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The Economic Value of Mangroves: A Meta-Analysis

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  • Marwa E. Salem

    () (Department of Economics, North Carolina State University, 2801 Founders Drive, Raleigh, NC 27695, USA
    Faculty of Economics and Political Science, Cairo University, Tharwat St., Giza, 12613, Egypt)

  • D. Evan Mercer

    () (Southern Research Station, USDA Forest Service, PO Box 12254, Research Triangle Park, NC 27709, USA)

Abstract

This paper presents a synthesis of the mangrove ecosystem valuation literature through a meta-regression analysis. The main contribution of this study is that it is the first meta-analysis focusing solely on mangrove forests, whereas previous studies have included different types of wetlands. The number of studies included in the regression analysis is 44 for a total of 145 observations. We include several regressions with the objective of addressing outliers in the data as well as the possible correlations between observations of the same study. We also investigate possible interaction effects between type of service and GDP per capita. Our findings indicate that mangroves exhibit decreasing returns to scale, that GDP per capita has a positive effect on mangrove values and that using the replacement cost and contingent valuation methods produce higher estimates than do other methods. We also find that there are statistically significant interaction effects that influence the data. Finally, the results indicate that employing weighted regressions provide a better fit than others. However, in terms of forecast performance we find that all the estimated models performed similarly and were not able to conclude decisively that one outperforms the other.

Suggested Citation

  • Marwa E. Salem & D. Evan Mercer, 2012. "The Economic Value of Mangroves: A Meta-Analysis," Sustainability, MDPI, Open Access Journal, vol. 4(3), pages 1-25, March.
  • Handle: RePEc:gam:jsusta:v:4:y:2012:i:3:p:359-383:d:16556
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    References listed on IDEAS

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    1. Janusz R. Mrozek & Laura O. Taylor, 2002. "What determines the value of life? a meta-analysis," Journal of Policy Analysis and Management, John Wiley & Sons, Ltd., vol. 21(2), pages 253-270.
    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, Springer;European Association of Environmental and Resource Economists, vol. 33(2), pages 223-250, February.
    3. Gammage, Sarah, 1997. "Estimating the Returns to Mangrove Conversion: Sustainable Management or Short Term Gain?," Discussion Papers 24133, International Institute for Environment and Development, Environmental Economics Programme.
    4. Ronnback, Patrik, 1999. "The ecological basis for economic value of seafood production supported by mangrove ecosystems," Ecological Economics, Elsevier, vol. 29(2), pages 235-252, May.
    5. James Sanchirico & Michael Springborn, 2011. "How to Get There From Here: Ecological and Economic Dynamics of Ecosystem Service Provision," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 48(2), pages 243-267, February.
    6. Camille Bann, 1997. "An Economic Analysis of Alternative Mangrove Management Strategies in Koh Kong Province, Cambodia," EEPSEA Research Report rr1997113, Economy and Environment Program for Southeast Asia (EEPSEA), revised Nov 1997.
    7. Richard T. Carson, 2011. "Contingent Valuation," Books, Edward Elgar Publishing, number 2489.
    8. Barbier, Edward B., 2000. "Valuing the environment as input: review of applications to mangrove-fishery linkages," Ecological Economics, Elsevier, vol. 35(1), pages 47-61, October.
    9. Edward B. Barbier, 2007. "Valuing ecosystem services as productive inputs," Economic Policy, CEPR;CES;MSH, vol. 22, pages 177-229, January.
    10. Costanza, Robert & Farber, Stephen C. & Maxwell, Judith, 1989. "Valuation and management of wetland ecosystems," Ecological Economics, Elsevier, vol. 1(4), pages 335-361, December.
    11. Jon Nelson & Peter Kennedy, 2009. "The Use (and Abuse) of Meta-Analysis in Environmental and Natural Resource Economics: An Assessment," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 42(3), pages 345-377, March.
    12. Phaneuf, Daniel J. & Smith, V. Kerry, 2006. "Recreation Demand Models," Handbook of Environmental Economics,in: K. G. Mäler & J. R. Vincent (ed.), Handbook of Environmental Economics, edition 1, volume 2, chapter 15, pages 671-761 Elsevier.
    13. 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.
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    1. repec:gam:jsusta:v:9:y:2017:i:12:p:2169-:d:120278 is not listed on IDEAS
    2. repec:eee:ecoser:v:1:y:2012:i:1:p:62-69 is not listed on IDEAS
    3. repec:gam:jsusta:v:9:y:2017:i:6:p:968-:d:100613 is not listed on IDEAS
    4. repec:gam:jsusta:v:9:y:2017:i:8:p:1348-:d:106640 is not listed on IDEAS
    5. Chaikumbung, Mayula & Doucouliagos, Hristos & Scarborough, Helen, 2016. "The economic value of wetlands in developing countries: A meta-regression analysis," Ecological Economics, Elsevier, vol. 124(C), pages 164-174.
    6. repec:eee:ecoser:v:14:y:2015:i:c:p:67-75 is not listed on IDEAS
    7. repec:eee:ecoser:v:24:y:2017:i:c:p:114-123 is not listed on IDEAS

    More about this item

    Keywords

    mangroves; meta-regression analysis; nonmarket valuation;

    JEL classification:

    • Q - Agricultural and Natural Resource Economics; Environmental and Ecological Economics
    • Q0 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General
    • Q2 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation
    • Q3 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation
    • Q5 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics
    • 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
    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products

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