Markets, water rights and sustainable development

Fisher, Douglas E. (2006) Markets, water rights and sustainable development. Environmental and Planning Law Journal, 23(2), pp. 100-112.

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The use of market instruments has become one of the strategies for managing water resources in Australia over recent years. Water resources are expected to not only be used but to be developed sustainably. To achieve sustainability almost inevitably requires some degree of regulation in the public interest, while the use of market instruments is predicated upon freedom of choice. It is a challenge for the legal system to seek to accommodate these two potentially conflicting principles. This raises a number of questions: What is the nature of a market? How is a market recognised or created? What are the requirements for a water market? What might be a legal framework for a water market? How can sustainability be incorporated in such a framework? This article seeks to respond to some of these questions by using the conceptual framework created by the National Water Initiative of 2004 as the model.

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ID Code: 10418
Item Type: Journal Article
Refereed: Yes
ISSN: 0813-300X
Divisions: Current > QUT Faculties and Divisions > Faculty of Law
Copyright Owner: Copyright 2006 Thomson Legal and Regulatory
Deposited On: 29 Oct 2007 00:00
Last Modified: 29 Feb 2012 13:19

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