Journal
AGRICULTURAL WATER MANAGEMENT
Volume 145, Issue -, Pages 61-71Publisher
ELSEVIER SCIENCE BV
DOI: 10.1016/j.agwat.2013.12.001
Keywords
Water markets; Water planning; Water governance; Murray-Darling Basin; MDB Basin Plan; Economics; Environment; Price; Water trade
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The paper reviews the history of water markets and recent water reforms in the Murray-Darling Basin (MDB), Australia. A detailed examination of water markets in the MDB is given with a focus on: water charge and trading rules, trade restrictions, gains from trade, water market information, inter-temporal market price responses, and the environmental benefits of trade. Twelve lessons from the development of water markets in the MDB are provided to assist decision-makers interested in establishing or improving water markets in Australia, and beyond. (C) 2013 Elsevier B.V. All rights reserved.
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