Total Economic Valuation: Coastal and Marine Resources in the Straits of Malacca

PUBLICATION DATE:

Wednesday, September 01, 1999

PUBLICATION TYPE:

Reports

STATUS:

Out of Print

DESCRIPTION:

This report provides a framework for the economic valuation and initial estimates of the total economic value of coastal and marine resources in the Straits of Malacca. Often, resources are appreciated only in terms of the direct market values they provide. Because non-use values and ecosystem services are not fully quantified in markets, they are often given little weight in policy-making. The undervaluation of resources results in conflicting policies, such as conversion of resource areas to other uses, and overexploitation by people who are not well-informed of the consequent impacts. Valuation of natural resources and the environment necessitates the estimation of benefits and costs of using these natural assets.