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https://hdl.handle.net/2440/107667
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Type: | Book chapter |
Title: | The returns from investing in water markets in Australia |
Author: | Wheeler, S. Rossini, P. Bjornlund, H. Spagnoletti, B. |
Citation: | Handbook of Environmental and Sustainable Finance, 2016 / Ramiah, V., Gregoriou, G. (ed./s), Ch.18, pp.371-384 |
Publisher: | Elsevier |
Publisher Place: | United Kingdom |
Issue Date: | 2016 |
ISBN: | 012803615X 9780128036150 |
Editor: | Ramiah, V. Gregoriou, G. |
Statement of Responsibility: | Sarah Ann Wheeler, Peter Rossini, Henning Bjornlund, Belinda Spagnoletti |
Abstract: | Australia leads the world in establishing water markets to help reallocate a resource in scarce supply. Official water markets have now been in place in Australia for over three decades, which allows detailed financial analysis and comparison to be made on the returns available from investing in water. This chapter employs some simple financial analysis to examine the returns from the water market data in the Goulburn-Murray Irrigation District of Australia, including ratio-to-moving averages; price cycle analysis; discounted cash flow analysis; and comparisons of water market returns and capital growth in Australia as to other common areas of investment. Key insights include the fact that returns from water markets have been relatively high, though have fallen in the past 5. years. Moreover, there is evidence of countercyclical returns between water and share markets that highlights the potential utility of water investments in a diversified portfolio. |
Rights: | © 2016 Elsevier Inc. All rights reserved. |
DOI: | 10.1016/B978-0-12-803615-0.00018-2 |
Grant ID: | http://purl.org/au-research/grants/arc/DP140103946 |
Published version: | http://www.sciencedirect.com/science/book/9780128036150 |
Appears in Collections: | Aurora harvest 8 Global Food Studies publications |
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RA_hdl_107667.pdf Restricted Access | Restricted Access | 1.24 MB | Adobe PDF | View/Open |
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