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The Illiquidity of Water Markets: The Global Water Forum

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  • Donna, Javier D.
  • Espin Sanchez, Jose

Abstract

Water scarcity is accelerating. In regions such as Latin America, India, and the United States, this phenomenon is especially acute. Water markets are emerging as a preferred institution2 in dry regions of the United States and Australia. However, these analyses have largely ignored institutional frictions, primarily liquidity constraints, which calls into question whether markets are the most efficient allocation mechanism for water. The nexus question is the optimal mix of markets and regulations for allocating water in a world with increasingly scarce supply.

Suggested Citation

  • Donna, Javier D. & Espin Sanchez, Jose, 2014. "The Illiquidity of Water Markets: The Global Water Forum," MPRA Paper 117167, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:117167
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    References listed on IDEAS

    as
    1. T. P. Barnett & J. C. Adam & D. P. Lettenmaier, 2005. "Potential impacts of a warming climate on water availability in snow-dominated regions," Nature, Nature, vol. 438(7066), pages 303-309, November.
    2. R. Quentin Grafton & Gary Libecap & Samuel McGlennon & Clay Landry & Bob O'Brien, 2011. "An Integrated Assessment of Water Markets: A Cross-Country Comparison," Review of Environmental Economics and Policy, Association of Environmental and Resource Economists, vol. 5(2), pages 219-239, Summer.
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    More about this item

    Keywords

    Market Efficiency; Dynamic Demand; Auctions; Quotas; Vertical Integration; Financial Markets.;
    All these keywords.

    JEL classification:

    • L10 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - General

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