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\hypersetup{pdftitle={The Economic Impact of a Natural Resource Management Program:  the Case of Posaf"=ii in Nicaragua },pdfauthor={Luis De Los Santos Montero, Boris Bravo-Ureta},pdfsubject={Tropentag 2016: Abstract},pdfkeywords={Impact evaluation, Internal rate of return, natural resource management, Nicaragua, Propensity score matching},pdfpagemode=None,colorlinks=true}
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\parbox[b]{13.4cm}{\centering \large{\textbf{Tropentag, September 18-21, 2016, Vienna, Austria}}\\[1ex] \Large{``Solidarity in a competing world ---\\fair use of resources''\\[2ex]}}
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\Large{\textbf{The Economic Impact of a Natural Resource Management Program:  the Case of Posaf"=ii in Nicaragua \footnote{\textbf{Contact Address:} Luis De Los Santos Montero, Georg-August-Universität Göttingen, Department of Agricultural Economics and Rural Development., Gutenbergstr 6a, 33067~Gottingen, Germany, \mbox{e-mail}: \email{ldelossantos@gmail.com}}\\[0.8ex]}}
\normalsize{\textsc{Luis De Los Santos Montero$^{1}$, Boris Bravo-Ureta$^{2}$}}
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\begin{itemize*}
\item[]{\small{\textit{$^{1}$Georg-August-Universität Göttingen, Department of Agricultural Economics and Rural Development., Germany}}}
\item[]{\small{\textit{$^{2}$University of Connecticut, Office of International Affairs, United States of America}}}
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\index[author]{De Los Santos Montero, Luis}
\index[author]{Bravo-Ureta, Boris}
\begin{center}
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\textbf{Abstract}
\begin{abstract}
\normalsize{
Dealing with poverty reduction and natural resource degradation entails choosing appropriate mechanisms so as to achieve better living standards while also promoting the sustainable use of natural resources. In this context, generating evidence based on the rigorous analyses of the effects of interventions designed to improve the management of natural resources and farmer income has become an important priority for policy makers, and donors. In addition, determining what works and the associated results is another reason for producing the ``proof'' that validates public actions. A variety of programs aiming to reduce poverty, increase productivity and protect natural resources through the delivery of improved technologies (e.g., soil and water conservation techniques) have been implemented Latin America. However, rigorous analyses documenting the impact of these projects are scarce. A further limitation of the available studies is the lack of estimates of the internal rate of return (IRR) and benefit"=cost ratios of the NRM investments, which makes it difficult for policymakers to compare alternative investments. In order to tackle the current state of the literature, in this paper, we analyse the economic impact of natural resources technologies delivered by the implementation of Socioenvironmental and Forestry Development Program II (POSAF-II) in Nicaragua. To do so we use ordinary least squares (OLS), propensity score matching (PSM), propensity score weighted least squares (WLS) and instrumental variable (IV) regression. Results obtained from a weighted regression based on propensity score matching indicates that POSAF-II has had a positive impact on the total value of agricultural production of beneficiary farmers. An IRR of 33 per cent supports the hypothesis that increasing household income while encouraging a sustainable use of natural resources is possible through the implementation of natural resources management programs.}

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\noindent \textbf{Keywords:} Impact evaluation, Internal rate of return, natural resource management, Nicaragua, Propensity score matching
\index[key]{Impact evaluation}
\index[key]{Internal rate of return}
\index[key]{Natural!resource management}
\index[key]{Nicaragua}
\index[key]{Propensity score matching}
\end{document}
