An Integrated Assessment of Water Markets: Australia, Chile, China, South Africa and the USA

R. Quentin Grafton, Clay Landry, Gary Libecap, Sam McGlennon and Robert O'Brien

No 16203, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: The paper provides an integrated framework to assess water markets in terms of their institutional underpinnings and the three 'pillars' of integrated water resource management: economic efficiency, equity and environmental sustainability. This framework can be used: (1) to benchmark different water markets; (2) to track performance over time; and (3) to identify ways in which water markets might be adjusted by informed policy makers to achieve desired goals. The framework is used to identify strengths and limitations of water markets in: (1) Australia's Murray-Darling Basin; (2) Chile (in particular the Limarí Valley); (3) China (in particular, the North); (4) South Africa; and (5) the western United States. It identifies what water markets are currently able to contribute to integrated water resource management, what criteria underpin these markets, and which components of their performance may require further development.

JEL-codes: K11 N15 N16 N5 N92 Q2 Q25 (search for similar items in EconPapers)
Date: 2010-07
Note: DAE EEE
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Citations: View citations in EconPapers (9)

Published as “An Integrated Assessment of Water Markets: A Cross-Country Comparison” R. Quentin Grafton, Gary D. Libecap, Samuel McGlennon, Clay Landry, and R.J. O’Brien, Review of Environmental Economics and Policy, volume 5, issue 2, summer 2011, 219–239

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Related works:
Working Paper: An Integrated Assessment of Water Markets: Australia, Chile, China, South Africa and the USA (2010)
Working Paper: An Integrated Assessment of Water Markets: Australia, Chile, China, South Africa and the USA (2010)
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