TY - JOUR
T1 - Managing a scarce resource in a growing Asian economy
T2 - Water usage in Hong Kong
AU - WOO, Chi-Keung
AU - WONG, Wing Keung
AU - Horowitz, Ira
AU - CHAN, Hing Lin
N1 - Funding Information:
We thank the editor for his substantive comments that have significantly improved this manuscript. We also acknowledge the very helpful and constructive comments of a diligent, anonymous referee who in particular called our attention to the structural break that we affirm and discuss in Section 4.3 . The referee, however, is blameless for any remaining errors. The research is partially supported by the grants from Hong Kong Baptist University and Research Grants Council of Hong Kong .
PY - 2012/8
Y1 - 2012/8
N2 - An econometric analysis of Hong Kong's monthly per capita water usage for the 25-year period of April 1985 through March 2010 reveals that per capita usage is insensitive to price but dependent upon past usage, per capita income, weather, and seasonal factors, with rising income countering what would otherwise be a downward trend. Given Hong Kong's current inflationary environment and large government budget surplus, these findings affirm the Hong Kong Water Supplies Department's adopted strategy of total water management towards sustainable use of water resources, in lieu of either periodic service interruption or price increases as policy instruments.
AB - An econometric analysis of Hong Kong's monthly per capita water usage for the 25-year period of April 1985 through March 2010 reveals that per capita usage is insensitive to price but dependent upon past usage, per capita income, weather, and seasonal factors, with rising income countering what would otherwise be a downward trend. Given Hong Kong's current inflationary environment and large government budget surplus, these findings affirm the Hong Kong Water Supplies Department's adopted strategy of total water management towards sustainable use of water resources, in lieu of either periodic service interruption or price increases as policy instruments.
KW - Demand-side management
KW - Hong Kong
KW - Partial-adjustment regression model
KW - Price elasticity
KW - Water-usage elasticity
UR - http://www.scopus.com/inward/record.url?scp=84861940297&partnerID=8YFLogxK
U2 - 10.1016/j.asieco.2012.03.007
DO - 10.1016/j.asieco.2012.03.007
M3 - Journal article
AN - SCOPUS:84861940297
SN - 1049-0078
VL - 23
SP - 374
EP - 382
JO - Journal of Asian Economics
JF - Journal of Asian Economics
IS - 4
ER -