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Title: The market failures of Palestinian natural resources
Authors: Aburajab Tamimi, Talat
Keywords: Externalities. Market failure. Palestinian natural resources. Poverty. Shortsightedness.
Issue Date: 2009
Publisher: Margraf Publishers
Series/Report no.: Economic of resources use and Farming systems Development in the Middle east and Africa;pp. ( 71- 81)
Abstract: In Palestine as other countries in the world environment is not considered in policy appraisal stems from the fact that environmental goods and services are not marketed and therefore do not have prices that can be comparable with development costs and benefits. The dominant economic theory maintains that free and perfectly competitive markets will lead to optimal allocation of resources, including environmental goods and services, or to economic efficiency. Market failures are defined as those circumstances that prevent the perfect competition, and therefore economic efficiency, from being achieved. This paper discusses the major sources of market failures related to natural resources, which are the externalities; the public goods; the property rights; the ignorance and uncertainty; the short-sightedness; and the irreversibility, and tries to give some examples of the existence of these reasons in Palestine, and how to overcome them
ISBN: 978-3-8236-1556-9
Appears in Collections:Books

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