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Creating markets for ecosystem services

Author

Listed:
  • Greg Murtough

    (Productivity Commission)

  • Barbara Aretino

    (Productivity Commission)

  • Anna Matysek

    (Productivity Commission)

Abstract

Ecosystem services are the functions performed by ecosystems that lead to desirable environmental outcomes, such as air and water purification, drought and flood mitigation, and climate stabilisation. Markets rarely exist for them. This study examines how newly defined property rights have been used to create markets in Australia and the United States. The Commission found that creating these markets - such as tradeable credits for carbon sequestration - can be an effective way for governments to achieve their environmental goals.

Suggested Citation

  • Greg Murtough & Barbara Aretino & Anna Matysek, 2002. "Creating markets for ecosystem services," Urban/Regional 0207001, University Library of Munich, Germany.
    • Handle: RePEc:wpa:wuwpur:0207001
    Note: Type of Document - Word 97; prepared on IBM PC; to print on HP; pages: 80; figures: nil
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    File URL: https://econwpa.ub.uni-muenchen.de/econ-wp/urb/papers/0207/0207001.pdf
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    References listed on IDEAS

    as
    1. World Bank, 1992. "World Development Report 1992," World Bank Publications - Books, The World Bank Group, number 5975.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Valle, Haydn & Capon, Timothy & Harris, Michael & Reeson, Andrew, 2012. "Coordination and Strategic Behaviour in Landscape Auctions," 2012 Conference (56th), February 7-10, 2012, Fremantle, Australia 124466, Australian Agricultural and Resource Economics Society.
    2. Alamanos, Angelos & Koundouri, Phoebe, 2022. "Economics of Incorporating Ecosystem Services into Water Resource Planning and Management," MPRA Paper 122046, University Library of Munich, Germany.
    3. Whitten, Stuart M. & Salzman, James & Shelton, Dave & Procter, Wendy, 2003. "Markets for ecosystem services: Applying the concepts," 2003 Conference (47th), February 12-14, 2003, Fremantle, Australia 58269, Australian Agricultural and Resource Economics Society.
    4. Jackie Robinson & Jared Dent & Rob Fearon, 2011. "Designing Suites of Incentives to Encourage Sustainable Land Management in Rural Queensland," Discussion Papers Series 452, School of Economics, University of Queensland, Australia.
    5. Flugge, Felicity & Schilizzi, Steven, 2003. "Greenhouse Gas Abatement Policies and the Value of Carbon Sinks: Do Grazing and Cropping Systems have Different Destinies?," 2003 Conference (47th), February 12-14, 2003, Fremantle, Australia 57865, Australian Agricultural and Resource Economics Society.
    6. Ribaudo, Marc & Greene, Catherine & Hansen, LeRoy & Hellerstein, Daniel, 2010. "Ecosystem services from agriculture: Steps for expanding markets," Ecological Economics, Elsevier, vol. 69(11), pages 2085-2092, September.
    7. Sell, Joachim & Koellner, Thomas & Weber, Olaf & Pedroni, Lucio & Scholz, Roland W., 2006. "Decision criteria of European and Latin American market actors for tropical forestry projects providing environmental services," Ecological Economics, Elsevier, vol. 58(1), pages 17-36, June.
    8. Ribaudo, Marc & Hansen, LeRoy T. & Hellerstein, Daniel & Greene, Catherine R., 2008. "The Use of Markets To Increase Private Investment in Environmental Stewardship," Economic Research Report 56473, United States Department of Agriculture, Economic Research Service.
    9. Greenhalgh, Suzie, 2008. "Bundled Ecosystem Markets – Are They The Future?," 2008 Annual Meeting, July 27-29, 2008, Orlando, Florida 6166, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    10. Coggan, Anthea & Whitten, Stuart M. & Bennett, Jeff, 2010. "Influences of transaction costs in environmental policy," Ecological Economics, Elsevier, vol. 69(9), pages 1777-1784, July.
    11. Phoebe Koundouri & Angelos Alamanos & Kostas Dellis & Artemis Stratopoulou, 2022. "Ecosystem Services into Water Resource Planning and Management," DEOS Working Papers 2230, Athens University of Economics and Business.

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    More about this item

    Keywords

    regulation - ecosystems - environment - biodiversity - salinity - climate;

    JEL classification:

    • R - Urban, Rural, Regional, Real Estate, and Transportation Economics

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