Economic Valuation of Regulating Ecosystem Services of Thai Thuy Wetland in the Red River Delta of Vietnam

Nguyen Mau Dung and Nguyen Phuong Le
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Nguyen Mau Dung: Vietnam National University of Agriculture, Hanoi, Vietnam
Nguyen Phuong Le: Vietnam National University of Agriculture, Hanoi, Vietnam

Review of Applied Socio-Economic Research, 2022, vol. 23, issue 1, 97-108

Abstract: The ecosystem in Thai Thuy wetland plays a significant role in providing goods and regulating services such as disaster risk reduction, carbon storage and water purification. This study aims to estimate the value of the major regulating ecosystem services of Thai Thuy wetland. The key regulating ecosystem services of Thai Thuy wetland that were identified for estimating their economic value include the disaster risk reduction (sea dyke protection, aquaculture pond protection and provision of typhoon shelter for fishing boats), carbon storage and water purification. The main methods used for valuing these services are the benefit transfer and replacement cost methods. The total economic value of regulating services in Thai Thuy wetland is estimated at US$6.1 mil. per year. This could help to raise the awareness of the wetland importance for local people and policymakers so that more consideration should be given to better wetland conservation and management

Keywords: Economic Valuation; Regulating Service; Wetland; Vietnam (search for similar items in EconPapers)
JEL-codes: Q51 Q56 Q57 (search for similar items in EconPapers)
Date: 2022
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