Valuation of Forest Resources in Watershed Areas: Selected Applications in Makiling Forest Reserve

The valuation of resources found in the watershed area is important in assessing the impacts of changes in the watershed. While the change will have positive impacts which are short-term in nature, there are long-term environmental damages associated with economic benefits. This paper gives a rational judgment on the soundness of such changes through cost and benefit analysis. The watershed approach is utilized to capture the effects that are relevant in the analysis.