GLOBAL VALUES FOR LOCAL RESOURCES A CONTINGENT VALUATION APPROACH FOR SINHARAJA RAIN FOREST RESERVE IN SRI LANKA
DOI:
https://doi.org/10.31357/fesympo.v0i0.1420Abstract
Tropical forests are sources of important global use and non-use values. However. thesevalues are not often reflected in global markets, thus creating global externalities. In orderto demonstrate glohal values of tropical rain forests. this study sought to estimate globalnon-use values of the Sinharaja Rain Forest Reserve in Sri Lanka
A contingent valuation survey was carried out in the United Kingdom in order to obtainexistence and bequest values for the forest. Open ended questions were asked from theselected sample of respondents 10 obtain their maximum willingness 10 pay.
The non use values elicited for the forest were related to variation in respondents' socioeconomic status. Multiple regression analysis showed that income and education hadpositive coefficients for hoth existence and bequest values.
The results showed that remote populations have positive values for tropical rain forest.Thc implications of these results to the use of contingent valuation methodology forestimating total economic values of forests in developing countries is discussed. and theparticular implications of demonstrating the magnitude of external benefits that couldprovide insights into the correction of global economic failures highlighted
