This Comment synthesises a PhD by Publications research narrative on the theme of economic incentives for tropical forest management and conservation. The narrative reveals an evolution from a focus on market incentives and non-market benefits to an increasing emphasis on governance and regulatory incentives in explaining stakeholder behaviour to the forest resource. It was found that in general market incentives for timber-based sustainable forest management (SFM) and conservation are weak. It is concluded that key missing ingredients for SFM and conservation are domestic and global governance, including regulations that create payments for ecosystem service (PES) markets and capture public good values, secure property rights for resident stakeholders and more appropriate extra-sectoral policies. Because of their global public good values, the survival of tropical forests is contingent on the actions of the international community and governments.