Total Economic Valuation: Coastal and Marine Resources in the Straits of Malacca

Author(s): 
GEF/UNDP/IMO Regional Programme for the Prevention and Management of Marine Pollution in the East Asian Seas (MPP-EAS)
Year: 
1999
Location: 
Indonesia, Malaysia, Singapore
Type of Resource: 
Technical Reports / References
This report provides a framework for the economic valuation and initial estimates of the total economic value of coastal and marine resources in the Straits of Malacca. Often, resources are appreciated only in terms of the direct market values they provide. Because non-use values and ecosystem services are not fully quantified in markets, they are often given little weight in policy-making. The undervaluation of resources results in conflicting policies, such as conversion of resource areas to other uses, and overexploitation by people who are not well-informed of the consequent impacts. Valuation of natural resources and the environment necessitates the estimation of benefits and costs of using these natural assets.