The case of Chile is illustrative of a transition from command and control to market-based management policies, where economic incentives play a significant role in water management. This book deals with drought policy in Chile and other countries. It offers a detailed examination of drought management and policies. It describes, analyzes and evaluates the performance of drought policies, laws and institutions, identifies the main challenges that Chile faces and derives lessons learnt. Expert contributors discuss such topics as Chile’s drought water policy, and the reasoning which explains present challenges.