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The Metagovernance of Markets: The Politics of Water Management in Australia

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  • Stephen Bell

    (University of Queensland)

  • John Quiggin

    (Risk & Sustainable Management Group, School of Economics, University of Queensland)

Abstract

Australia is the world's driest continent and the intensity of conflict over water and water management has been increasing , especially in rural areas. By focussing on the recent federalist compact, National Wa ter Initiative (NWI), we explore the use of market and property rights instruments in water governance in Australia . The question we explore is does the use of such market-based governance instruments imply a reduced role for the state, as new instruments displace previous top down or regulatory modes of governance? It is true that progress has been made in establishing a new property rights and market regime for water and that the operation of such markets has improved the technical efficiency of water usage. However, this paper challenges the view that the new market-based system of governance can be self-managing and thus obviate the need for substantial government involvement. In other words, we argue that the market regime requires substantial 'metagovernance'
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Stephen Bell & John Quiggin, "undated". "The Metagovernance of Markets: The Politics of Water Management in Australia," Murray-Darling Program Working Papers WP6M06, Risk and Sustainable Management Group, University of Queensland.
  • Handle: RePEc:rsm:murray:m06_6
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    File URL: http://www.uq.edu.au/rsmg/WP/WPM06_6.pdf
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    References listed on IDEAS

    as
    1. Mike Young & Darla Hatton MacDonald, 2000. "Interstate Water Trading: a 2-year Review," Natural Resource Management Economics 00_001, Policy and Economic Research Unit, CSIRO Land and Water, Adelaide, Australia.
    2. Quiggin, John C., 2001. "Environmental economics and the Murray-Darling river system," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 45(1), pages 1-28.
    3. Randall, Alan, 1981. "Property Entitlements And Pricing Policies For A Maturing Water Economy," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 25(3), pages 1-26, December.
    4. Easter, K William & Rosegrant, Mark W & Dinar, Ariel, 1999. "Formal and Informal Markets for Water: Institutions, Performance, and Constraints," World Bank Research Observer, World Bank Group, vol. 14(1), pages 99-116, February.
    5. Alan Randall, 1981. "Property Entitlements And Pricing Policies For A Maturing Water Economy," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 25(3), pages 195-220, December.
    6. Robert Brooks & Edwyna Harris, 2005. "An Analysis of Watermove Water Markets," Monash Econometrics and Business Statistics Working Papers 10/05, Monash University, Department of Econometrics and Business Statistics.
    7. J. Hirshleifer, 1975. "Speculation and Equilibrium: Information, Risk, and Markets," The Quarterly Journal of Economics, Oxford University Press, vol. 89(4), pages 519-542.
    8. William M. Dugger, 1996. "The Mechanisms of Governance," Journal of Economic Issues, Taylor & Francis Journals, vol. 30(4), pages 1212-1216, December.
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    Cited by:

    1. Sarah Challe & Stamatios Christopoulos & Michael Kull & Louis Meuleman, 2018. "Steering the Poverty†Environment Nexus in Central Asia: A metagovernance analysis of the Poverty†Environment Initiative (PEI)," Development Policy Review, Overseas Development Institute, vol. 36(4), pages 409-431, July.

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