Economic Valuation of Mangroves in the Philippines: A Meta-Analysis

Date

6-2022

Degree

Bachelor of Science in Economics

College

College of Economics and Management (CEM)

Adviser/Committee Chair

Asa Jose U. Sajise

Committee Member

Jaime Kim B. Arias Asa Jose U. Sajise Ma. Angeles O. Catelo Agham C. Cuevas

Abstract

This paper aims to value the ecosystem services of mangroves in the Philippines through a meta- analysis. Several mangrove economic valuation literature from Southeast Asian countries and estimates are used as the database for assessing the values of the mangroves in the Philippines. Using pre-identified criteria, a total of 203 economic value estimates from 71 studies formed the database for meta-analysis. The values are standardized in annual US$ per hectare in 2018 prices. Ordinary Least Square was used to regress the logarithm of each study's Willingness to Pay (WTP) estimates with a). income of the population within the mangrove location (in 2018 prices), b). mangrove forest area (ha.), c). Ecosystem Services categories, and d). the valuation method used in the study. Results of the regression showed that for the collected studies, the population's income does not contribute to explaining the WTP values. Consistent with earlier findings of an existing meta-analysis study, the mangrove area (in hectares) had a negative relationship with WTP, such that a 10% increase in the mangrove area resulted in a 3.6% decrease in its value per hectare. Forestry, ecotourism, and nonuse services are also statistically significant variables. All three had negative coefficients, which implies that these ecosystem services resulted in lower WTP values relative to fisheries provisioning services. In terms of valuation methodologies, the travel cost and other methods variables had statistically significant positive coefficients. This association means that relative to the market price method, these valuation methodologies are associated with higher economic value estimates for mangrove ecosystem services. Finally, the meta-analysis function from the study was applied to Philippine mangrove valuation studies. It was found that the current meta-analysis function still has a low predictive power.

Language

English

LC Subject

Economic valuation, Mangroves, Meta-analysis

Location

UPLB College of Economics and Management (CEM)

Call Number

LG 993.5 2022 E2 M37

Document Type

Thesis

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