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

56 Pages Posted: 26 Jul 2010 Last revised: 2 May 2014

See all articles by Quentin Grafton

Quentin Grafton

The Australian National University

Clay Landry

affiliation not provided to SSRN

Gary D. Libecap

University of California, Santa Barbara (UCSB) - Donald Bren School of Environmental Science & Management; University of Arizona - Karl Eller Center; National Bureau of Economic Research (NBER); PERC - Property and Environment Research Center

Sam McGlennon

affiliation not provided to SSRN

R. J. O'Brien

affiliation not provided to SSRN

Multiple version iconThere are 2 versions of this paper

Date Written: July 2010

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.

Suggested Citation

Grafton, Quentin and Landry, Clay and Libecap, Gary D. and McGlennon, Sam and O'Brien, R. J., An Integrated Assessment of Water Markets: Australia, Chile, China, South Africa and the USA (July 2010). NBER Working Paper No. w16203. Available at SSRN: https://ssrn.com/abstract=1648003

Quentin Grafton (Contact Author)

The Australian National University ( email )

Crawford School (Bldg 132)
The ANU
Acton, Canberra, Australian Capital Territory 2601
Australia

HOME PAGE: http://https://crawford.anu.edu.au/people/academic/quentin-grafton

Clay Landry

affiliation not provided to SSRN ( email )

Gary D. Libecap

University of California, Santa Barbara (UCSB) - Donald Bren School of Environmental Science & Management ( email )

4670 Physical Sciences North
Santa Barbara, CA 93106-5131
United States
805-893-8611 (Phone)

HOME PAGE: http://www.esm.ucsb.edu/people/usernew.asp?user=glibecap

University of Arizona - Karl Eller Center ( email )

McClelland Hall
Tucson, AZ 85721-0108
United States
520-621-4821 (Phone)
520-626-5269 (Fax)

HOME PAGE: http://www.bpa.arizona.edu/~libecap

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

PERC - Property and Environment Research Center

2048 Analysis Drive
Suite A
Bozeman, MT 59718
United States

Sam McGlennon

affiliation not provided to SSRN ( email )

No Address Available

R. J. O'Brien

affiliation not provided to SSRN ( email )

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