Handbook of Market Creation for Biodiversity
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Handbook of Market Creation for Biodiversity

Issues in Implementation

Striking the right balance between the conservation/sustainable use and the loss of biodiversity requires accounting for all the impacts of its destruction. Weighing the loss against any potential benefits will ensure that the social, as well as economic, well-being of everyone are at the best levels possible. Market-based economic systems have the potential to ensure that such a balancing occurs, but require that all the impacts of its loss, or use, have been fully internalised into market transactions.

This book shows how public policy in the form of market creation can be used to internalise the loss of biodiversity. It promotes the use of markets to ensure that our collective preferences for conservation and sustainable use are reflected in economic outcomes.

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Publication Date :
03 Nov 2004
DOI :
10.1787/9789264018624-en
 
Chapter
 

Supporting Institutions – Property Rights You do not have access to this content

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    http://oecd.metastore.ingenta.com/content/9704141ec004.pdf
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Author(s):
OECD
Pages :
49–62
DOI :
10.1787/9789264018624-4-en

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The property rights regime applied to resources is usually a policy choice – its use is dependent upon circumstances. In a market creation context, however, property rights are a fundamental underpinning of successful outcomes. A property rights regimes, provides restricted access so that its "owner" is assured that today’s investments will generate tomorrow’s returns. A successful property rights institution, therefore, guarantees exclusive access to future flows of goods and services from a resource – thus providing the incentive for long-term, even inter-generational, planning. Many of the resources we have come to know as biodiversity are thought of as non-excludable, but need not be so. For example, the international agreement on the Law of the Sea provides that fisheries within 200 miles of a state’s coastline fall ...
Also available in: French