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Economic Valuation of Forest Ecosystem Services: Methodology and Monetary Estimates

Author

Listed:
  • Aline Chiabai

    (Fondazione Eni Enrico Mattei)

  • C. M. Travisi

    (Fondazione Eni Enrico Mattei)

  • H. Ding

    (FEEM, and School for Advanced Studies in Venice Foundation, University of Venice)

  • A. Markandya

    (Basque Centre for Climate Change BC3 and University of Bath)

  • P.A.L.D Nunes

    (FEEM and School for Advanced Studies in Venice Foundation, University of Venice)

Abstract

By using ad hoc value transfer protocols, this paper offers a methodological contribution and provides accurate per hectare estimates of the economic value of some selected ecosystem services for all forest biomes in the world, identified following the Millennium Ecosystem Assessment taxonomy MEA. The research also estimates potential total economic losses from policy inaction in year 2050. Final results show that total losses are significant. The total figure is €78 billion, the greatest losses coming from North America and Mexico, followed by Africa, Russia and some Asiatic countries. Most of this loss is attributable to provisioning services and carbon sequestration, while only a minor part is due to loss of cultural services. In terms of biomes the greatest losses are from boreal and warm mixed forests, followed by tropical forests. These results may be surprising to some who argue that it is the loss of tropical forests, particularly the Amazon, that is the most significant. A detailed analysis, shows, however, that this is not the case. The best estimates point to greater losses in areas where use and non-use values are highest, which includes North America.

Suggested Citation

  • Aline Chiabai & C. M. Travisi & H. Ding & A. Markandya & P.A.L.D Nunes, 2009. "Economic Valuation of Forest Ecosystem Services: Methodology and Monetary Estimates," Working Papers 2009.12, Fondazione Eni Enrico Mattei.
  • Handle: RePEc:fem:femwpa:2009.12
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    Citations

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    Cited by:

    1. Vladimir Otrachshenkoy, 2014. "The Passive Use Value of the Mediterranean Forest," Working Papers 2014.86, Fondazione Eni Enrico Mattei.
    2. Stefano Balbi & Carlo Giupponi & Roland Olschewski & Vahid Mojtahed, 2013. "The economics of hydro-meteorological disasters: approaching the estimation of the total costs," Working Papers 2013-12, BC3.
    3. Howard, Peter H., 2012. "Climate Change, Vegetation, and Welfare: Estimating the Welfare Loss to Landowners of Marginal Shifts in Blue Oak Habitat," 2012 Annual Meeting, August 12-14, 2012, Seattle, Washington 124744, Agricultural and Applied Economics Association.
    4. K. S. Kavi Kumar & Lavanya Ravikanth Anneboina & Ramchandra Bhatta, 2016. "Valuation of Coastal and Marine Ecosystem Services in India: Macro Assessment," Working Papers id:11440, eSocialSciences.
    5. Balbi Stefano & Giupponi Carlo & Mojtahed Vahid & Olschewski Roland, 2015. "The Total Cost of Water-Related Disasters," Review of Economics, De Gruyter, vol. 66(2), pages 225-252, August.

    More about this item

    Keywords

    Forest; Ecosystem Services; Biodiversity; Valuation; Value Transfer;

    JEL classification:

    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
    • Q23 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Forestry
    • Q26 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Recreational Aspects of Natural Resources
    • Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • Q57 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Ecological Economics

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