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The Economic Value of Wetland Conservation and Creation: A Meta-Analysis

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  • Ghermandi, Andrea
  • van den Bergh, Jeroen C.J.M.
  • Brander, Luke M.
  • de Groot, Henri L.F.
  • Nunes, Paulo A.L.D.

Abstract

The rationale for conservation and creation of wetlands stems from the recognition of both their ecological and economic values. This paper examines the welfare impacts of goods and services provided by wetlands. We collected 385 estimates of the economic value of 181 natural and man-made wetlands from 167 studies worldwide. The resulting database is less biased towards North America than previous reviews of the literature. The relative importance of characteristics of the valuation study, of the wetland site, and of the socio-economic and geographical context is estimated by means of a meta-regression analysis of wetland values. Provision of amenities, flood control and storm buffering, and water quality improvement are the most highly valued wetland services. The relevance of the socio-economic and geographical context clearly emerges from the analysis and, in particular, the proximity to other wetland sites is negatively correlated with valuations. An analysis of the effect of environmental stress on wetland value shows that the latter increases with stress from human development activities and uses. In addition to the basic meta-regression model, the influence of authorship effects and of the geographic regions is examined by means of a multi-level approach. A second extended meta-regression model including cross-effects shows that the valuations of specific services vary according to the type of wetland producing them.

Suggested Citation

  • Ghermandi, Andrea & van den Bergh, Jeroen C.J.M. & Brander, Luke M. & de Groot, Henri L.F. & Nunes, Paulo A.L.D., 2008. "The Economic Value of Wetland Conservation and Creation: A Meta-Analysis," Sustainability Indicators and Environmental Valuation Working Papers 44229, Fondazione Eni Enrico Mattei (FEEM).
  • Handle: RePEc:ags:feemsi:44229
    DOI: 10.22004/ag.econ.44229
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    1. 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, Springer;European Association of Environmental and Resource Economists, vol. 33(2), pages 223-250, February.
    2. Barbier Edward B & Heal Geoffrey M, 2006. "Valuing Ecosystem Services," The Economists' Voice, De Gruyter, vol. 3(3), pages 1-6, February.
    3. Ian J. Bateman & Andrew P. Jones, 2003. "Contrasting Conventional with Multi-Level Modeling Approaches to Meta-Analysis: Expectation Consistency in U.K. Woodland Recreation Values," Land Economics, University of Wisconsin Press, vol. 79(2), pages 235-258.
    4. Milon, J. Walter & Scrogin, David, 2006. "Latent preferences and valuation of wetland ecosystem restoration," Ecological Economics, Elsevier, vol. 56(2), pages 162-175, February.
    5. 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.
    6. Brouwer, Roy, 2000. "Environmental value transfer: state of the art and future prospects," Ecological Economics, Elsevier, vol. 32(1), pages 137-152, January.
    7. Shrestha, Ram K. & Seidl, Andrew F. & Moraes, Andre S., 2002. "Value of recreational fishing in the Brazilian Pantanal: a travel cost analysis using count data models," Ecological Economics, Elsevier, vol. 42(1-2), pages 289-299, August.
    8. World Bank, 2006. "World Development Indicators 2006," World Bank Publications - Books, The World Bank Group, number 8151, December.
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    10. Sip, Robert L. & Leitch, Jay A. & Meyer, Aaron J., 1998. "An Economic Assessment Of Wetland Mitigation In Northwest Minnesota," Agricultural Economics Reports 23477, North Dakota State University, Department of Agribusiness and Applied Economics.
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    Cited by:

    1. Chaikumbung, Mayula & Doucouliagos, Hristos & Scarborough, Helen, 2016. "The economic value of wetlands in developing countries: A meta-regression analysis," Ecological Economics, Elsevier, vol. 124(C), pages 164-174.
    2. Pettinotti, Laetitia & de Ayala, Amaia & Ojea, Elena, 2018. "Benefits From Water Related Ecosystem Services in Africa and Climate Change," Ecological Economics, Elsevier, vol. 149(C), pages 294-305.
    3. Andrés Cisneros-Montemayor & U. Sumaila, 2010. "A global estimate of benefits from ecosystem-based marine recreation: potential impacts and implications for management," Journal of Bioeconomics, Springer, vol. 12(3), pages 245-268, October.
    4. Hynes, Stephen & Ghermandi, Andrea & Norton, Daniel & Williams, Heidi, 2018. "Marine recreational ecosystem service value estimation: A meta-analysis with cultural considerations," Ecosystem Services, Elsevier, vol. 31(PC), pages 410-419.
    5. Poudel, Rajendra & Collins, Alan & Gazal, Kathryn & Wang, Jingxin, 2020. "Benefit transfer estimation of willingness-to-pay for U.S. wetlands conservation," Forest Policy and Economics, Elsevier, vol. 115(C).
    6. Elena Ojea & Paulo Nunes & Maria Loureiro, 2010. "Mapping Biodiversity Indicators and Assessing Biodiversity Values in Global Forests," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 47(3), pages 329-347, November.
    7. 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.
    8. Luke Brander & Ingo Bräuer & Holger Gerdes & Andrea Ghermandi & Onno Kuik & Anil Markandya & Ståle Navrud & Paulo Nunes & Marije Schaafsma & Hans Vos & Alfred Wagtendonk, 2012. "Using Meta-Analysis and GIS for Value Transfer and Scaling Up: Valuing Climate Change Induced Losses of European Wetlands," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 52(3), pages 395-413, July.
    9. Ojea, Elena & Loureiro, Maria L. & Alló, Maria & Barrio, Melina, 2016. "Ecosystem Services and REDD: Estimating the Benefits of Non-Carbon Services in Worldwide Forests," World Development, Elsevier, vol. 78(C), pages 246-261.
    10. Barrio, Melina & Loureiro, Maria L., 2010. "A meta-analysis of contingent valuation forest studies," Ecological Economics, Elsevier, vol. 69(5), pages 1023-1030, March.
    11. Hynes, S. & Ghermandi, A. & Norton, D. & Williams, H., 2017. "Marine Recreational Ecosystem Service Value Meta-Analysis," Working Papers 266404, National University of Ireland, Galway, Socio-Economic Marine Research Unit.
    12. de Ayala, Amaia & Mariel, Petr & Meyerhoff, Jürgen, 2014. "Transferring landscape values using discrete choice experiments: Is meta-analysis an option?," Economia Agraria y Recursos Naturales, Spanish Association of Agricultural Economists, vol. 14(01), pages 1-16, June.
    13. Matthew Richardson & Pengfei Liu & Michael Eggleton, 2022. "Valuation of Wetland Restoration: Evidence from the Housing Market in Arkansas," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 81(3), pages 649-683, March.

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    Keywords

    Resource /Energy Economics and Policy;

    JEL classification:

    • C81 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Microeconomic Data; Data Access
    • Q24 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Land

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