Edited by Ariel Dinar and Kurt Schwabe
Chapter 8: The use of the ecosystem services approach in guiding water valuation and management: inland and coastal waters
The purpose of this chapter is to present a methodology for the assessment of the total economic value of water services (i.e. the sum of financial, environmental and scarcity values) and the cost recovery level for water services, following an ecosystem services approach, and the identification of cost-effective measures to enhance current levels of cost recovery. This methodology has been applied earlier in the implementation of the economic elements (Articles 5, 9 and 11) of the European Water Framework Directive in Cyprus, Greece and Spain (for more details, see Birol et al., 2006a, 2006b; Koundouri, 2010a, 2010b; Koundouri and Papandreou, 2012; Diaz et al., 2013). The chapter is organized as follows. The first section presents a brief overview of the European Water Framework Directive and the Marine Strategy Framework Directive; the next section explains our proposed methodology; and, finally, we present examples of how part of the methodology has been applied in Spain and Finland.
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