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Abstract
Conclusions • Producer surplus method (change in land rents due to irrigation provision) is a conceptually sound and practicable way of estimating shadow values of irrigation water • Shadow prices of water are location specific – more precise local data will yield more precise estimates • Growth in agricultural TFP raises the shadow price of irrigation water – Over 1987-2017, global average shadow price per 1000 m3 of irrigation water increased from $17 to $48 (at constant 2015 prices) – Total value of irrigation water in world agriculture = $140 billion circa 2017