Coastal Resources Development Options in the Southeast Asia and the Pacific Regions: Economic Valuation Methodologies and Applications in Mangrove Development

Abstract

Coastal resources like the mangroves of the Southeast Asian and the Pacific regions are under pressure from economic development. Mangroves are important coastal ecosystems and provide direct and indirect benefits as well as essential ecological services. It is argued that since many of these benefits are not marketed, there is a general lack of appreciation of them, hence mangroves are regarded as ‘wastelands’. An overview of major threats to mangroves in these two regions is presented. Unsustainable use of mangrove resources is discussed in terms of market and policy failures. These failures result in non-recognition of mangrove values in development decisions often resulting in irreversible conversions to alternate land uses. Total Economic Valuation Methodologies to capture all economic values (which are both marketed and non-marketed) are discussed. The application of these methodologies is illustrated by two case studies drawn from the Southeast Asia and the Pacific regions. These case studies of economic valuation demonstrate that mangroves are not ‘wastelands’ but have highly comparable values to several alternate use values. Development options which result in unsustainable use or irreversible conversions provides greater justification to undertake total economic valuation.