As property rights concerns grow along with budget pressures, government agencies charged with balancing resource policy objectives need to consider institutional alternatives to regulation and land purchase. This paper examines how public agencies participate in markets for partial interests in public and private land as a means of influencing resource use and conservation. The paper also reviews the application of real option theory to the valuation of conservation easements and considers potential extensions to other partial interests.
Global Environmental Change and Agriculture offers a comprehensive perspective on the causes, consequences and possible policy solutions for climatic change as we move into the twenty-first century. It assesses the impact of potential future global climate change on agriculture and the need to sustain agricultural growth for economic development. The book begins by examining the role of international research institutions in overcoming environmental constraints on sustainable agricultural growth and economic development. The authors then discuss how agricultural research systems may be restructured to respond to global environmental problems such as climate change and loss of genetic diversity. The discussion then extends to consider environmental accounting and indexing, to illustrate how environmental quality can be included formally in measures of national income, social welfare and sustainability. The third part of the book focuses on the effects of and policy responses to climate change. Chapters examine the effect of climate change on production, trade, land use patterns and livelihoods. They consider impacts on the distribution of income between developed and developing countries and between different social classes within the developing world, where agriculture remains a major economic activity. Authors take on an economy-wide perspective to draw lessons for agricultural, trade, land use and tax policy. This book will be of special interest to agricultural, development and environmental economists as well as policy analysts in government and at international agencies confronting practical problems of environmental and economic assessment
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