Market for water rights in Chile: Major issues. World bank technical paper
Many economists advocate the use of tradable water rights as the most efficient system for allocating scarce water resources among alternative economic uses. The paper reviews the major issues and controversies that have surrounded the practical implementation of this system in Chile. The paper contends that the system in Chile has worked reasonably well although some ammendments may be needed. Among other things, a more precise definition of non-consumptive rights is called for and transaction costs arising from incomplete legalization of water titles, lack of infrastructure, and free rider problems need to be reduced. However, fine tuning of the system, rather than drastic reform, seems the most advisable policy recommendation.
- Research Organization:
- International Bank for Reconstruction and Development, Washington, DC (United States)
- OSTI ID:
- 147505
- Report Number(s):
- PB-96-107669/XAB; WORLD BANK TP-285; TRN: 53243555
- Resource Relation:
- Other Information: DN: Library of Congress catalog card No. 95-23791; PBD: Sep 1995
- Country of Publication:
- United States
- Language:
- English
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