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

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Author Info

  • Andrea Ghermandi

    (School for Advanced Studies in Venice Foundation)

  • J.C.J.M. van den Bergh

    (VU Amsterdam)

  • L.M. Brander

    (Institute for Environmental Studies (IVM))

  • H.L.F. de Groot

    (VU Amsterdam)

  • P.A.L.D. Nunes

    (School for Advanced Studies in Venice Foundation)

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.

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Bibliographic Info

Paper provided by Fondazione Eni Enrico Mattei in its series Working Papers with number 2008.79.

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Date of creation: Sep 2008
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Handle: RePEc:fem:femwpa:2008.79

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Keywords: Constructed Ecosystems; Economic Valuation; Man-Made Wetlands; Meta-Regression; Wetland Values;

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References

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  1. Brouwer, Roy, 2000. "Environmental value transfer: state of the art and future prospects," Ecological Economics, Elsevier, vol. 32(1), pages 137-152, January.
  2. 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, European Association of Environmental and Resource Economists, vol. 33(2), pages 223-250, 02.
  3. 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.
  4. Barbier Edward B & Heal Geoffrey M, 2006. "Valuing Ecosystem Services," The Economists' Voice, De Gruyter, vol. 3(3), pages 1-6, February.
  5. 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.
  6. Milon, J. Walter & Scrogin, David, 2006. "Latent preferences and valuation of wetland ecosystem restoration," Ecological Economics, Elsevier, vol. 56(2), pages 162-175, February.
  7. 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.
  8. 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.
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Cited by:
  1. 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.
  2. Elena Ojea & Paulo Nunes & Maria Loureiro, 2010. "Mapping Biodiversity Indicators and Assessing Biodiversity Values in Global Forests," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 47(3), pages 329-347, November.
  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. 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, European Association of Environmental and Resource Economists, vol. 52(3), pages 395-413, July.
  5. Barrio, Melina & Loureiro, Maria L., 2010. "A meta-analysis of contingent valuation forest studies," Ecological Economics, Elsevier, vol. 69(5), pages 1023-1030, March.

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