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Methods for the allocation and valuation of water property rights in New Zealand

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dc.contributor.author Counsell, Kevin
dc.date.accessioned 2011-03-28T20:34:59Z
dc.date.accessioned 2022-10-25T07:21:39Z
dc.date.available 2011-03-28T20:34:59Z
dc.date.available 2022-10-25T07:21:39Z
dc.date.copyright 2004
dc.date.issued 2004
dc.identifier.uri https://ir.wgtn.ac.nz/handle/123456789/23542
dc.description.abstract Growing populations and incomes leading to increased competition for water are placing a strain on existing water resources worldwide - a strain that many current frameworks for water allocation fail to adequately address. Nonetheless, many countries have recognized the need to allocate scarce water resources efficiently and have implemented, or are beginning to implement, more effective property rights frameworks for water allocation. This study considers methods, based on economic theory and the experiences of a sample of countries, for the allocation and valuation of water property rights in New Zealand. It firstly addresses New Zealand's current framework for water allocation and identifies a number of issues with this framework. Based on recent experience with similar issues in other countries, this study finds that significant benefits to New Zealand's water sector could be generated by creating well-defined and tradable property rights to water. Within such property rights frameworks, it is also important that the value of these rights is well known by water users. This study outlines separate approaches for the valuation of two types of water rights for, respectively, the extraction of water and the storage of water. These types of rights are modelled as options, where the right holder has an option to extract or store water. Thus, contingent claims analysis can be used to determine the value of such rights. The results of this study have implications for New Zealand's current water allocation framework and the value of property rights to water, both within this current framework and in more desirable tradable water rights frameworks. en_NZ
dc.format pdf en_NZ
dc.language en_NZ
dc.language.iso en_NZ
dc.publisher Te Herenga Waka—Victoria University of Wellington en_NZ
dc.title Methods for the allocation and valuation of water property rights in New Zealand en_NZ
dc.type Text en_NZ
vuwschema.type.vuw Awarded Research Masters Thesis en_NZ
thesis.degree.discipline Economics en_NZ
thesis.degree.grantor Te Herenga Waka—Victoria University of Wellington en_NZ
thesis.degree.level Masters en_NZ
thesis.degree.name Master of Commerce and Administration en_NZ

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