Structuring water rights in China: a hierarchical framework

Wang, Yahua; Wan, Tingting; Biswas, Asit K.

doi:10.1080/07900627.2017.1378627

Cited by 16 publications

(6 citation statements)

References 39 publications

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“…The establishment of water entitlements and water markets is a common response to scarcity. This approach has been adopted to reallocate water resources between competing users in the United States of America (e.g., Marston and Cai 2016), China (e.g., Wang et al 2018) and elsewhere (Endo et al 2018). To our knowledge, the determination of 'Low' and 'High' security entitlements is unique to the Australian water market.…”

Section: Discussionmentioning

confidence: 99%

‘Sub-Prime’ Water, Low-Security Entitlements and Policy Challenges in Over-Allocated River Basins: the Case of the Murray–Darling Basin

Moore

Rutherfurd

Peel

et al. 2020

Environmental Management

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Environmental policy is often implemented using market instruments. In some cases, including carbon taxing, the links between financial products and the environmental objectives, are transparent. In other cases, including water markets, the links are less transparent. In Australia's Murray-Darling Basin (MDB), financial water products are known as 'entitlements', and are similar to traditional financial products, such as shares. The Australian water market includes 'Low Security' entitlements, which are similar to 'sub-prime' mortgage bonds because they are unlikely to yield an amount equal to their financial worth. Nearly half the water purchased under the Murray-Darling Basin Plan for environmental purposes is 'Low Security'. We suggest that the current portfolio of water held by the Australian Government for environmental purposes reflects the mortgage market in the lead-up to the global financial crisis. Banks assumed that the future value of the mortgage market would reflect past trends. Similarly, it is assumed that the future value of water products will reflect past trends, without considering climate change. Historic records of allocations to 'Low Security' entitlements in the MDB suggest that, in the context of climate change, the Basin Plan water portfolio may fall short of the target annual average yield of 2075 GL by 511 GL. We recommend adopting finance sector methods including 'hedging' 'Low Security' entitlements by purchasing an additional 322-2755 GL of 'Low Security', or 160-511 GL of 'High Security' entitlements. Securing reliable environmental water is a global problem. Finance economics present opportunities for increasing the reliability of environmental flows.

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Section: Discussionmentioning

confidence: 99%

‘Sub-Prime’ Water, Low-Security Entitlements and Policy Challenges in Over-Allocated River Basins: the Case of the Murray–Darling Basin

Moore

Rutherfurd

Peel

et al. 2020

Environmental Management

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“…Once again, the first-hand knowledge gained in the course of establishing the pilot scheme has been supplemented by a review of some of the most thoughtful and revealing studies concerning water rights and trading in China. This has tended to confirm that conditions and challenges in the Shiyang Basin are not significantly different from those in the great mass of irrigated agricultural areas across China. Water markets in China do not need to be exactly like Australia's (Wang, Wan, & Biswas, 2017). Already there are moves in China, for example, towards having provinces trade water -trading on a much grander scale than anything in Australia.…”

Section: Methodsmentioning

confidence: 99%

How could water markets like Australia’s work in China?

Lewis

Zheng

2018

International Journal of Water Resources Development

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“…This paper tries to answer an important question: What are the drivers of YREZ's GAWUE? Normally, the efficiency of agricultural water utilization is affected by internal factors, such as agricultural production conditions [19], technological progress [20], and the educational level of farmers [21], as well as external factors, such as water price system [22], and government intervention factors [23].…”

Section: Tobit Modelmentioning

confidence: 99%

Evaluation and Drivers of Green Agricultural Water Use Efficiency in Yangtze River Economic Zone

Shi¹,

Zhou²,

Liu³

2020

IJSDP

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The efficient use of agricultural water is the key for Yangtze River Economic Zone (YREZ) to realize ecological green development. Taking the panel data on 11 YREZ regions in 2011-2018 as the object, this paper establishes an evaluation indicator system for green agricultural water use efficiency (GAWUE) containing undesired output, and adopts the epsilon-based measure (EBM) model to evaluate YREZ’s GAWUE. After analyzing the regional differences in YREZ’s GAWUE, the Tobit model was introduced to verify the drivers of GAWUE. The results show that: In the study period, YREZ’s GAWUE exhibits some regional differences. The mean GAWUEs of Shanghai, Jiangsu, Zhejiang, and Sichuan were optimized; those of Guizhou, Yunnan, Chongqing, and Hubei were relatively desirable, leaving a small room for improvement, the mean GAWUEs of Hunan, Jiangxi, and Anhui were undesirable, waiting for major improvement in future. Overall, the lower reaches had the highest GAWUE, followed by the upper reaches, while the middle reaches had the minimum GAWUE. The Tobit model shows that agricultural technological growth (ATG) and agricultural water intensity (AWI) greatly promote GAWUE, while farmer income level (FIL), water resources endowment (WRE), agricultural planting structure (APS), and farmland irrigation area (FIA) significantly suppress GAWUE.

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Structuring water rights in China: a hierarchical framework

Cited by 16 publications

References 39 publications

‘Sub-Prime’ Water, Low-Security Entitlements and Policy Challenges in Over-Allocated River Basins: the Case of the Murray–Darling Basin

‘Sub-Prime’ Water, Low-Security Entitlements and Policy Challenges in Over-Allocated River Basins: the Case of the Murray–Darling Basin

How could water markets like Australia’s work in China?

Evaluation and Drivers of Green Agricultural Water Use Efficiency in Yangtze River Economic Zone

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