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The Economic Impact of Ocean Acidification on Coral Reefs

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Author Info
Brander, Luke M. ((Vrije Universiteit) Amsterdam)
Rehdanz, Katrin ((Kiel Institute for the World Economy) Germany)
Tol, Richard S. J. (ESRI)
van Beukering, Pieter J.H. ((Vrije Universiteit) Amsterdam)

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Abstract

Because ocean acidification has only recently been recognised as a problem caused by climate change, impact studies are still rare and estimates of the economic impact are absent. This paper estimates the economic impact of ocean acidification on coral reefs which are generally considered to be economically as well as ecologically important ecosystems. First, we conduct an impact assessment in which atmospheric concentration of CO2 is linked to ocean acidity causing coral reef area loss. Next, a meta-analysis is applied to determine the economic value of coral reefs around the world. Finally, these two analyses are combined to estimate the economic impact of ocean acidification on coral reefs for the four IPCC marker scenarios. We find that the annual economic impact rapidly escalates over time, because the scenarios have rapid economic growth in the relevant countries and coral reefs are a luxury good. Nonetheless, the annual value in 2100 in still only a fraction of total income, one order of magnitude smaller than the previously estimated impact of climate change. Although the estimated impact is uncertain, the estimated confidence interval spans one order of magnitude only. Future research should seek to extend the estimates presented here to other impacts of ocean acidification and investigate the implications of our findings for climate policy.

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Publisher Info
Paper provided by Economic and Social Research Institute (ESRI) in its series Papers with number WP282.

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Length: 33 pages
Date of creation: Feb 2009
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Handle: RePEc:esr:wpaper:wp282

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Related research
Keywords: Ocean acidification; coral reefs; economic value;

Find related papers by JEL classification:
Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects
Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters
Q57 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Ecological Economics

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Richard S.J. Tol, 2008. "Why Worry About Climate Change? A Research Agenda," Environmental Values, White Horse Press, vol. 17(4), pages 437-470, November. [Downloadable!] (restricted)
    Other versions:
  2. Nordhaus, William D, 1991. "To Slow or Not to Slow: The Economics of the Greenhouse Effect," Economic Journal, Royal Economic Society, vol. 101(407), pages 920-37, July. [Downloadable!] (restricted)
  3. Brander, Luke M. & Van Beukering, Pieter & Cesar, Herman S.J., 2007. "The recreational value of coral reefs: A meta-analysis," Ecological Economics, Elsevier, vol. 63(1), pages 209-218, June. [Downloadable!] (restricted)
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This page was last updated on 2009-11-25.


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