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The Cost-Effectiveness of Conservation Payments

Paul Ferraro () and R. David Simpson

Land Economics, 2002, vol. 78, issue 3, 339-353

Abstract: International donors invest billions of dollars to conserve ecosystems in low-income nations. The most common investments aim to encourage commercial activities, such as ecotourism, that indirectly generate ecosystem protection as a joint product. We demonstrate that paying for ecosystem protection directly can be far more cost-effective. Although direct-payment initiatives have imposing institutional requirements, we argue that all conservation initiatives face similar challenges. Thus conservation practitioners would be well advised to implement the first-best direct-payment approach, rather than a secondbest policy option. An empirical example illustrates the spectacular cost savings that can be realized by direct-payment initiatives.

JEL-codes: H21 Q28 (search for similar items in EconPapers)
Date: 2002
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Working Paper: The Cost-Effectiveness of Conservation Payments (2000) Downloads
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