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Conservation of biodiversity and economic development: The concept of transferable development rights

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  • Theodore Panayotou

Abstract

For ecological and economic reasons it is more cost effective to conserve habitats rather than species, and hence biodiversity conservation becomes a land use issue. Since in developing countries, land is the most important productive asset, the opportunity costs of conservation are forgone development, while the benefits from conservation are distant and largely external to the host country. The concept of transferable development rights (TDRs), which has been extensively applied to conservation of historical buildings in urban areas, is extended and adapted here to the conservation of biodiversity, both within a country and globally. Creation of a market for TDRs makes effective the latent demand for and supply of biodiversity conservation and generates benefits for both the supplier (developing countries) and the demander (developed countries). The paper explores the conditions and public interventions necessary for the creation of an active market for TDRs. It also proposes a number of mechanisms such as credits and offsets for purchase of TDRs against domestic regulations and conservation taxes in the developed countries. Copyright Kluwer Academic Publishers 1994

Suggested Citation

  • Theodore Panayotou, 1994. "Conservation of biodiversity and economic development: The concept of transferable development rights," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 4(1), pages 91-110, February.
  • Handle: RePEc:kap:enreec:v:4:y:1994:i:1:p:91-110
    DOI: 10.1007/BF00691934
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    3. Eichner, Thomas & Pethig, Rüdiger, 2016. "Coaseian biodiversity conservation. Who benefits?," Annual Conference 2016 (Augsburg): Demographic Change 145745, Verein für Socialpolitik / German Economic Association.
    4. Deke, Oliver, 2004. "Internalizing Global Externalities from Biodiversity: Protected Areas and Multilateral Mechanisms of Transfer," Kiel Working Papers 1226, Kiel Institute for the World Economy (IfW).
    5. Cubbage, Frederick & Harou, Patrice & Sills, Erin, 2007. "Policy instruments to enhance multi-functional forest management," Forest Policy and Economics, Elsevier, vol. 9(7), pages 833-851, April.
    6. Jie He, 2007. "Is the Environmental Kuznets Curve hypothesis valid for developing countries? A survey," Cahiers de recherche 07-03, Departement d'Economique de l'École de gestion à l'Université de Sherbrooke.
    7. Gunatilake, H.M & Wickramasinghe, W.A.R & Abeygunawardena, P., 2008. "Time Preference and Natural Resource Use by Local Communities: The Case of Sinharaja Forest in Sri Lanka," Sri Lankan Journal of Agricultural Economics, Sri Lanka Agricultural Economics Association (SAEA), vol. 10.
    8. Marian Weber & Wiktor Adamowicz, 2002. "Tradable Land-Use Rights for Cumulative Environmental Effects Management," Canadian Public Policy, University of Toronto Press, vol. 28(4), pages 581-595, December.
    9. Cong, Rong-Gang & Smith, Henrik G. & Olsson, Ola & Brady, Mark, 2014. "Managing ecosystem services for agriculture: Will landscape-scale management pay?," Ecological Economics, Elsevier, vol. 99(C), pages 53-62.
    10. Joël Houdet & Michel Trommetter & Jacques Weber, 2009. "Changing business perceptions regarding biodiversity: from impact mitigation towards new strategies and practices," Working Papers hal-00412875, HAL.
    11. Antunes, Paula & Santos, Rui, 1999. "Integrated environmental management of the oceans," Ecological Economics, Elsevier, vol. 31(2), pages 215-226, November.
    12. Rivera Virgüez Liliana, 2007. "Comercio de fauna en Colombia e información oculta: nuevos retos en la regulación para su uso sostenible," REVISTA DESARROLLO Y SOCIEDAD, UNIVERSIDAD DE LOS ANDES-CEDE, September.
    13. Santos, Rui & Antunes, Paula & Baptista, Gualter & Mateus, Pedro & Madruga, Luisa, 2006. "Stakeholder participation in the design of environmental policy mixes," Ecological Economics, Elsevier, vol. 60(1), pages 100-110, November.
    14. Markandya, Anil, 1997. "Economic instruments: accelerating the move from concepts to practical application," Sede de la CEPAL en Santiago (Estudios e Investigaciones) 34312, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    15. Polasky, Stephen & Costello, Christopher & Solow, Andrew, 2005. "The Economics of Biodiversity," Handbook of Environmental Economics,in: K. G. Mäler & J. R. Vincent (ed.), Handbook of Environmental Economics, edition 1, volume 3, chapter 29, pages 1517-1560 Elsevier.

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