Rent Collection, Rent Distribution, and Cost Recovery: An Analysis of Icelandâ€™s ITQ Catch Fee Experiment
AbstractResource rentals can be defined as payments made by the user of a resource to the stakeholders to whom the payment accrues. Typically, resource rentals take the form of a payment by a commercial enterprise to the state. Resource rentals can be viewed as a tax on resource rents (i.e., on net income derived from the use of a resource) or as royalties or access fees to a resource. The Icelandic Fishery Management Act requires that vessel owners pay a resource rental in the form of the â€œcatch feeâ€ (veidigjald), which is one of the first attempts to explicitly use resource rent generated in fisheries as a base for government revenue. This paper first discusses the legislative activity leading up to the introduction of the catch fee, followed by a discussion of how the Fishery Management Act defines the fee. Then, the effect of using a quota-lease-charge rule is discussed and finally there is an evaluation of whether the catch fee is high enough.
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Bibliographic InfoArticle provided by Marine Resources Foundation in its journal Marine Resource Economics.
Volume (Year): 23 (2008)
Issue (Month): 1 ()
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Web page: http://www.uri.edu/cels/enre/mre/mre.htm
Resource rentals; catch fee; ITQs; Icelandic fishery management; Environmental Economics and Policy; Institutional and Behavioral Economics; International Relations/Trade; D33; D63; H21; Q22; Q28;
Find related papers by JEL classification:
- D33 - Microeconomics - - Distribution - - - Factor Income Distribution
- D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
- H21 - Public Economics - - Taxation, Subsidies, and Revenue - - - Efficiency; Optimal Taxation
- Q22 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Fishery
- Q28 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Government Policy
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.:
- Kerr, Suzi & Sanchirico, James & Newell, Richard, 2002.
"Fishing Quota Markets,"
dp-02-20, Resources For the Future.
- Heaps, Terry & Helliwell, John F., 1985. "The taxation of natural resources," Handbook of Public Economics, in: A. J. Auerbach & M. Feldstein (ed.), Handbook of Public Economics, edition 1, volume 1, chapter 8, pages 421-472 Elsevier.
- Jean Hindriks & Gareth D. Myles, 2006. "Intermediate Public Economics," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262083442, June.
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