ENVIRONMENTAL THREATS WITHIN THE CURRENT

The creation and administration of national parks has traditionally been the sole responsibility of the government. It entails substantial costs and is seldom fully manageable. However, the free market may provide unexpected help. In Chile, for example, private landowners are buying land for conservation purposes, at their own cost. This article explores this spontaneous market phenomenon, its roots, characteristics, benefits and shortcomings. Privately protected areas (PPAs) could fulfill an important complementary role in public land conservation. Understanding who is investing money in land conservation, and why, is the basis for proposing mechanisms to adequately tap into the existing land conservation market, promoting further investment, enhanc-ing its benefits while minimizing its shortcomings and ensuring that social benefit is maximized at a minimum cost