TITLE:
The Economic Value of Kimhy Reserve in Backan, Vietnam
AUTHORS:
Ho Ngoc Cuong, Nguyen Van Song, Vu Ngoc Huyen
KEYWORDS:
Kimhy Reserve, Economic Value, Backan, Vietnam
JOURNAL NAME:
Modern Economy,
Vol.11 No.2,
February
25,
2020
ABSTRACT: This study conducted to examine the total economic
value (TEV) of Kimhy Reserve by using a combination of Stated Preference
approach and Market-based approach such as market price method, replacement
cost, avoidable cost. The results indicated that Kimhy Reserve has use value
and non-use value. The TEV of Kimhy Reserve for adjacent community was
about 3.3
billion VND per year, equivalent to USD 364.83 per household. The economic
value generated from direct use value accounted for about 67%. The result also pointed
out that the indirect use value was about 23%. It was clear seen that almost livelihood of the
adjacent community was relative to Kimky Reserve. Given the high level of
illegal natural resource extraction and wildlife trade, the livelihood of community
around is affected seriously. The results of study recommend that the economic
and environmental value of Kimhy Reserve should be recognized by local
community. The policies should be implemented better to protect Kimhy Reserve.