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The Watershed Economics Management Approach: An Application to Cyprus

Author

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  • Ben Groom
  • Phoebe Koundouri
  • Timothy Swanson

Abstract

This paper develops a 'watershed economics approach' to resource allocation, which ensures that scarce water resources are allocated between competing demands in a way that maximises their contribution to societal welfare. This approach is constructed in a way that considers its impacts on all groups and interests affected, which requires the integration of various approaches and perspectives into a single systematic framework. It is composed of two important stages. In Stage I economic valuation techniques are used to establish the economic value of the competing demands for surface and groundwater, incorporating where necessary an analysis of water quality. This allows the objective balancing of demands based upon the equi-marginal principle to achieve economic efficiency. In Stage II a policy impact analysis addresses issues of social equity, the value of water for environmental/ecological purposes and legal and institutional aspects. The analysis is undertaken within the confines of the watershed and is encapsulated by a case study of the Kouris watershed in Cyprus.

Suggested Citation

  • Ben Groom & Phoebe Koundouri & Timothy Swanson, 2003. "The Watershed Economics Management Approach: An Application to Cyprus," DEOS Working Papers 0311, Athens University of Economics and Business.
    • Handle: RePEc:aue:wpaper:0311
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    File URL: http://wpa.deos.aueb.gr/docs/2003.The.Watershed.Economics.Management.Approach.Cyprus.pdf
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    References listed on IDEAS

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    1. James Winpenny, 1991. "Environmental Values and their Implications for Development," Development Policy Review, Overseas Development Institute, vol. 9(4), pages 381-390, December.
    2. Pattanayak, Subhrendu K. & Kramer, Randall A., 2001. "Worth of watersheds: a producer surplus approach for valuing drought mitigation in Eastern Indonesia," Environment and Development Economics, Cambridge University Press, vol. 6(1), pages 123-146, February.
    3. Koundouri, Phoebe, 2000. "Three approaches to measuring natural resource scarcity: theory and application to groundwater," MPRA Paper 38265, University Library of Munich, Germany.
    4. Young, R.A., 1996. "Measuring Economic Benefits for Water Investments and Policies," Papers 338, World Bank - Technical Papers.
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    Cited by:

    1. Koundouri, Phoebe, 2005. "Design and Implementation of an Integrated Water Management Approach," MPRA Paper 38440, University Library of Munich, Germany.
    2. Phoebe Koundouri, 2004. "Current Issues in the Economics of Groundwater Resource Management," Journal of Economic Surveys, Wiley Blackwell, vol. 18(5), pages 703-740, December.
    3. Phoebe Koundouri, 2003. "Potential for groundwater management: Gisser-Sanchez effect reconsidered," DEOS Working Papers 0307, Athens University of Economics and Business.
    4. Erik Ansink & Carmen Marchiori, 2015. "Reallocating Water: An Application of Sequential Sharing Rules to Cyprus," Water Economics and Policy (WEP), World Scientific Publishing Co. Pte. Ltd., vol. 1(04), pages 1-22, December.

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