Fifteen years ago Chile adopted a neoliberal Water Code characterized by strong private property rights, market forces and incentives, and weak state regulation. Chile remains the leading international example of free market water policies. Coordinating multiple water uses is left to private bargaining among the owners of water rights, with conflicts going to a judiciary that has expanded powers. A case study of irrigation-hydroelectric relations shows the current model for river basin management to have serious flaws. The results highlight some of the limitations of free market environmental policies, particularly their dependence on effective legal and institutional frameworks.
|Original language||English (US)|
|Number of pages||44|
|Journal||Natural Resources Journal|
|State||Published - Dec 1 1998|
ASJC Scopus subject areas
- Environmental Science (miscellaneous)