(s): Kieron Doick, Gregory Valatin, Vadim Saraev, Madalena Vaz Monteiro, Hannah Walker
Valuing the Mental Health Benefits of Forestry – Phase 2
Author(s): Vadim Saraev
Developing an Approach to Monitoring the Health and Well-Being Benefits of Visits to Scotland’s Forests
Author(s): Vadim Saraev
Valuing mental health benefits of forests
Author(s): Vadim Saraev
Economics of risk and tipping points: approaches to valuing forest resilience
Author(s): Vadim Saraev
Developing multi-stand / CCF version of optimal rotation length prototype model
Author(s): Vadim Saraev
Publications
Valuing the mental health benefits of woodlands
Access to woodlands is very important for individuals to support their mental health and well-being. However, these benefits have yet…
Lead Author: Vadim Saraev
How does a biodiversity value impact upon optimal rotation length? An investigation using species richness and forest stand age
We have conducted one of the first attempts to integrate empirical biodiversity data with economic modelling of optimum rotation length…
Lead Author: Vadim Saraev
Timber, carbon and wind risk: towards an integrated model of optimal rotation length
Modern forest management practice increasingly adopts an ecosystem services approach to account for the multiple benefits and objectives of forestry.…
Lead Author: Vadim Saraev
Other Publications
Fremantle, C., Vergunst, J., Barwell, L. J., Bevan, A., Cavers, S., Clarke, J., Collins, T. M., Collins, R. G., Combe, M. M., Cottrell, J., Douglas, A., Edwards, D., Ellison, A. M., Heddon, D., Heim, W., Kalshoven, P. T., Marion, G., Oliver, S., Saraev, V., & Veenman, S. (2025). What do indeterminacy and uncertainty mean in landscape research? Perspectives from natural sciences, social sciences, and arts. Landscape Research, 0(0), 1–19. https://doi.org/10.1080/01426397.2025.2537772.
Saraev, V., Jones, G., O’Brien, L., Hall, C., McConnachie, S., Forster, J., & Dyke, A. (2024). Quantifying the unseen benefits: an innovative economic valuation of the social and cultural values of trees, woods, and forests at risk. Arboricultural Journal, 1–13. https://doi.org/10.1080/03071375.2024.2416317.
Saraev, V., Ahtikoski, A., Whittet, R., & Ray, D. (2024). ‘Economic evaluation of reopening a dormant tree improvement programme: a case study with Scots pine in Scotland’, Forestry: An International Journal of Forest Research, p. cpae037. Available at: https://doi.org/10.1093/forestry/cpae037.
O’Brien, L., McConnachie, S., Hall, C., Forster, J., Dyke, A., Saraev, V., & Jones, G. (2024). Exploring the social and cultural values of trees and woodlands in England: A new composite measure. People and Nature, 6(3), 1334–1354. https://doi.org/10.1002/pan3.10644.
Saraev, V., Low, W. H., Beauchamp, K., & Perks, M. (2022). The potential for agroforestry to reduce net GHG emissions in Scotland through the Woodland Carbon Code. https://doi.org/http://dx.doi.org/10.7488/era/2526
Forest Research (2022) Valuing Non-Woodland Trees. Part 2: Valuation. A report to Defra’s Future Proofing Plant Health Programme. Farnham, Surrey, UK.
Saraev, V., Low, W. H., Beauchamp, K., & Perks, M. (2022) The potential for agroforestry to reduce net GHG emissions in Scotland through the Woodland Carbon Code. Edinburgh, UK. Available at: https://doi.org/http://dx.doi.org/10.7488/era/2526
Saraev, V., O’Brien, L., Valatin, G., and Bursnell, M. (2021) Valuing the Mental Health Benefits of Woodlands. Research Report, Forest Research. Edinburgh, UK. Available at: Valuing the Mental Health Benefits of Forestry – Phase 2 – Forest Research
Beauchamp, K. et al. (2020) Environment and Rural Affairs Monitoring & Modelling Programme (ERAMMP). ERAMMP Report-32: National Forest in Wales – Evidence Review. Available at: National Forest Evidence Pack.
Saraev, V., Valatin, G., Peace, A., and Quine, C. (2019). How Does a Biodiversity Value Impact upon Optimal Rotation Length? An Investigation Using Species Richness and Forest Stand Age. Forest Policy and Economics
Saraev, V., Edwards, D. and Valatin, G. (2017) Timber, carbon and wind risk: towards an integrated model of optimal rotation length. Edinburgh, UK
Saraev, V., MacCallum, S., Moseley, D. and Valatin, G. (2017) Valuation of Welsh Forest Resources. Edinburgh, UK
Barsoum, N., Gill, R., Henderson, L., Peace, A., Quine, C., Saraev, V., and G. Valatin (2016) Biodiversity and rotation length: economic models and ecological evidence. Forestry Commission Research Note, FCRN022.
Saraev, V. (2015). Estimating the amenity value of woodland views at a national scale with applied GIS spatial analysis. Scottish Forestry, 69 (1), 18-25.
Ambrose-Oji, B., Saraev, V., Peace, A., Conolly, T., Stewart, A., Chetcuti, J and Edwards, D., (2014) An Evaluation of the WIAT Challenge Fund: Changing use patterns, the value of recreation and health benefits, and lessons learned. Roslin, Forest Research report to Forestry Commission Scotland.
Saraev, V. (2012). Economic benefits of greenspace: a critical assessment of evidence of net economic benefits. Forestry Commission Research Report. Forestry Commission. Edinburgh.
Valatin, G., and Saraev, V. (2012). Natural Environment Framework: Woodland Creation case study. Research Report. Forest Research. Edinburgh.
Ambrose-Oji, B., Stewart A., Handley P., Sarajevs V., and Valatin G. (2012). Evaluation of the Better Woodlands for Wales Grant Scheme, Research Report, Forest Research, Farnham.
Sarajevs, V. (2011). Health Benefits of Street Trees. Research Note. Forest Research. Edinburgh.
Sarajevs, V. (2011) “Street tree valuation systems” Forestry Commission Research Note, FCRN008
Sarajevs, V. (2011) “Estimating aggregate amenity value of woodland views using spatial analysis”, Chapter 7 in Ambrose-Oji, B., and Fancett, K., (Eds.), 2011, Woods and forests in British society: progress in research and practice. Forest Research Monograph: 3. ISBN 978-0-85538-828-7
FOREST RESEARCH (2010). Benefits of green infrastructure. Report to Defra and CLG. October 2010. Forest Research. Farnham. Contributed to Chapters 2 & 5.