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The Economic Value of Mangroves: A Meta-Analysis

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  • Marwa E. Salem

    ()
    (Department of Economics, North Carolina State University, 2801 Founders Drive, Raleigh, NC 27695, USA
    Faculty of Economics and Political Science, Cairo University, Tharwat St., Giza, 12613, Egypt)

  • D. Evan Mercer

    ()
    (Southern Research Station, USDA Forest Service, PO Box 12254, Research Triangle Park, NC 27709, USA)

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    Abstract

    This paper presents a synthesis of the mangrove ecosystem valuation literature through a meta-regression analysis. The main contribution of this study is that it is the first meta-analysis focusing solely on mangrove forests, whereas previous studies have included different types of wetlands. The number of studies included in the regression analysis is 44 for a total of 145 observations. We include several regressions with the objective of addressing outliers in the data as well as the possible correlations between observations of the same study. We also investigate possible interaction effects between type of service and GDP per capita. Our findings indicate that mangroves exhibit decreasing returns to scale, that GDP per capita has a positive effect on mangrove values and that using the replacement cost and contingent valuation methods produce higher estimates than do other methods. We also find that there are statistically significant interaction effects that influence the data. Finally, the results indicate that employing weighted regressions provide a better fit than others. However, in terms of forecast performance we find that all the estimated models performed similarly and were not able to conclude decisively that one outperforms the other.

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    Bibliographic Info

    Article provided by MDPI, Open Access Journal in its journal Sustainability.

    Volume (Year): 4 (2012)
    Issue (Month): 3 (March)
    Pages: 359-383

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    Handle: RePEc:gam:jsusta:v:4:y:2012:i:3:p:359-383:d:16556

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    Related research

    Keywords: mangroves; meta-regression analysis; nonmarket valuation;

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    1. Phaneuf, Daniel J. & Smith, V. Kerry, 2006. "Recreation Demand Models," Handbook of Environmental Economics, in: K. G. Mäler & J. R. Vincent (ed.), Handbook of Environmental Economics, edition 1, volume 2, chapter 15, pages 671-761 Elsevier.
    2. Gammage, Sarah, 1997. "Estimating the Returns to Mangrove Conversion: Sustainable Management or Short Term Gain?," Discussion Papers 24133, International Institute for Environment and Development, Environmental Economics Programme.
    3. Camille Bann, 1997. "An Economic Analysis of Alternative Mangrove Management Strategies in Koh Kong Province, Cambodia," EEPSEA Research Report rr1997113, Economy and Environment Program for Southeast Asia (EEPSEA), revised Nov 1997.
    4. Jon Nelson & Peter Kennedy, 2009. "The Use (and Abuse) of Meta-Analysis in Environmental and Natural Resource Economics: An Assessment," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 42(3), pages 345-377, March.
    5. Carson, Richard T. & Hanemann, W. Michael, 2006. "Contingent Valuation," Handbook of Environmental Economics, in: K. G. Mäler & J. R. Vincent (ed.), Handbook of Environmental Economics, edition 1, volume 2, chapter 17, pages 821-936 Elsevier.
    6. Luke Brander & Raymond Florax & Jan Vermaat, 2006. "The Empirics of Wetland Valuation: A Comprehensive Summary and a Meta-Analysis of the Literature," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 33(2), pages 223-250, 02.
    7. Costanza, Robert & Farber, Stephen C. & Maxwell, Judith, 1989. "Valuation and management of wetland ecosystems," Ecological Economics, Elsevier, vol. 1(4), pages 335-361, December.
    8. Brouwer, Roy, 2000. "Environmental value transfer: state of the art and future prospects," Ecological Economics, Elsevier, vol. 32(1), pages 137-152, January.
    9. Janusz R. Mrozek & Laura O. Taylor, 2002. "What determines the value of life? a meta-analysis," Journal of Policy Analysis and Management, John Wiley & Sons, Ltd., vol. 21(2), pages 253-270.
    10. Edward B. Barbier, 2007. "Valuing ecosystem services as productive inputs," Economic Policy, CEPR & CES & MSH, vol. 22, pages 177-229, 01.
    11. James Sanchirico & Michael Springborn, 2011. "How to Get There From Here: Ecological and Economic Dynamics of Ecosystem Service Provision," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 48(2), pages 243-267, February.
    12. Woodward, Richard T. & Wui, Yong-Suhk, 2001. "The economic value of wetland services: a meta-analysis," Ecological Economics, Elsevier, vol. 37(2), pages 257-270, May.
    13. Ronnback, Patrik, 1999. "The ecological basis for economic value of seafood production supported by mangrove ecosystems," Ecological Economics, Elsevier, vol. 29(2), pages 235-252, May.
    14. Andrea Ghermandi & Jeroen C.J.M. van den Bergh & Luke M. Brander & Henri L.F. de Groot & Paulo A.L.D. Nunes, 2009. "The Values of Natural and Constructed Wetlands: A Meta-Analysis," Tinbergen Institute Discussion Papers 09-080/3, Tinbergen Institute.
    15. Barbier, Edward B., 2000. "Valuing the environment as input: review of applications to mangrove-fishery linkages," Ecological Economics, Elsevier, vol. 35(1), pages 47-61, October.
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