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Beyond Experiments in Development EconomicsLocal Economy-wide Impact Evaluation$
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J. Edward Taylor and Mateusz J. Filipski

Print publication date: 2014

Print ISBN-13: 9780198707875

Published to Oxford Scholarship Online: September 2014

DOI: 10.1093/acprof:oso/9780198707875.001.0001

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What’s a Reef Worth?

What’s a Reef Worth?

5 (p.112) What’s a Reef Worth?
Beyond Experiments in Development Economics

J. Edward Taylor

Mateusz J. Filipski

Oxford University Press

A coral reef is a non-market good, yet establishing its economic value can be critical to obtain the financing needed to protect it. The economic value of the reef that rings Roatán, Honduras, derives mostly from tourism, but tourist expenditures represent only part of the economic value of the reef. Much of the reef’s value is indirect, shaped by the market linkages that transmit impacts of tourist spending to households and businesses all around the island. Thus, a local economy-wide approach is required to ascertain the economic value of this unique natural resource. This study uses a SAM-based local economy-wide modeling approach to estimate the value of the Roatán reef, in terms of the income it generates. Estimates of the economic value of the reef range from $1.3 to $3.5 billion.

Keywords:   coral reef, natural resource valuation, contingent valuation, contingent behavior, SAM, LEWIE, economy-wide modeling, tourism, conservation, impact evaluation

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