Regulatory and Economic Instruments: A Useful Partnership to Achieve Collective Objectives?
A Loch, CD Perez-Blanco, D Rey, Erin O'Donnell, D Adamson
Reforming Water Law and Governance: From Stagnation to Innovation in Australia | Springer Nature | Published : 2018
© Springer Nature Singapore Pte Ltd. 2018. All Rights Reserved. In this chapter we examine how water governance and demand management arrangements can be linked to economic instruments, such as water markets, to address the broad range of water reallocation problems that exist in many global contexts. The utilization of economic instruments is context-specific throughout the world and can take many forms. This chapter therefore lists the pros and cons of some more common instruments. While successfully combining regulatory and economic instruments is far from straightforward, policy-makers can learn from growing evidence of successful partnerships between these two approaches. It may be cost..View full abstract