Abstract
A comprehensive review of experiences with water quality trading (WQT) programs worldwide is presented, spanning altogether more than 4 decades. A new WQT database is built, extracting data and information from existing review papers, complemented with gray and published literature about individual trading programs. Key aspects that affect trading volumes and program continuation are identified and categorized. No single success or fail factor emerges from this review, typically a mix of factors play a role. There is potential for WQT to evolve further and serve as a cost-effective pollution control instrument, but this requires nudging political will to regulate nonpoint source.
| Original language | English |
|---|---|
| Pages (from-to) | 194-217 |
| Number of pages | 24 |
| Journal | Contemporary Economic Policy |
| Volume | 41 |
| Issue number | 1 |
| Early online date | 17 Aug 2022 |
| DOIs | |
| Publication status | Published - Jan 2023 |
Bibliographical note
Funding Information:This study was conducted as part of the Canada First Research Excellence Fund (CFREF) project Global Water Futures, in particular the projects Agricultural Water Futures and Lake Futures.
Publisher Copyright:
© 2022 Western Economic Association International.
Funding
This study was conducted as part of the Canada First Research Excellence Fund (CFREF) project Global Water Futures, in particular the projects Agricultural Water Futures and Lake Futures.
Keywords
- institutional design
- meta-review
- optimal trading ratio
- success and fail factors
- water quality trading
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