Water Markets as a Vehicle for Water Reform: The Case of New South Wales

Posted: 11 Sep 2000

See all articles by Lin Crase

Lin Crase

La Trobe University - Business School

Leo O'Reilly

La Trobe University - Business School

Brian Dollery

University of New England (Australia) - School of Economics

Abstract

Water reform in NSW is being undertaken using an adaptive approach in recognition of the uncertainty and imperfect knowledge embodied in the riverine environment. However, the reform process also relies, in part, on the ability of markets for tradable water entitlements to develop and thereby assist in allocating scarce water resources to their highest value use. This article explores impediments to the formation of efficient markets in permanent tradable water entitlements in NSW. The article concludes that more attention should be paid to market failures and related problems which manifest themselves in thin markets for permanent water entitlements.

JEL Classification: Q25

Suggested Citation

Crase, Lin and O'Reilly, Leo and Dollery, Brian, Water Markets as a Vehicle for Water Reform: The Case of New South Wales. Available at SSRN: https://ssrn.com/abstract=236023

Lin Crase (Contact Author)

La Trobe University - Business School ( email )

La Trobe University
Bundoora, Victoria, Victoria 3083
Australia
+61 02 60 583834 (Phone)
+61 02 60 583833 (Fax)

HOME PAGE: http://www.dbus.aw.latrobe.edu.au/wcb/schools/BUS/

Leo O'Reilly

La Trobe University - Business School

La Trobe University
Bundoora, Victoria, Victoria 3083
Australia

Brian Dollery

University of New England (Australia) - School of Economics ( email )

Armidale, NSW, NSW 2351
Australia
+61 02 6773 2500 (Phone)
+61 02 6773 3596 (Fax)

HOME PAGE: http://www.une.edu.au/febl/EconStud/dollery.htm

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