CHAPTER 4

THE RESULTS OF CHILEANWATER MARKETS: EMPIRICALRESEARCH SINCE 1990

The market for water rights has been the feature of Chile's 1981 Water Code that has attracted by far the most attention. This is especially true in international circles, where the Chilean Water Code has been perceived as essentially synonymous with Chilean water markets and water rights trading. Other issues of water management and the current institutional framework have been distinctly secondary in academic and policy research. Moreover, most of the research to date has been done by economists, which helps explain the focus on markets and trading.

The performance and results of Chilean water markets have been highly politicized topics both inside and outside Chile. ...

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