Assessing the Benefits and Costs of Dryland Forest Restoration in Central Chile

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dc.contributor.authorSchiappacasse, Ignacio
dc.contributor.authorNahuelhual, Laura
dc.contributor.authorVásquez Lavín, Felipe
dc.contributor.authorEcheverría Valenzuela, Cristián
dc.date.accessioned2016-11-22T17:11:56Z
dc.date.available2016-11-22T17:11:56Z
dc.date.issued2012
dc.description.abstractInvestment in natural capital restoration is increasing as a response to the widespread ecological degradation of dryland forests. However, finding efficient mechanisms to promote restoration among private landowners is a significant challenge for policy makers with limited financial resources. Furthermore, few attempts have been made to evaluate the costs and benefits of restoration interventions even though this information is relevant to orient decision making. Hence, our goal was to estimate the benefits and costs of dryland forest restoration by means of reforestation with native trees in a study area in central Chile. To determine benefits we applied a Contingent Valuation questionnaire that allowed for the calculation of willingness to pay measures. Restoration costs were calculated based on market prices following existing technical recommendations developed for the study area. The results showed that the restoration project had a negative NPV irrespective of the discount rate applied in the analysis. Thus, the NPV varied between -US$71,000 and -US$258,000. The NPV attained positive results only for negative discount rates (US$15,039 for -2%) and only when the national subsidy available for forest restoration was taken into account. This shows that landowners in Colliguay do not have incentives for carrying out restoration interventions due to a classic market failure: that in which ecosystems are mismanaged because many of their benefits are externalities from the perspective of landowners. Overall, these results stress the need for developing new compensation mechanisms and enhancing those in existence, with the aim of making restoration competitive with other land uses. (C) 2011 Elsevier Ltd. All rights reserved.
dc.identifier.citationJournal of Environmental Management, 2012, vol. 97, p. 38-45
dc.identifier.urihttp://hdl.handle.net/11447/847
dc.identifier.urihttp://dx.doi.org/10.1016/j.jenvman.2011.11.007
dc.language.isoen_US
dc.subjectDryland forests
dc.subjectEcosystem services
dc.subjectEconomic valuation
dc.subjectEcological restoration
dc.subjectContingent valuation
dc.titleAssessing the Benefits and Costs of Dryland Forest Restoration in Central Chile
dc.typeArtículo

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