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Past, Present, and Future of Wetlands Credit Sales

Author

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  • Shabman, Leonard

    () (Resources for the Future)

  • Scodari, Paul

Abstract

In this paper we review the evolution of the wetlands credit sales program developed to support the federal wetlands permit program. Then, we explain how the regulatory rules governing the overall permit program, as well as specific rules governing credit sales, have prevented the development of robust markets in credit buying and selling. Based on this review, we identify an alternative institutional structure that would apply marketlike principles to expand the quantity of and lower the prices of credits while ensuring that wetlands credit sales help move the nation toward its goal: no net loss of wetlands acres and functions.

Suggested Citation

  • Shabman, Leonard & Scodari, Paul, 2004. "Past, Present, and Future of Wetlands Credit Sales," Discussion Papers dp-04-48, Resources For the Future.
  • Handle: RePEc:rff:dpaper:dp-04-48
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    File URL: http://www.rff.org/RFF/Documents/RFF-DP-04-48.pdf
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    References listed on IDEAS

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    1. Leonard Shabman & Kurt Stephenson & William Shobe, 2002. "Trading Programs for Environmental Management: Reflections on the Air and Water Experiences," Working Papers 2002-01, Center for Economic and Policy Studies.
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    Cited by:

    1. Kroeger, Timm & Casey, Frank, 2007. "An assessment of market-based approaches to providing ecosystem services on agricultural lands," Ecological Economics, Elsevier, vol. 64(2), pages 321-332, December.
    2. Ribaudo, Marc & Hansen, LeRoy T. & Hellerstein, Daniel & Greene, Catherine R., 2008. "The Use of Markets To Increase Private Investment in Environmental Stewardship," Economic Research Report 56473, United States Department of Agriculture, Economic Research Service.
    3. Arquitt, Steve & Johnstone, Ron, 2008. "Use of system dynamics modelling in design of an environmental restoration banking institution," Ecological Economics, Elsevier, vol. 65(1), pages 63-75, March.

    More about this item

    Keywords

    wetlands mitigation; wetlands banking; environmental markets; Clean Water Act;

    JEL classification:

    • Q20 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - General

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