Abstract
We have learned a great deal since the end of the 1980s. Water markets have shown the potential to help countries and regions deal with their growing water shortages. However, to be effective water markets need to have wide acceptance by stakeholder and be designed so that water can be traded at low transaction costs. Third party impacts tend to be the most difficult issues that must be addressed when water markets are being designed. This involves both downstream users and environmental impacts. After over two decades of trial and error Australia has done a good job of adjusting their institutional arrangements to address most third party impacts. Luckily local water markets tend not to have many third party impacts as illustrated by the village level markets in Oman.
This is a preview of subscription content, log in via an institution.
Buying options
Tax calculation will be finalised at checkout
Purchases are for personal use only
Learn about institutional subscriptionsReferences
Easter KW, Rosegrant MW, Dinar A (1998) Markets for water. Potential and performance. Kluwer Academic Publisher, Boston, 298 p
Gisser M, Sánchez DA (1980) Competition versus optimal control in groundwater pumping. Water Resour Res 16(4):638–642
Author information
Authors and Affiliations
Corresponding author
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2014 Springer Science+Business Media Dordrecht
About this chapter
Cite this chapter
Easter, K.W., Huang, Q. (2014). The New Role for Water Markets in the Twenty-First Century. In: Easter, K., Huang, Q. (eds) Water Markets for the 21st Century. Global Issues in Water Policy, vol 11. Springer, Dordrecht. https://doi.org/10.1007/978-94-017-9081-9_17
Download citation
DOI: https://doi.org/10.1007/978-94-017-9081-9_17
Published:
Publisher Name: Springer, Dordrecht
Print ISBN: 978-94-017-9080-2
Online ISBN: 978-94-017-9081-9
eBook Packages: Earth and Environmental ScienceEarth and Environmental Science (R0)