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:||Dec 2010|
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References listed on IDEAS
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- Gillitt, C.G. & Nieuwoudt, W. Lieb & Backeberg, G.R., 2005. "Water markets in the Lower Orange River catchment of South Africa," Agrekon, Agricultural Economics Association of South Africa (AEASA), vol. 44(3), September.
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- Brewer, Jedidiah & Libecap, Gary D., 2009. "Property rights and the public trust doctrine in environmental protection and natural resource conservation," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 53(1), March.
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- Kanazawa, Mark T, 1998. "Efficiency in Western Water Law: The Development of the California Doctrine, 1850-1911," The Journal of Legal Studies, University of Chicago Press, vol. 27(1), pages 159-185, January.
- R. Quentin Grafton & Clay Landry & Gary D. Libecap & R.J. (Bob) O'Brien, 2009. "Water Markets: Australia's Murray Darling Basin and the US Southwest," Centre for Water Economics, Environment and Policy Papers 0902, Centre for Water Economics, Environment and Policy, Crawford School of Public Policy, The Australian National University.
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- R. Quentin Grafton & Karen Hussey, 2006. "Buying Back the Living Murray: At What Price?," Economics and Environment Network Working Papers 0606, Australian National University, Economics and Environment Network.
- Anderson, Terry L & Johnson, Ronald N, 1986. "The Problem of Instream Flows," Economic Inquiry, Western Economic Association International, vol. 24(4), pages 535-554, October.
- Nieuwoudt, W. Lieb, 2000. "Water market institutions: lessons from Colorado," Agrekon, Agricultural Economics Association of South Africa (AEASA), vol. 39(1), March. Full references (including those not matched with items on IDEAS)
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