Non Market Valuation in New Zealand: 1974 through 2005 (Working Paper in Economics 07/17)

Yao, R & Kaval, P

University of Waikato

2007

Economics Department, University of Waikato

Waikato University Research Commons: http://hdl.handle.net/10289/1608

researchcommons@waikato.ac.nz

Non-market valuation (NMV) is recognized as an essential tool in policy decision making worldwide. In this paper, we investigate the history of NMV, specifically in relation to New Zealand (NZ), by compiling and analyzing all available published studies. Results show a significant increase in the number of studies, specifically those requested by government agencies, following the passage of the NZ Resource Management Act of 1991. Studies were found to be concentrated in three major areas: outdoor recreation, environmental conservation/management, and travel time savings. These three areas covered eight environmental commodities, the value of which totaled NZ$72 billion, or 50% of NZ GDP, with the highest valued commodity being biodiversity services. While our analysis yielded many positive results, we did discover, however, a severe lack of studies in many areas including pest control, water resources and outdoor recreation.

Keywords:

Non-market valuation, New Zealand, Consumer surplus, Resource Management, Parks, Economics, Outdoors, Environment, National Parks

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Evaluation

National

Outdoor Recreation, Recreation

Other setting, Outdoors

National Parks, Rivers and lakes, Travel and Transport

Financing / funding, Impacts - economic, Impacts - environmental, Impacts- social, Tourism

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June 20, 2012