Water Markets and Scarcity: Australia’s Murray Darling Basin and the US Southwest

R. Quentin Grafton, Clay Landry, Gary Libecap and R.J. (Bob) O’Brien
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Clay Landry: West Water Research
R.J. (Bob) O’Brien: Percat Water

Environmental Economics Research Hub Research Reports from Environmental Economics Research Hub, Crawford School of Public Policy, The Australian National University

Abstract: Water markets in Australia’s Murray-Darling Basin and the western US are compared in terms of their ability to mitigate water scarcity. The two regions share: (1) climate variability that requires large investment in water storages; (2) the need for internal and cross-border (state) water management; (3) an historical over allocation of water to irrigators; and (4) increasing competition among different uses (agricultural, environmental and recreational in situ uses, urban demand). The evaluation of the two markets suggests that on-going water market reform along with processes to account for the public interest can promote equity, environmental sustainability and economic efficiency.

Date: 2009-12
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Citations: View citations in EconPapers (5)

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Working Paper: Water Markets and Scarcity: Australia’s Murray Darling Basin and the US Southwest (2009)
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Persistent link: https://EconPapers.repec.org/RePEc:een:eenhrr:0947

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