| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 5050396 | Ecological Economics | 2012 | 5 Pages |
Virtual water trade is increasingly recognized as a useful metaphor for thinking about freshwater resources in an international context. Its legitimacy in terms of economic theory has been questioned by a number of authors, however. In this article I develop new theoretical results that place the virtual water concept on a firm economic foundation, and which correct several misconceptions within the existing literature on virtual water economics.
⺠The virtual water metaphor helps place water issues in an international context. ⺠This concept has been highly controversial among economists, however. ⺠Some of these controversies can be resolved by a closer examination of trade theory. ⺠I develop new results that place virtual water on a firmer economic foundation.
