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Abstract: In most countries, owner responsibility exists under Common Law to manage and maintain dams according to current standards. However, farm dam safety in Australia is being flouted and the sustainability of farming businesses compromised because of the potential and severe consequences of dam failure. This paper explores management and policy issues associated with safety of farm dam water storage through a comparison of developments in two Australian states against international benchmarks. Historical review and a longitudinal study over a 12-year period provides the basis for case analysis and demonstrates the application of the benchmarked model policy selection guidelines. Research results show South Australia is lagging international best practice in a number of ways whilst Tasmania provides leadership. The contribution of this paper is a regulatory mix analysis approach, incorporating a cost-effective spillway safety engineering/accounting tool, developed and demonstrated through Australian case studies, that can be applied by any jurisdiction wanting to check and/or improve its farm dam safety management and provide a clearer analysis of the social and environmental costs and threats associated with on-farm dam safety issues. [ABSTRACT FROM AUTHOR]

Abstract: We discuss the role and characteristics of water markets in Australia in facilitating efficient water allocation. Administrative, regulatory and/or political barriers to effective functioning of water markets are reviewed with a focus on the southern Murray-Darling Basin (MDB) region of Australia. A mathematical model is developed to estimate the costs of existing restrictions and the benefits from potential changes in water markets (e.g., removing barriers in temporary water markets). The modelling results reveal that expanding trade leads to an increase in mean annual net returns from AU $2502 million to AU $2590 million (i.e., an increase of AU $88 million). When the current volume restrictions, exchange rates, and trading charges are accounted for, mean annual net returns reduced from AU $2590 million to AU $2573 million (i.e., a reduction of AU $17 million). The exclusion of any of the three southern MDB states from the interstate water trading imposes significant costs. If South Australia, New South Wales or Victoria withdraws from the water market, net returns are reduced by AU $27 million, AU $31 million and $63 million, respectively. The paper outlines the policy implications of strategies to remove market barriers and to facilitate efficient and effective water trading. [Copyright &y& Elsevier]