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Tradeable Rights for Water Abstraction
Author(s) -
Streeter R.
Publication year - 1997
Publication title -
water and environment journal
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.437
H-Index - 37
eISSN - 1747-6593
pISSN - 1747-6585
DOI - 10.1111/j.1747-6593.1997.tb00129.x
Subject(s) - legislation , deregulation , agency (philosophy) , business , statutory law , duty , water resources , environmental economics , resource allocation , resource (disambiguation) , economic efficiency , current (fluid) , natural resource economics , economics , microeconomics , engineering , market economy , computer science , law , political science , philosophy , epistemology , ecology , computer network , electrical engineering , biology
The Environment Agency has a statutory duty to secure the proper use of water resources, which is now considered inter alia to include an economically efficient allocation of resources as far as is possible within the current legislation. This paper considers the practical extent to which water rights can be traded within the existing system of regulation as a means of (a) improving the economic efficiency of resource allocation, and (b) satisfying customer demand for additional supplies. Outline proposals are also made for deregulation of current legislation to encourage further trading through less restrictive regulation.