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Exploring water scarcity issues in light of the growing crisis in global water management, this book examines the applicability of water markets. It provides an overview and understanding of the presence of water markets across the globe, analysing the ways in which different countries and regions are grappling with water scarcity.
Water Markets for the 21st Century by K. William Easter,Qiuqiong Huang Pdf
This book evaluates the history, the present and the future of water markets on 5 continents, beginning with the institutional underpinnings of water markets and factors influencing transaction costs. The book examines markets in seven countries and three different U.S. states, ranging from village-level water markets in Oman to basin wide formal water markets in Australia's Murray-Darling River basin. Introductory chapters on the background of water markets and on transaction costs and policy design are followed by chapter length discussion of water markets as an adaptive response to climate change and of supply reliability in a changing climate. Case studies describe a variety of facets of the design and function of markets around the world: California, Chile, Spain, Oman, Australia, Canada, India and China. In analyzing these real-world examples of markets, the contributors explore water rights and trading of rights between agricultural and urban sectors and the principles and function of option markets. They discuss different sized approaches, from large scale, ministry-level administration of markets to informal arrangements among farmers in the same village, or groups of villages which allocate water without large investment in management and infrastructure. Discussion includes questions of why water market practices have not expanded more rapidly in arid places. The book discusses mechanisms for resolving conflicts between water rights holders as well as between water right holders and third parties impacted by water trades and whether or not public ownership of water rights or use rights should trump private ownership and under what condition. Also covered are new and expanding categories of water use, beyond human consumption, agriculture and industry to new technologies ranging from extracting natural gas from shale to producing biofuels. The book concludes with suggestions for future water markets and offers a realistic picture of how they might change water use and distribution practices going forward.
Water Trading and Global Water Scarcity by Josefina Maestu Pdf
Water scarcity is an increasing problem in many parts of the world, yet conventional supply-side economics and management are insufficient to deal with it. One of the key water management options for water demand is water trading. This book explores the role of water trading, as an instrument of integrated water resources management.
Smart Markets for Water Resources by John F. Raffensperger,Mark W. Milke Pdf
Why is trade in wholesale water so rare, when markets can actively trade bread, tractors, and electricity? This book shows that water markets fail because of high transaction costs, resulting in inefficient allocations and unpredictable environmental effects. To overcome these obstacles, this book proposes a trading mechanism called a smart market. A smart market is an auction cleared with optimization. A smart market can reduce the transaction costs of water trading, while improving the environmental outcomes. The authors show why a smart market for water is needed, how it would work, and how to implement it. The smart market described here uses a hydrology simulation of the water resource, user bids via the internet, and mathematical optimization, to maximize the economic value of water while meeting all environmental constraints. The book provides the background to understand the smart market for water, and the detail to help the reader start working on its application. The book explores topics such as: Why water should be more expensive near sensitive environmental locations, Ways to set initial allocations of water rights, The role of regulatory oversight, The prerequisites of a water market, and How to counter objections to water markets. The culmination of a decade of investigation, this book combines explanation, examples, and detail to inform policymakers, large water users, environmental organizations, researchers, and a thirsty public.
Markets for Water by K. William Easter,M.W. Rosegrant,Ariel Dinar Pdf
Markets for Water: Potential and Performance dispels many of the myths surrounding water markets and gives readers a comprehensive picture of the way that markets have developed in different parts of the world. It is possible, for example, for a water market to fail, and for the transaction costs in water markets to be excessive. Too often water trading is banned because the water resources have been developed with public funds and the water agencies do not want to lose control over water. There is also a concern that poor farmers or households will be disadvantaged by water trading. These concerns about public resources and the poor are not very different from those that have been voiced in the past about land sales. The problem is that in many cases the poor already have limited access to resources, but this limit is not due to water trading. In fact, water trading is likely to expand the access to water for many small-scale farmers. Markets for Water: Potential and Performance provides an analytical framework for water market establishment. It develops the necessary conditions for water markets and illustrates how they can improve both water management and economic efficiency. Finally, the book gives readers an up-to-date picture of what we have learned about water markets in a wide range of countries, from the US to Chile and India.
Water is becoming increasingly scarce. If recent usage trends continue, shortages are inevitable. Aquanomics discusses some of the instruments and policies that may be implemented to postpone, or even avoid, the onset of water crises. These policies include establishing secure and transferable private water rights and extending these rights to uses that traditionally have not been allowed, including altering in-stream flows and ecosystem functions. The editors argue that such policies will help maximize water quantity and quality as water becomes scarcer and more valuable. Aquanomics contains many examples of how this is being accomplished, particularly in the formation of water markets and market-like exchanges of water rights.Many observers see calamity ahead unless water supplies are harnessed and effectively conserved, and unless water quality can be improved. It is also clear that declining water quality is a serious problem in much of the world, as increasing human activities induce high levels of water degradation. Those who voice these concerns, argue the contributors to this volume, fail to consider the forces for improvement inherent in market political-economic systems that can address water issues. The contributors see water quality in economically advanced countries as improving, and they believe this establishes the validity of market-based approaches.
The Role of Government in Water Markets by Vanessa Casado-Perez Pdf
While water is an increasingly scarce resource, most existing methods to allocate it are neither economically nor environmentally efficient. In these circumstances, water markets offer developed countries a form of regulatory response capable of overcoming many of the shortcomings of current water management. The debate on water markets is, however, a polarized one. This is mostly a result of the misunderstanding of the roles played by governments in water markets. Proponents mistakenly portrayed them as leaving governments, for the most part, out of the picture. Opponents, in turn, understand commodification of water and administration by public agencies as incompatible. Casado Pérez argues that both sides of the debate overlook that water markets require a deeper and more varied governmental intervention than markets for other goods. Drawing on economic theories of regulation based on market failure, she explains the different roles governments should play to ensure a well-functioning water market, and concludes that only the visible hand of governments can ensure the success of water markets. Casado Pérez proves her case by examining case studies of California and Spain to assess the success of their water markets. She explores why water markets were more extensively institutionalized in California than in Spain in the first ten years since their introduction and how the role of governments in each case study impacted water market operation. This unique analysis of governmental roles in water markets, alongside qualitative studies of California and Spain, offers valuable guidance to understand environmental markets and to face the challenges presented by water management in regions with periodical droughts.
The Oxford Handbook of Water Politics and Policy by Ken Conca,Erika Weinthal Pdf
This handbook is currently in development, with individual articles publishing online in advance of print publication. At this time, we cannot add information about unpublished articles in this handbook, however the table of contents will continue to grow as additional articles pass through the review process and are added to the site. Please note that the online publication date for this handbook is the date that the first article in the title was published online. For more information, please read the site FAQs.
Water Policy and Governance in Canada by Steven Renzetti,Diane P. Dupont Pdf
This book provides an insightful and critical assessment of the state of Canadian water governance and policy. It adopts a multidisciplinary variety of perspectives and considers local, basin, provincial and national scales. Canada’s leading authorities from the social sciences, life and natural sciences address pressing water issues in a non-technical language, making them accessible to a wide audience. Even though Canada is seen as a water-rich country, with 7% of the world’s reliable flow of freshwater and many of the world’s largest rivers, the country nevertheless faces a number of significant water-related challenges, stemming in part from supply-demand imbalances but also a range of water quality issues. Against the backdrop of a water policy landscape that has changed significantly in recent years, this book therefore seeks to examine water-related issues that are not only important for the future of Canadian water management but also provide insights into transboundary management, non-market valuation of water, decentralized governance methods, the growing importance of the role of First Nations peoples, and other topics in water management that are vital to many jurisdictions globally. The book also presents forward-looking approaches such as resilience theory and geomatics to shed light on emerging water issues. Researchers, students and those directly involved in the management of Canadian waters will find this book a valuable source of insight. In addition, this book will appeal to policy analysts, people concerned about Canadian water resources specifically as well as global water issues.
As the sustainability of our natural resources is increasingly questioned, Canadians remain stubbornly convinced of the unassailability of our water. Mounting evidence suggests, however, that Canadian water is under threat. Eau Canada assembles the country's top water experts to discuss our most pressing water issues. Perspectives from a broad range of thinkers � geographers, environmental lawyers, former government officials, aquatic and political scientists, and economists � reflect the diversity of concerns in water management. Arguing that weak governance is at the heart of Canada's water problems, this timely book identifies our key failings, explores debates over jurisdiction, transboundary waters, exports, and privatization, and maps out solutions for protecting our most important resource.
This book offers a detailed examination of the main sources of Chile’s water, its principle consumers, the gap between supply and demand, hydrological droughts, and future projected impacts of climate change. It describes, analyzes and evaluates the performance of water policies, laws and institutions, identifies the main challenges that Chile needs to face and derives lessons learnt from Chile’s reform experience. Expert contributors discuss such topics as Chile’s water policy, and the reasoning which explains its policy reform. The book presents and evaluates the performance of the legal and institutional framework of water resources. It also describes efforts to meet actual demands for water by augmenting supplies with groundwater management, waste water re-use and desalination and improve the state of water ecosystems. The last chapter presents the editor’s assessment and conclusions. The case of Chile is illustrative of a transition from command and control to market based management policies, where economic incentives play a significant role in water management.
Tapping Water Markets by Terry Lee Anderson,Brandon Scarborough,Lawrence R. Watson Pdf
Tapping Water Markets is about the past, present, and future of water markets. It compares water markets with political water allocation, documents the growth of water markets, and explores the ways in which water markets can be improved and implemented further. This book provides up-to-date information of where and why water shortages are occurring and where and why water markets are evolving to resolve conflicting water uses. Though the main focus is on the United States, it includes examples from other parts of the world to show how water markets are beginning to thrive. It contains institutional detail that is accessible to people who are not economic or hydrologic experts, and comes alive with numerous examples and case studies of water markets. The book begins with an analysis of water institutions as they have varied over time and location. It then covers a range of discrete water management topics including surface water allocation, groundwater management, environmental flows, and water quality trading. The book concludes with predictions about the future of water scarcity and the ability of water markets to shape that future more positively.
Routledge Handbook of Water Economics and Institutions by Kimberly Burnett,Richard Howitt,James A. Roumasset,Christopher A. Wada Pdf
Growing scarcity of freshwater worldwide brings to light the need for sound water resource modeling and policy analysis. While a solid foundation has been established for many specific water management problems, combining those methods and principles in a unified framework remains an ongoing challenge. This Handbook aims to expand the scope of efficient water use to include allocation of sources and quantities across uses and time, as well as integrating demand-management with supply-side substitutes. Socially efficient water use does not generally coincide with private decisions in the real world, however. Examples of mechanisms designed to incentivize efficient behavior are drawn from agricultural water use, municipal water regulation, and externalities linked to water resources. Water management is further complicated when information is costly and/or imperfect. Standard optimization frameworks are extended to allow for coordination costs, games and cooperation, and risk allocation. When operating efficiently, water markets are often viewed as a desirable means of allocation because a market price incentivizes users to move resources from low to high value activities. However, early attempts at water trading have run into many obstacles. Case studies from the United States, Australia, Europe, and Canada highlight the successes and remaining challenges of establishing efficient water markets.