Are Water Markets Liquid? Evidence from Southeastern Spain

Javier Donna and Jose Espin-Sanchez

MPRA Paper from University Library of Munich, Germany

Abstract: Water scarcity is ubiquitous, affecting all continents and nations. Water allocation has become a central concern of policy discussions around the world. The World Economic Forum (2015) listed water scarcity as one of the “greatest global [risks] to economies, environments, and people.” In regions such as Latin America, India, and the United States, this phenomenon is especially acute (Barnett et al., 2005). Water markets have emerged as the preferred institution to allocate irrigation water used by farmers in the developed world, particularly in dry regions of the US and Australia (Grafton et al., 2011).

Keywords: Market Efficiency; Dynamic Demand; Auctions; Quotas; Vertical Integration; Financial Markets (search for similar items in EconPapers)
JEL-codes: A10 (search for similar items in EconPapers)
Date: 2018-12
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