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Applying MBIs for sustainable natural resource and environmental management in South Australia: Challenges and opportunities

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  • Shi, Tian

Abstract

In the past decade, market based instruments (MBIs) have become more frequently applied for natural resource and environmental management purposes. MBIs comprise a range of instruments used to provide economic incentives/disincentives (e.g. by altering market prices, setting a cap or altering quantities of a particular good, improving the way a market works, or creating a market where no market currently exists) to economic agents to change their behaviour in an environmentally desirable manner. It is important to note that MBIs often rely on a regulatory framework and carefully designed policy instruments to operate effectively. MBIs must be tailored to local needs and conditions. Institutional capacity building and community participation are regarded as key components in this process. This paper outlines the challenges and opportunities for developing and implementing effective market-based mechanisms in South Australia. Particular interest are put on the institutional capacity building for MBIs adoption and implementation, and a decision framework for selecting appropriate instruments is also proposed.

Suggested Citation

  • Shi, Tian, 2006. "Applying MBIs for sustainable natural resource and environmental management in South Australia: Challenges and opportunities," 2006 Conference (50th), February 8-10, 2006, Sydney, Australia 139901, Australian Agricultural and Resource Economics Society.
    • Handle: RePEc:ags:aare06:139901
    DOI: 10.22004/ag.econ.139901
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    References listed on IDEAS

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    1. Stavins, Robert, 2003. "Market-Based Environmental Policies: What Can We Learn from U.S. Experience and Related Research?," Working Paper Series rwp03-031, Harvard University, John F. Kennedy School of Government.
    2. Brinkerhoff, Derick W. & Goldsmith, Arthur A., 1992. "Promoting the sustainability of development institutions: A framework for strategy," World Development, Elsevier, vol. 20(3), pages 369-383, March.
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    Cited by:

    1. Shi, Tian, 2009. "Developing an auditing tool to measure community capacity of using market based instruments," 2009 Conference (53rd), February 11-13, 2009, Cairns, Australia 47649, Australian Agricultural and Resource Economics Society.

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