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Sustainability, Externalities and Economics: The Case of Temperate Perennial Grazing Systems in NSW

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  • Jones, Randall E.
  • Dowling, Peter

Abstract

The replacement of perennial grass species by undesirable annual grass weeds not only results in lower productivity but is also contributes to a range of external costs. In particular, shallow rooted annuals result in greater deep drainage and therefore a greater potential for salinity, and greater volumes of runoff of poor quality water to streams. In this paper an economic framework for examining the sustainability issues of a perennial grazing system on the NSW Central Tablelands is presented. This involves a combination of simulation and dynamic programming models, with the state of the system represented by variables for the perennial grass composition and soil fertility. The paper examines a range of management strategies that increase the perennial grass composition in terms of net income from grazing, and the impact upon the externalities.

Suggested Citation

  • Jones, Randall E. & Dowling, Peter, 2004. "Sustainability, Externalities and Economics: The Case of Temperate Perennial Grazing Systems in NSW," Research Reports 42504, New South Wales Department of Primary Industries Research Economists.
    • Handle: RePEc:ags:nswprr:42504
    DOI: 10.22004/ag.econ.42504
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    References listed on IDEAS

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    1. Freer, M. & Moore, A. D. & Donnelly, J. R., 1997. "GRAZPLAN: Decision support systems for Australian grazing enterprises--II. The animal biology model for feed intake, production and reproduction and the GrazFeed DSS," Agricultural Systems, Elsevier, vol. 54(1), pages 77-126, May.
    2. Heal, G., 1998. "Valuing the Future: Economic Theory and Sustainability," Papers 98-10, Columbia - Graduate School of Business.
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    Cited by:

    1. Mounter, Stuart W. & Griffith, Garry R. & Piggott, Roley R. & Fleming, Euan M. & Zhao, Xueyan, 2007. "Composition of the National Sheep Flock and Specification of Equilibrium Prices and Quantities for the Australian Sheep and Wool Industries, 2002-03 to 2004-05," Research Reports 37664, New South Wales Department of Primary Industries Research Economists.
    2. Magdalena Ziolo & Beata Zofia Filipiak & Iwona Bąk & Katarzyna Cheba & Diana Mihaela Tîrca & Isabel Novo-Corti, 2019. "Finance, Sustainability and Negative Externalities. An Overview of the European Context," Sustainability, MDPI, vol. 11(15), pages 1-35, August.

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