Management of and Economic Returns from Selected Fisheries in the Nordic Countries
AbstractThere is potential to increase the economic returns in many fisheries by improving fisheries management. In this article, maximum and estimated current resource rents are analyzed using a standardized methodology for five case studies of fisheries with different management regimes: individual quotas (Norway), individual transferable quotas (Iceland), co-management (Denmark), vessel catch limits (Sweden), and tradable days-at-sea regulation (Faroe Islands). The Danish co-managed fishery had the highest estimated current rent, corresponding to 51% of landing value compared to a maximum rent of 62%. The Danish case was followed by the Icelandic ITQ fishery (estimated current 30%, maximum 66%), Faroese tradable days-at-sea (current 28%, maximum 55%), Swedish vessel catch limits (current 3%, maximum 74%), and Norwegian individual quotas (estimated current â€“22%, maximum 43%). Fishery characteristics other than management might influence the estimated resource rent, and the results are discussed in relation to biological sustainability. The method used across fisheries and countries for the estimation of the current economic rent, based on standardized opportunity costs of labor and capital, exaggerates the current positive rent for the ITQ fishery and the negative rent for the individual quota fishery.
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Bibliographic InfoArticle provided by Marine Resources Foundation in its journal Marine Resource Economics.
Volume (Year): 27 (2012)
Issue (Month): 1 ()
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Web page: http://www.uri.edu/cels/enre/mre/mre.htm
Fisheries management; economic returns; maximum economic yield; International Development; Research Methods/ Statistical Methods; Q22; Q27;
Find related papers by JEL classification:
- Q22 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Fishery
- Q27 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Issues in International Trade
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Asche, Frank & Eggert, Håkan & Gudmundsson, Eyjolfur & Hoff, Ayoe & Pascoe, Sean, 2008. "Fisher's behaviour with individual vessel quotas--Over-capacity and potential rent: Five case studies," Marine Policy, Elsevier, vol. 32(6), pages 920-927, November.
- H. Scott Gordon, 1954. "The Economic Theory of a Common-Property Resource: The Fishery," Journal of Political Economy, University of Chicago Press, vol. 62, pages 124.
- Flaaten, Ola & Heen, Knut & Salvanes, Kjell Gunnar, 1995. "The Invisible Resource Rent In Limited Entry And Quota Managed Fisheries: The Case Of Norwegian Purse Seine Fisheries," Marine Resource Economics, Marine Resources Foundation, vol. 10(4).
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