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- Title
The Cost-Effectiveness of Conservation Payments.
- Authors
Ferraro, Paul J.; Simpson, R. David
- Abstract
International donors invest billions of dollars to conserve ecosystems in low-income nations. The most common investments aim to encourage commercial activities, such as ecotoursim, that indirectly generate ecosystem protection as a joint product. We demonstrate that paying for ecosystem protection directly can be far more cost-effective. Although direct-payment initiatives have imposing institutional requirements, we argue that all conservation initiatives face similar challenges. Thus conservation practitioners would be well advised ti implement the first-best direct-payment approach, rather than a second-best policy option. An empirical example illustrates the spectracular cost savings that can be realized by direct-payment initiatives.
- Subjects
ECOSYSTEM management; ENVIRONMENTAL management; ECOTOURISM; TOURISM; ENVIRONMENTAL economics; COST effectiveness
- Publication
Land Economics, 2002, Vol 78, Issue 3, p339
- ISSN
0023-7639
- Publication type
Article
- DOI
10.2307/3146894