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Formal and Informal Markets for Water: Institutions, Performance, and Constraints

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  • Easter, K William
  • Rosegrant, Mark W
  • Dinar, Ariel

Abstract

Water markets -- either formal or informal -- can be an efficient method for reallocating scarce water supplies. At the same time certain constraints can raise the transaction costs of trading water. This paper reviews the conditions necessary to establish successful water markets, identifies potential problems, and offers mitigating strategies. It also uses examples of several informal and formal water markets already in operation to illustrate these problems and the solutions to them. Copyright 1999 by Oxford University Press.

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File URL: http://www.worldbank.org/research/journals/wbro/obsfeb99/pdf/article5.pdf
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Bibliographic Info

Article provided by World Bank Group in its journal World Bank Research Observer.

Volume (Year): 14 (1999)
Issue (Month): 1 (February)
Pages: 99-116

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Handle: RePEc:oup:wbrobs:v:14:y:1999:i:1:p:99-116

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References

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  1. Thobani, Mateen, 1997. "Formal Water Markets: Why, When, and How to Introduce Tradable Water Rights," World Bank Research Observer, World Bank Group, vol. 12(2), pages 161-79, August.
  2. Hearne, Robert R. & William Easter, K., 1997. "The economic and financial gains from water markets in Chile," Agricultural Economics, Blackwell, vol. 15(3), pages 187-199, January.
  3. Smith, Vernon L, 1985. "Experimental Economics: Reply," American Economic Review, American Economic Association, vol. 75(1), pages 264-72, March.
  4. Hearne, Robert R. & Easter, K. William, 1997. "The economic and financial gains from water markets in Chile," Agricultural Economics: The Journal of the International Association of Agricultural Economists, International Association of Agricultural Economists, vol. 15(3), January.
  5. Kling, Catherine L. & Weinberg, Marca & Wilen, James, 1993. "Water Markets and Water Quality," Staff General Research Papers 1572, Iowa State University, Department of Economics.
  6. Meinzen-Dick, Ruth Suseela, 1996. "Groundwater markets in Pakistan: participation and productivity," Research reports 105, International Food Policy Research Institute (IFPRI).
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Citations

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Cited by:
  1. Anonymous, 2003. "Water Rights Arrangements in Australia and Overseas," Commission Research Papers 31899, Productivity Commission.
  2. Basil Sharp, 2002. "Institutions and Decision Making for Sustainable Development," Treasury Working Paper Series 02/20, New Zealand Treasury.
  3. Stephen Bell & John Quiggin, . "The Metagovernance of Markets: The Politics of Water Management in Australia," Murray-Darling Program Working Papers WP6M06, Risk and Sustainable Management Group, University of Queensland.
  4. Qureshi, M. Ejaz & Shi, Tian & Qureshi, Sumaira E. & Proctor, Wendy, 2009. "Removing barriers to facilitate efficient water markets in the Murray-Darling Basin of Australia," Agricultural Water Management, Elsevier, vol. 96(11), pages 1641-1651, November.
  5. M Ejaz Qureshi & Tian Shi & Sumaira Qureshi & Wendy Proctor & Mac Kirby, 2009. "Removing Barriers to Facilitate Efficient Water Markets in the Murray Darling Basin – A Case Study from Australia," Socio-Economics and the Environment in Discussion (SEED) Working Paper Series 2009-02, CSIRO Sustainable Ecosystems.
  6. Erik Ansink & Harold Houba, 2010. "Market Power in Water Markets," Tinbergen Institute Discussion Papers 10-054/1, Tinbergen Institute, revised 16 May 2011.
  7. R. Quentin Grafton & Clay Landry & Gary D. Libecap & Sam McGlennon & Bob O’Brien, 2010. "An Integrated Assessment of Water Markets: Australia, Chile, China, South Africa and the USA," ICER Working Papers 32-2010, ICER - International Centre for Economic Research.
  8. Khan, Shahbaz & Rana, Tariq & Hanjra, Munir A. & Zirilli, John, 2009. "Water markets and soil salinity nexus: Can minimum irrigation intensities address the issue?," Agricultural Water Management, Elsevier, vol. 96(3), pages 493-503, March.
  9. Erik Ansink & Harold Houba, 2010. "Market Power in Water Markets," Tinbergen Institute Discussion Papers 10-054/1, Tinbergen Institute, revised 16 May 2011.
  10. Dutta, Mrinal Kanti, 2012. "Institution of Ground Water Market for Management of Ground Water Resource: A Study from Assam in Northeast India," 2012 Conference (56th), February 7-10, 2012, Freemantle, Australia 124291, Australian Agricultural and Resource Economics Society.
  11. Shiferaw, Bekele & Reddy, V. Ratna & Wani, Suhas P., 2008. "Watershed externalities, shifting cropping patterns and groundwater depletion in Indian semi-arid villages: The effect of alternative water pricing policies," Ecological Economics, Elsevier, vol. 67(2), pages 327-340, September.

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