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Books > Earth & environment > The environment > Environmental economics
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Water Allocation in Rivers under Pressure - Water Trading, Transaction Costs and Transboundary Governance in the Western US and Australia (Paperback)
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Water Allocation in Rivers under Pressure - Water Trading, Transaction Costs and Transboundary Governance in the Western US and Australia (Paperback)
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This book compares water allocation policy in three rivers under
pressure from demand, droughts and a changing climate: the
Colorado, Columbia and Murray-Darling. Each river has undergone
multiple decades of policy reform at the intersection of water
markets and river basin governance - two prominent responses to the
global water crisis often attempted and analyzed separately.
Drawing on concepts and evidence about property rights and
transaction costs, this book generates lessons about the factors
that enable and constrain more flexible and sustainable approaches
for sharing water among users and across political jurisdictions.
Despite over 40 years of interest in water markets as a solution to
water scarcity, they have been slow to develop. Intensified
competition has also stimulated interest in river basins as the
ideal unit to manage conflicts and tradeoffs across jurisdictions,
but integration has proven elusive. This book investigates why
progress has been slower and more uneven than expected, and it
pinpoints the principles and practices associated with both
successes and failures. Garrick synthesizes theoretical traditions
in public policy and institutional economics, to examine the
influence of path dependency and transaction costs on water
allocation reform. Using evidence from historical sources, public
policy analysis and institutional economics, the book demonstrates
that reforms to water rights and transboundary governance
arrangements must be combined and complementary to achieve lasting
success at multiple scales. The original approach of this book, and
its comparison of three prominent sites of reform, makes it an
asset to practitioners of water policy, as well as water governance
scholars and academics in public policy and economics who are
focused on environmental policy, property rights and institutional
change.
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