Environmental economics and the Murray-Darling river system.

Much concern about the negative environmental consequences of agricultural development in Australia, including salinisation, waterlogging and algal blooms, has focused on the problems of the Murray-Darling Basin. The aim of this article is to provide an overview of the environmental problems of the Murray-Darling Basin from an economic perspective, and a selective survey of the relevant economic literature, including theoretical analysis, modelling and contributions to the development of water policy. In attempting to understand the complex problems of the Murray-Darling Basin, an eclectic approach drawing on externality, sustainability and property rights perspectives seems most appropriate. [ABSTRACT FROM AUTHOR]