Regulating the water-energy-food nexus: Interdependencies, transaction costs and procedural justice
2017
Larcom, Shaun | van Gevelt, Terry
There have been calls for an overhaul of regulatory and governance frameworks to incorporate the implications of the water-energy-food nexus. We map one small component of the regulatory space of the nexus and highlight its immense complexity. We draw on insights from the economics and socio-legal literatures to show that a decentralised approach to regulation based upon procedural justice can enable the trade-offs of the nexus to be considered and addressed. We use a nexus case study of micro hydro-electricity generation in Dartmoor National Park in England to show that when we take into account interactions between state and non-state regulation, the economic concepts of interdependencies and transaction costs, and a recognition that regulation of the nexus is a process involving decisions of procedural justice, some existing regulatory frameworks are already well-equipped to deal with the implications of nexus analysis.
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