Table of Contents

Valuing the Environment in Developing Countries

Valuing the Environment in Developing Countries

Case Studies

Edited by David Pearce, Corin Pearce and Charles Palmer

In this book, the first of two volumes, the authors provide detailed case studies of valuation techniques that have been used in developing countries. They demonstrate that valuation works and that it can yield significant insights into policy-relevant issues regarding conservation and economic development. The authors address a whole range of environmental issues under the broad themes of water and air quality, biological diversity and forest functions. The economic approaches covered include contingent valuation, hedonic property prices, travel cost methodologies and benefits transfer.

Chapter 12: Valuing a marine park in Malaysia

Bee Hong Yeo

Subjects: development studies, development economics, economics and finance, development economics, environmental economics, valuation, environment, environmental economics, valuation


Bee Hong Yeo 1 INTRODUCTION Protected areas are increasingly recognized for the myriad of benefits that these living systems provide. In marine parks, coral reef ecosystems harbour diverse marine resources such as colourful reef fishes, invertebrate and algae species. The uniqueness of the coral reef ecosystems is a prime attraction for recreation and nature-based tourism. Coral reefs also perform significant ecological functions, such as providing nursery grounds for fish (vital in supporting fishery harvests) and coastline natural protection, and potentially contribute to carbon storage. In view of the important values of protected areas, it is crucial to strike a balance between economic development and environmental protection. There is growing emphasis on exploring win–win situations between natural resource conservation and its significant potential in generating economic benefits. Nevertheless, the increasing trend in global tourism demand for natural area experiences, enhanced by heightening natural resource scarcity, pose new challenges in terms of management and policy issues. The system of marine parks in Malaysia has been established since 1989 in recognition of the potential benefits of marine resource protection. In order to manage marine parks effectively and provide assured protection, adequate financial resources are needed to enhance institutional strengths and human capacity, proper infrastructure and well-maintained facilities. With pressing social and economic priorities, government funds for nature conservation are limited. In view of this, financing options need to be explored to complement existing government funding towards effective marine park management and sustainability. Decisions on natural...

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