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On the economics of virtual water trade

Author

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  • Reimer, Jeffrey J.

Abstract

Virtual water trade is increasingly recognized as a useful metaphor for thinking about freshwater resources in an international context. Its legitimacy in terms of economic theory has been questioned by a number of authors, however. In this article I develop new theoretical results that place the virtual water concept on a firm economic foundation, and which correct several misconceptions within the existing literature on virtual water economics.

Suggested Citation

  • Reimer, Jeffrey J., 2012. "On the economics of virtual water trade," Ecological Economics, Elsevier, vol. 75(C), pages 135-139.
  • Handle: RePEc:eee:ecolec:v:75:y:2012:i:c:p:135-139
    DOI: 10.1016/j.ecolecon.2012.01.011
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    References listed on IDEAS

    as
    1. Jeffrey J. Reimer & Man Li, 2010. "Trade Costs and the Gains from Trade in Crop Agriculture," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 92(4), pages 1024-1039.
    2. Chichilnisky, Graciela, 1994. "North-South Trade and the Global Environment," American Economic Review, American Economic Association, vol. 84(4), pages 851-874, September.
    3. Wichelns, Dennis, 2004. "The policy relevance of virtual water can be enhanced by considering comparative advantages," Agricultural Water Management, Elsevier, vol. 66(1), pages 49-63, April.
    4. Choi, E. Kwan & Harrigan, James, 2003. "Handbook of International Trade," Staff General Research Papers Archive 11375, Iowa State University, Department of Economics.
    5. Ansink, Erik, 2010. "Refuting two claims about virtual water trade," Ecological Economics, Elsevier, vol. 69(10), pages 2027-2032, August.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Richard R. Rushforth & Benjamin L. Ruddell, 2015. "The Hydro-Economic Interdependency of Cities: Virtual Water Connections of the Phoenix, Arizona Metropolitan Area," Sustainability, MDPI, Open Access Journal, vol. 7(7), pages 1-26, June.
    2. Guangyao Deng & Liujuan Wang & Yanan Song, 2015. "Effect of Variation of Water-Use Efficiency on Structure of Virtual Water Trade - Analysis Based on Input–Output Model," Water Resources Management: An International Journal, Published for the European Water Resources Association (EWRA), Springer;European Water Resources Association (EWRA), vol. 29(8), pages 2947-2965, June.
    3. Fracasso, Andrea, 2014. "A gravity model of virtual water trade," Ecological Economics, Elsevier, vol. 108(C), pages 215-228.
    4. Antonelli, Marta & Sartori, Martina, 2014. "Unfolding the potential of the Virtual Water concept. What is still under debate?," MPRA Paper 60501, University Library of Munich, Germany.
    5. repec:spr:endesu:v:19:y:2017:i:3:d:10.1007_s10668-016-9770-2 is not listed on IDEAS
    6. Roberto Roson, 2017. "Beyond Water Stress: Structural Adjustment and Macroeconomic Consequences of the Emerging Water Scarcity," Working Papers 2017:07, Department of Economics, University of Venice "Ca' Foscari".
    7. M. Antonelli & R. Roson & M. Sartori, 2012. "Systemic Input-Output Computation of Green and Blue Virtual Water ‘Flows’ with an Illustration for the Mediterranean Region," Water Resources Management: An International Journal, Published for the European Water Resources Association (EWRA), Springer;European Water Resources Association (EWRA), vol. 26(14), pages 4133-4146, November.
    8. Roberto Roson & Martina Sartori, 2013. "Trade-offs in water policy: System-wide implications of changing water availability and agricultural productivity in the Mediterranean economies by 2050," Working Papers 2013:21, Department of Economics, University of Venice "Ca' Foscari".

    More about this item

    Keywords

    International trade; Water;

    JEL classification:

    • F11 - International Economics - - Trade - - - Neoclassical Models of Trade
    • F18 - International Economics - - Trade - - - Trade and Environment
    • Q25 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Water
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth

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