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Annual Review of Resource Economics - Early Publication
Reviews in Advance appear online ahead of the full published volume. View expected publication dates for upcoming volumes.
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Groundwater Institutions in the Face of Global Climate Change
First published online: 29 April 2024More LessWe review the literature on the performance of groundwater institutions, including command-and-control (CAC) approaches, market-based institutions (MBIs), and voluntary approaches, and evaluate how they will perform as agriculture adapts to climate change. Both CAC approaches and MBIs lead to uneven distributional impacts on farmers, and voluntary approaches have not been successful in reducing water withdrawal on a large scale. A polycentric approach of regulation plus local management might perform well. Climate change will increase the irrigation demand for groundwater and demand flexible and properly scoped institutions that attend to local conditions.
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The Economics of Drought
First published online: 25 April 2024More LessWater scarcity and drought have determined the structure, location, and fate of civilizations throughout history. Drought remains an important factor in the performance of developed and developing economies, especially in the agricultural sector. While significant attention has been paid to drought as a meteorological phenomenon and on its economic impact, comparative institutional analysis of the economics of drought is limited. In this review, we focus on how economic institutions, the humanly devised constraints that shape the allocation and use of water, impact the severity and incidence of droughts. Water property rights in developed countries encourage infrastructure investments and reallocations that mitigate drought impacts, although such institutions may codify inequitable water access during drought. Developing economies rely more on informal strategies for mitigating drought and remain more vulnerable, experiencing economic losses, conflict, and violence.
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Political Economy of Agriculture and Food Policy in Africa
First published online: 09 April 2024More LessThis article reviews the literature on the political economy of agricultural and food policy in sub-Saharan Africa. In doing so, it first presents a conceptual framework highlighting that agricultural and food policy decisions are contingent on the intersection between governance structures, the preferences and pressures from societal interest groups, and international dynamics. The interrelations among these three factors are then examined across several different sets of policy instruments that have been the focus of traditional political economy research in the region: trade, tax, and marketing policies; public investments and regulations; input and food subsidies; and cross-cutting policies for value chain development. Recognizing several broader demographic, technology, and governance transitions in the region, the article also highlights key areas for future analysis that examine the role of cities in food policy, the possibilities presented by expanded mobile phone and Internet access, and the efficacy of new public administration modalities for policy implementation.
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