An Integrated Assessment of Water Markets: Australia, Chile, China, South Africa and the USA
The paper provides an integrated framework to assess water markets in terms of their institutional underpinnings and the three ‘pillars’ of integrated water resource management: economic efficiency, equity and environmental sustainability. This framework can be used: (1) to benchmark different water markets; (2) to track performance over time; and (3) to identify ways in which water markets might be adjusted by informed policy makers to achieve desired goals. The framework is used to identify strengths and limitations of water markets in: (1) Australia’s Murray-Darling Basin; (2) Chile (in particular the Limarí Valley); (3) China (in particular, the North); (4) South Africa; and (5) the western United States. It identifies what water markets are currently able to contribute to integrated water resource management, what criteria underpin these markets, and which components of their performance may require further development.
|Date of creation:||Sep 2010|
|Date of revision:|
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- R. Quentin Grafton & Clay Landry & Gary D. Libecap & Robert J. O'Brien, 2010.
"Water Markets: Australia's Murray-Darling Basin and the US Southwest,"
NBER Working Papers
15797, National Bureau of Economic Research, Inc.
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- Ellen Hanak, 2003. "Who Should Be Allowed to Sell Water in California? Third-Party Issues and the Water Market," PPIC Research Reports, Public Policy Institute of California, number wtrmkt.
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- Khan, Haider & Liu, Yibei, 2008. "Ecological Economics of Water in China: Towards A Strategy for Sustainable Development," MPRA Paper 7705, University Library of Munich, Germany, revised 2008.
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