Reforming water allocation policy through markets in tradable water rights: lessons from Chile, Mexico, and California
AbstractIncreasing water scarcity, rising costs of irrigation subsidies, and general economic liberalization are creating strong incentives for comprehensive water reform with establishment of tradable water rights and the development of markets in these rights. Experiences in Chile, Mexico, and California indicate that water allocation through markets in tradable water rights offers a viable approach to improving the efficiency of water allocation, and should receive serious consideration from developing country policy makers. Laws establishing tradable rights should be simple and comprehensive, should clearly define the characteristics of water rights and the conditions and regulations governing the trade of water rights; should establish and implement water rights registers; delineate the roles of the government, institutions, and individuals involved in water allocation and the ways of solving conflicts between them; and provide cost-effective protection against negative third party and environmental effects which can arise from water trades.
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Bibliographic InfoPaper provided by International Food Policy Research Institute (IFPRI) in its series EPTD discussion papers with number 6.
Date of creation: 1994
Date of revision:
Water-supply Management.; Irrigation.; Right of property.; Water rights.; Trade regulation.;
Other versions of this item:
- Mark W Rosegrant & Renato Gazmuri, 1995. "Reforming Water Allocation Policy Through Markets in Tradable Water Rights: Lessons from Chile, Mexico and California," Latin American Journal of Economics-formerly Cuadernos de Economía, Instituto de Economía. Pontificia Universidad Católica de Chile., vol. 32(97), pages 291-316.
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