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Non Market Valuation in New Zealand:1974 through 2005

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Abstract

Non-market valuation (NMV) is recognized as an essential tool in policy decision making worldwide. In this paper, we investigate the history of NMV, specifically in relation to New Zealand (NZ), by compiling and analyzing all available published studies. Results show a significant increase in the number of studies, specifically those requested by government agencies, following the passage of the NZ Resource Management Act of 1991. Studies were found to be concentrated in three major areas: outdoor recreation, environmental conservation/management, and travel time savings. These three areas covered eight environmental commodities, the value of which totaled NZ$72 billion, or 50% of NZ GDP, with the highest valued commodity being biodiversity services. While our analysis yielded many positive results, we did discover, however, a severe lack of studies in many areas including pest control, water resources and outdoor recreation.

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File URL: ftp://mngt.waikato.ac.nz/RePEc/wai/econwp/0717.pdf
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Bibliographic Info

Paper provided by University of Waikato, Department of Economics in its series Working Papers in Economics with number 07/17.

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Length: 27 pages
Date of creation: 19 Sep 2007
Date of revision:
Handle: RePEc:wai:econwp:07/17

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Keywords: non-market valuation; New Zealand; consumer surplus; Resource Management Act;

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Cited by:
  1. Pamela Kaval & Matthew Roskruge, 2009. "The Value of Native Bird Conservation: A New Zealand Case Study," Working Papers in Economics 09/11, University of Waikato, Department of Economics.

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