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Planning development and integration of economics research into the Forest Research portfolio.

Vadim conducts economic research on the Forest Research portfolio.

He has a PhD on monetary issues in transition economies of Central and Eastern Europe from Queen Mary, University of London. He has worked for the Bank of Finland Institute for Economies in Transition in Helsinki on various macroeconomic issues in transition countries; and for the Department of Economics at the University of Stirling on applied economic research, including returns to education, simulating the cost of care for elderly people, and income determinants dynamics in older age.

Vadim joined Forest Research in December 2007.

Vadim Saraev on ResearchGate (Previously Vadims Sarajevs).

Vadim works on a range of projects, including:

Payments for ecosystem services and their valuation
Natural Capital approach
Economic benefits of green infrastructure
Optimal rotation length modelling with wind risk and carbon benefits
Risk and uncertainty modelling in forestry
Climate change adaptation and mitigation options modelling and evaluation
Econometrics and data analysis, programming in Python and R, numerical methods

Climate change


Northern Research Station

Bush Estate



Related Research


Economics of Woodland Creation in England

The Economics of Woodland Creation project aims to build England’s forest economic evidence base to help land managers and businesses make informed decisions on land use change and woodland management. This will be achieved through the collection and economic analysis of information on the financial implications of woodland creation options.

Status current


The potential for agroforestry to reduce net GHG emissions in Scotland through the Woodland Carbon Code

This research examines the potential of agroforestry to contribute to meeting greenhouse gas emissions reductions targets outlined in Scotland’s Climate Change Plan, and the economic viability of adopting agroforestry practices. It finds agroforestry has potential to sequester carbon and is generally financially viable, but benefits vary according to different factors.

Status completed
Valuing Non-Woodland Trees

This work helps us to understand the overall value of our treescape, in which non-woodland trees play a critical role. We define non-woodland trees as single trees in urban and rural places, groups of trees covering less than 0.1 hectares, and small woods covering less than 0.5 hectares.

Valuing the Mental Health Benefits of Forestry – Phase 2

This research presents an estimate of the mental health benefits associated with the UK’s woodlands, using an approach valuing woodland through reduced prevalence of mental illnesses. Indicative estimates are derived for potential inclusion of mental health benefits in UK natural capital accounts and for use in project and policy appraisal.

Developing an Approach to Monitoring the Health and Well-Being Benefits of Visits to Scotland’s Forests

This project reviewed evidence on the health and well-being benefits, and social and cultural benefits, of visits to forests, as well as the methods to measure and monitor them. It also provides recommendations for monitoring these benefits to support the implementation of Scotland’s Forestry Strategy 2019-2029.

Valuing mental health benefits of forests

This research examines approaches to valuation of the mental health benefits of forests and proposes how monetary valuation of these benefits can be developed further. It examines metrics to quantify mental health impacts, methodologies to value changes in these and potential for incorporating associated values into natural capital accounting

Economics of risk and tipping points: approaches to valuing forest resilience

A review of economic approaches to risk and uncertainty, tipping points and resilience in forestry. A conceptual framework for the resilience valuation and its interaction with risk is proposed

Developing multi-stand / CCF version of optimal rotation length prototype model

Explores optimal management in a multi-stand / Continuous Cover Forestry (CCF) setting and various ecosystem services and benefits provided by complex forests.

Biodiversity and rotation length

Investigate how to incorporate biodiversity into an optimal rotation length model through literature review and data re-analysis of biodiversity links with stand age.

Integrated optimal rotation length modelling

Optimal rotation length model, which accounts for timber production and climate change mitigation (in terms of carbon benefits) and adaptation (in terms of windthrow risks), is developed.

Greenspace initiatives: assessing evidence for economic benefits

The page summarises the findings and recommendations from Forest Research’s critical assessment of the evidence and estimates used in valuations of initiatives to create or improve greenspace.

Health benefits of street trees

The page summarises the findings of Forest Research’s comprehensive literature review to assess economic evidence on the health benefits provided by street trees.

Scoping study: assessment of the UK woodfuel supply chain

The page summarises Forest Research’s review of the UK woodfuel supply chain covering pricing and production cost dynamics and an assessment of knowledge gaps.

Estimating amenity values of street trees and woodland views: a methodological review

The page summarises the findings of Forest Research’s review into methodologies for estimating the benefits (amenity value) delivered by street trees and woodland views.

Review: street tree valuation systems

The page summarises the findings of Forest Research’s assessment of three systems for calculating the amenity value of street trees.

Related Publications


Valuing the mental health benefits of woodlands

This study is the first attempt to provide national estimates of the natural capital value of the mental health benefits provided by UK woodlands.



How does a biodiversity value impact upon optimal rotation length? An investigation using species richness and forest stand age

A study integrating biodiversity data for British forests with economic modelling of optimal rotation length. Investigation revealed some evidence of relationships between overall species richness and stand age.

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. It is also increasingly linked to climate change adaptation and mitigation strategies. In view of the priority given to these policy agendas, it is important that new models take an integrated approach to accounting for […]

Other Research

Forest economics: appraisal, valuation and incentives

Peer reviewed journal articles

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.