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Water markets as a vehicle for reforming water resource allocation in the Murray-Darling Basin of Australia

机译：水市场作为改革澳大利亚墨累达令盆地水资源分配的手段

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摘要

Water trade and the establishment of water markets continue to gain popularity among legislators as a vehicle for progressing the reform of the water resources sector in Australia. This has manifested itself at the most recent meeting of the Council of Australian Governments, where a range of changes to address the declining health of inland rivers included the strengthening of water property rights. These views appear to be premised on the belief that nonattenuated water rights are a prerequisite for maximizing the productive benefits of water and are broadly in line with notions often derived from neoclassical market theory. However, in spite of the apparent faith in the market mechanism, there is a growing literature illustrating the limitations of the market framework in the context of water resource management. Accordingly, there would appear to be grounds for a more cautious approach that recognizes the potential for market failures to emerge. This article explores the present growth of water markets and the legislative background that circumscribes them in the Murray-Darling Basin. Recognizing the constraints imposed by the status quo, this study then examines the implications of stronger property rights for entitlement holders and the use of water markets in the context of the goals assigned to Australian water managers.
机译：水贸易和水市场的建立在立法者中继续受到欢迎，作为推动澳大利亚水资源部门改革的手段。这一点在澳大利亚政府理事会最近一次会议上就得到了体现，其中为应对内陆河流健康状况下降而进行的一系列改革包括加强水产权。这些观点的前提是相信非衰减的水权是最大限度地提高水的生产效益的先决条件，并且与新古典市场理论中经常提出的观念大体一致。然而，尽管人们对市场机制有明显的信心，但越来越多的文献表明在水资源管理的背景下市场框架的局限性。因此，似乎有理由采取更为谨慎的方法，这种方法认识到可能出现市场失灵。本文探讨了墨累达令盆地水市场的当前增长以及限制水市场的立法背景。认识到现状所带来的限制，本研究然后研究了在分配给澳大利亚水管理者的目标范围内，更强的产权对权利持有者的影响以及对水市场的利用。

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