A note on contradictions in Australian Water Policy

Lin Crase, Nicholas Pawsey, Sue O'Keefe

Research output: Contribution to journalArticle

Abstract

The success of Australia's water markets is now well documented and confirms the hypothesised usefulness of water markets as a policy tool, at least in the context of places like the Murray–Darling Basin. In this article, we reflect on the theoretical benefits of water markets as a point of reference against which to scrutinise the current penchant of government to subsidise irrigation infrastructure in efforts to address over-allocation. We conclude that this approach results in a serious contradiction, unless there are grounds for believing that government has insights into the dynamic efficiency of the irrigation industry that exceed the coordination power of the market.
Original languageEnglish
Pages (from-to)353-359
Number of pages7
JournalEconomic Papers: a journal of applied economics and policy
Volume32
Issue number3
DOIs
Publication statusPublished - 2013

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