Economics of Water Reform in the Murray-Darling Basin
R. Quentin Grafton
Centre for Water Economics, Environment and Policy Papers from Centre for Water Economics, Environment and Policy, Crawford School of Public Policy, The Australian National University
The paper reviews current water reforms and initiatives in the Murray-Darling Bain from an economic perspective. It argues that while the principles (National Water Initiative) and rules (Water Act 2007) of water reform provide the framework to achieve the goals of reform, the financial incentives (2008 Water for the Future) need to change. In particular, the $3.1 billion allocated to buying water entitlements and the $5.8 billion targeted for water infrastructure subsidies under Water for the Future should be combined and spent on the basis of ‘value for money’. If this were accomplished, and the funds were spent prior to the implementation of sustainable diversion limits in July 2011, the Australian Government would be much more likely to achieve a sustainable future for the environment and agriculture within the Basin, at no extra cost.
Keywords: Murray-Darling; Basin (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:een:cweanu:1004
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