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Market-based instruments for water allocation in India: issues and the way forward

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  • Venkatachalam, L.

Abstract

Institutions do matter in managing water scarcity. Institutional reforms in water sector in recent years have tried to replace the existing ‘command-and-control approach’ with more innovative and comprehensive marketbased approach. Based on a comprehensive literature review, this paper highlights various issues involved in marketbased institutional reforms in the water sector in various countries. This paper finds that even though there are some problems, the market-based institutional reforms are capable of generating relatively higher benefits through efficient, equitable and sustainable water allocation mechanisms. This paper also provides policy suggestions on introducing market-based instruments formally in the water sector in the Indian context.Length: pp.498-512

Suggested Citation

  • Venkatachalam, L., 2008. "Market-based instruments for water allocation in India: issues and the way forward," Conference Papers h042916, International Water Management Institute.
    • Handle: RePEc:iwt:conppr:h042916
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    References listed on IDEAS

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    1. Ronald H. Coase, 2008. "The Institutional Structure of Production," Springer Books, in: Claude Ménard & Mary M. Shirley (ed.), Handbook of New Institutional Economics, chapter 2, pages 31-39, Springer.
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    3. R. H. Coase, 2013. "The Problem of Social Cost," Journal of Law and Economics, University of Chicago Press, vol. 56(4), pages 837-877.
    4. Rosegrant, Mark W., 1995. "Dealing with water scarcity in the next century," 2020 vision briefs 21, International Food Policy Research Institute (IFPRI).
    5. Oliver E. Williamson, 2000. "The New Institutional Economics: Taking Stock, Looking Ahead," Journal of Economic Literature, American Economic Association, vol. 38(3), pages 595-613, September.
    6. Mark W Rosegrant & Renato Gazmuri, 1995. "Reforming Water Allocation Policy Through Markets in Tradable Water Rights: Lessons from Chile, Mexico and California," Latin American Journal of Economics-formerly Cuadernos de Economía, Instituto de Economía. Pontificia Universidad Católica de Chile., vol. 32(97), pages 291-316.
    7. Thobani, Mateen, 1997. "Formal Water Markets: Why, When, and How to Introduce Tradable Water Rights," The World Bank Research Observer, World Bank, vol. 12(2), pages 161-179, August.
    8. R. Maria Saleth & Ariel Dinar, 2004. "The Institutional Economics of Water," Books, Edward Elgar Publishing, number 3443.
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    Cited by:

    1. Palanisami, Kuppannan, 2009. "Water markets as a demand management option: potentials, problems and prospects," Book Chapters,, International Water Management Institute.
    2. Narain, V., 2009. "Water rights system as a demand management option: potentials, constraints and prospects," IWMI Books, Reports H042163, International Water Management Institute.
    3. Kuppannan, Palanisami, 2009. "Water markets as a demand management option: potentials, problems and prospects," IWMI Books, Reports H042160, International Water Management Institute.

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