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The Economics of Restoration

  • Kerrie A. Wilson
  • Megan Lulow
  • Jutta Burger
  • Marissa F. McBride
Chapter
Part of the World Forests book series (WFSE, volume 15)

Abstract

Macro-economic decisions determine the resources allocated at an international and a country-level to natural resource management. Micro-economic theory and tools are then used to ensure that this allocation will materialize into desired economic, environmental and societal outcomes. Restoration projects differ in their costs and benefits. The costs may entail operational costs, and those associated with alternative foregone opportunities. The benefits of restoration may reflect biodiversity outcomes or the provision of ecosystem goods and services, such as the supply of water and carbon sequestration. Restoration also has the potential to ensure supply of timber and non-timber forest products such as food and medicines, with potential significance for subsistence livelihoods. We synthesise approaches to valuing the costs and benefits of restoration projects in order to explore the economic consequences of restoration decisions and to prioritise investments. We finish the chapter by outlining economic incentives and policies that might support the implementation of restoration activities.

Keywords

Gross Domestic Product Natural Resource Management Restoration Project Private Benefit Public Benefit 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer Science+Business Media Dordrecht 2012

Authors and Affiliations

  • Kerrie A. Wilson
    • 1
  • Megan Lulow
    • 2
  • Jutta Burger
    • 2
  • Marissa F. McBride
    • 3
  1. 1.School of Biological SciencesThe University of QueenslandSt. Lucia, BrisbaneAustralia
  2. 2.Irvine Ranch ConservancyIrvineUSA
  3. 3.School of BotanyUniversity of MelbourneParkvilleAustralia

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