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The Economic Value of Wetlands as Storm Buffers

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  • Boutwell, Luke
  • Westra, John

Abstract

Communities along the US coast are highly vulnerable to coastal storms. Trends in population growth, climatic events and land use are likely to exacerbate future damages. Coastal management entities are faced with decisions about how to manage resources in a manner that improves environmental quality and provides the maximum benefit for coastal populations. This is particularly true along the coast of the Gulf of Mexico, where coastal storms are common, land loss is rapid and billions of dollars are allotted for coastal restoration projects. Many of these projects are intended to mitigate hurricane damages by using wetlands as storm buffers. The physical science literature shows that wetlands do provide situational protection from storm surge. However, little economic analysis has explored the effect of wetlands on economic losses. This analysis uses hurricane simulation data to estimate county- or parish-level damages based on observed damages from coastal storms making landfall in Louisiana from 1995-2008. A model describing these damages as a function of wetland area, socio-economic conditions and storm intensity allows the estimation of the value of wetlands for their protective ecosystem services under various contexts and future scenarios. Potential sources of error are discussed and examples are analyzed. The implications of these finding are significant for coastal restoration decisions in a changing environment.

Suggested Citation

  • Boutwell, Luke & Westra, John, 2015. "The Economic Value of Wetlands as Storm Buffers," 2015 Annual Meeting, January 31-February 3, 2015, Atlanta, Georgia 196854, Southern Agricultural Economics Association.
    • Handle: RePEc:ags:saea15:196854
    DOI: 10.22004/ag.econ.196854
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    References listed on IDEAS

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    1. Robert M. Solow & Janice Murray (ed.), 2014. "Economics for the Curious," Palgrave Macmillan Books, Palgrave Macmillan, number 978-1-137-38359-4.
    2. Farber, Stephen, 1987. "The value of coastal wetlands for protection of property against hurricane wind damage," Journal of Environmental Economics and Management, Elsevier, vol. 14(2), pages 143-151, June.
    3. Boutwell, J. Luke & Westra, John, 2014. "Economic Risk, Tropical Storm Intensity and Coastal Wetlands: A Factor Analysis," 2014 Annual Meeting, February 1-4, 2014, Dallas, Texas 162509, Southern Agricultural Economics Association.
    4. Edward B. Barbier, 2007. "Valuing ecosystem services as productive inputs [‘Valuing groundwater recharge through agricultural production in the Hadejia-Jama’are wetlands in northern Nigeria’]," Economic Policy, CEPR, CESifo, Sciences Po;CES;MSH, vol. 22(49), pages 178-229.
    5. Edward B Barbier & Ioannis Y Georgiou & Brian Enchelmeyer & Denise J Reed, 2013. "The Value of Wetlands in Protecting Southeast Louisiana from Hurricane Storm Surges," PLOS ONE, Public Library of Science, vol. 8(3), pages 1-6, March.
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    Cited by:

    1. Zeynep Altinay & Eric Rittmeyer & Lauren L. Morris & Margaret A. Reams, 2021. "Public risk salience of sea level rise in Louisiana, United States," Journal of Environmental Studies and Sciences, Springer;Association of Environmental Studies and Sciences, vol. 11(4), pages 523-536, December.

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