Water Trading and Global Water Scarcity: International Experiences, 1st Edition (Hardback) book cover

Water Trading and Global Water Scarcity

International Experiences, 1st Edition

Edited by Josefina Maestu


376 pages | 45 B/W Illus.

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Water scarcity is an increasing problem in many parts of the world, yet conventional supply-side economics and management are insufficient to deal with it. In this book the role of water trading as an instrument of integrated water resources management is explored in depth. It is also shown to be an instrument for conflict resolution, where it may be necessary to reallocate water in the context of increasing scarcity.

Recent experiences of implementation in different river basins have shown their potential as instruments for improving allocation. These experiences, however, also show that there are implementation challenges and some limitations to trading that need to be considered. This book explores the various types of water trading formulas through the experience of using them in different parts of the world. The final result is varied because, in most cases, trading is conditioned by the legal and institutional framework in which the transactions are carried out. The role of government and the definition of water rights and licenses are critical for the success of water trading.

The book studies the institutional framework and how transactions have been undertaken, drawing some lessons on how trading can improve. It also analyses whether trading has really been a positive instrument to manage scarcity and improve water ecosystems and pollution emission problems in those parts of the world which are most affected. The book concludes by making policy proposals to improve the implementation of water trading.

Table of Contents

Introduction: Myths, Principles, and Issues in Water Trading

Ronald C. Griffin, Dannele E. Peck, and Josefina Maestu

Part 1: Water Trading Experiences

1. Introduction: How We Are Implementing Water Trading: Learning from Experience

Josefina Maestu

2. Managing Water Stress, Drought and Climate Change in The 21st Century: Water Trading as part of Integrated Approaches in Water Management

Cody L. Knutson

3. New Frontiers for Water Management. The California Experience

Ellen Hanak

4. Water Trades in the Western US: Risk, Speculation and Property Rights

Kristiana Hansen, Richard Howitt, and Jeffrey Williams

5. Water Markets and Their Environmental, Social and Economic Impact in Australia

Henning Bjorlund, Sarah Wheeler and Peter Rossini

6. Trading into and out of Trouble. Australian’s Water Allocation and Trading Experience

Mike Young

7. The Evolution of Water Markets in Chile

Guillermo Donoso

8. The Experience of Water Markets and the Market Model in Chile

Carl J. Bauer

9. Breaking the Gridlock in Water Reforms through Water Markets: Experience and Issues for India

Nirmal Mohanty, Shreekant Gupta

10. Areas of Conflict and the role of Water Trading: the case of Spain

Antonio Serrano

11. Voluntary Water Trading in Spain: a Mixed Approach of Public and Private Initiatives

Alberto Garrido, Josefina Maestu, Almudena Gomez-Ramos, Teodoro Estrela, Jesus Yague, Ricardo Segura, Javier Calatrava, Pedro Arrojo, Francisco Cubillo

Part 2: Concerns About Water Trading And How Are We Dealing With Them

12. Introduction: Concerns about Water Trading

Carlos M. Gomez, Eduard Interwies, Stefan Görlitz

13. The Myth of Markets for Water

Joseph W. Dellapenna

14. Cash Flows: Markets for Environmental Flow Allocations

David Katz

15. Experiences with Water Quality Trading in the United States of America

Robert J. Rose

Part 3: Reforms to Overcome Legal and Institutional Barriers to Trading

16. Introduction: Considering Institutional frameworks and institutional reforms in trading

Carlos M. Gomez

17. Water and Development in Latina America: Rights, Markets, Economic Context and Institutional Requirements

Miguel Solanes

18. The Theory and Practice of Australian Institutional Reforms to Incorporate Water Markets in Integrated Water Resources Management

Jennifer Mc Kay

19. Legal reforms that facilitate trading of water use rights in Spain

Antonio Embid

20. Drought Management, Uncertainty and Option Contracts

Almudena Gomez-Ramos

Part 4: Can we get incentives right?

21. Introduction: Incentives and prices in water trading

Carlos M. Gomez

22. Models for Optimal Water Management and Conflict Resolution

Franklin M. Fisher

23. Optimization Modelling in Water Resource Systems and Markets

Jay R. Lund

Conclusions and Recommendations for Implementing Water Trading: How Water Trading can be Part of the Solution

Josefina Maestu and Almudena Gomez-Ramos


About the Editor

Josefina Maestu is Coordinator of the United Nations Office to Support the International Decade for Action "Water for Life" 2005-2015, based in Zaragoza, Spain. For 12 years she has been a lecturer on economics of natural resources management at the University of Alcala, Spain.

Pedro Arrojo, Carl J. Bauer, Henning Bjorlund, Javier Calatrava, Francisco Cubillo, Joseph W. Dellapenna, Guillermo Donoso, Antonio Embid, Teodoro Estrela, Franklin M. Fisher, Alberto Garrido, Carlos M. Gomez, Almudena Gomez-Ramos, Stefan Görlitz, Ronald C. Griffin, Shreekant Gupta, Ellen Hanak, Kristiana Hansen, Richard Howitt, Eduard Interwies,David Katz, Cody L. Knutson, Jay R. Lund, Jennifer Mc Kay, Nirmal Mohanty, Dannele E. Peck, Robert J. Rose, Peter Rossini, Ricardo Segura, Antonio Serrano, Miguel Solanes, Sarah Wheeler, Jeffrey Williams, Jesus Yague, and Mike Young.

About the Series

RFF Press Water Policy Series

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Subject Categories

BISAC Subject Codes/Headings:
BUSINESS & ECONOMICS / Industries / Service Industries
BUSINESS & ECONOMICS / Environmental Economics
NATURE / Ecosystems & Habitats / Rivers
TECHNOLOGY & ENGINEERING / Agriculture / Irrigation
TECHNOLOGY & ENGINEERING / Environmental / Water Supply