Water Economics: An In-Depth Analysis of the Connection of Blue Water with Some Primary Level Aspects of Economic Theory I

Abstract

An analysis of the following aspects of water economics was undertaken: Water as an Economic and Social Good, Modes of Government Intervention, Water Scarcity in Economic Theory and Agricultural Water Management Changes, with the support of over 300 sources. Emphasis was placed on the connection with primary aspects of economics, in contrast to the usual applicative expositions found in water economics literature. This is a novel approach comparing international bodies’ definitions with economic theory at primary level which leads, upon occasion, to serious contradictions which were exhibited in broad lines. Furthermore, it compares the global implications of these definitions to the existing reality at country level, and a lack of bilateral consistency is exhibited. The uniform picture presented at global level is shown to become a non-uniform one at country level, where sharp variations in resources and availability form a competitive market between nations, and water-rich countries already possessing a competitive advantage are shown to attain a water-based comparative advantage as well. It is shown that although at country level water has a quasi-public good character with minimal private good market existence, this is achieved with the existence of a private goods market at international level via international trade in virtual water. A novel approach to management problems stemming from authority levels starting at global level and ending at farm level is analyzed and redressed by employing reality gap theory.

Impact of Climate Change on Hydrometeorology and Droughts in the Bilate Watershed, Ethiopia

“…Water resources, which were always limited and unevenly distributed, become regionally/locally scarce under the pressure of water consumption dependent on population growth and climate change. Thus, this intensifies scarcity, shocks, and access inequalities [9].…”

“…These extreme events have profoundly influenced the African economy [12,13]. Water is an economic good with the attribute of being a necessity [9], so drought-induced scarcity has an augmented impact. Ethiopia is one of these drought-prone countries whose economy is primarily dependent on rain-fed agriculture.…”

Water Control, Impacts and Sub-Regional Cooperation Around a Transboundary Hydrological System - The Case of the Kayanga/Geba Catchment Area: (Guinea, Senegal and Guinea-Bissau)

“…Since water is an economic good [18,19], dams have contributed significantly to socio-economic development through their benefits as long as they are technically, Water Control, Impacts and Sub-Regional Cooperation around a Transboundary Hydrological… DOI: http://dx.doi.org/10.5772/intechopen.105698 economically and financially feasible [20]. It is a given [21] that dam development at the national and regional scale is the main factor of economic development, while basins with dams have an increased economic activity by 25% over those that have no dams [22].…”

Agricultural Water Security under Climate Change in the Iberian Peninsula

“…Agriculture is the global primary water stakeholder in terms of withdrawals (70% of withdrawals and 92% of global freshwater consumption) [7] as water is considered to be an input endowment favoring agriculture vis à vis industry [8] while contributing to approximately 20% of the global emissions of greenhouse gases [9], contributing to strengthening climate change effects, with impacts on plant productivity growth cycle and damage to crops, namely due to extreme climate conditions [10]. Further, climate change effects are being manifested by shifts in previously observed patterns (e.g., extreme events, frequency and intensity of precipitation, hail, and hot and cold days) [11].…”