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Valuing Fisheries Depreciation in Natural Resource Accounting: The Pelagic Fisheries in Northeast Peninsular Malaysia

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  • Shzee Tai
  • Kusairi Noh
  • Nik Abdullah
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    Abstract

    In this paper, an approach based onthe net present value method is used to account forthe changes in the value of fisheries resources. Changes in the value of fisheries resources can occurbetween successive years' catch as well as betweencurrent and optimal levels of catch. These changesneed to be accounted for in the national accountingsystem to reflect the `true' net national income thatis sustainable. The approach outlined in this paper isdesirable as it allows the estimation of thedepreciation value of fisheries resource with limitedbiological information. The application of theapproach to the pelagic fisheries in NortheastPeninsular Malaysia (NEPM) showed that the resourcedepreciated in value over most years from 1982 to1993. These depreciations correspond to increasedfishing effort. In addition, pelagic catches in NEPMfrom 1982 to 1993 were lower than the optimal levelsof catch due to overfishing. Thus policies aimed atreducing fishing effort can provide improvement inboth the potentially higher capital values of thefishery resource and the earning potentials of thefishing industry in NEPM. Copyright Kluwer Academic Publishers 2000

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    File URL: http://hdl.handle.net/10.1023/A:1008352730330
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    Bibliographic Info

    Article provided by European Association of Environmental and Resource Economists in its journal Environmental and Resource Economics.

    Volume (Year): 15 (2000)
    Issue (Month): 3 (March)
    Pages: 227-241

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    Handle: RePEc:kap:enreec:v:15:y:2000:i:3:p:227-241

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    Web page: http://www.springerlink.com/link.asp?id=100263

    Related research

    Keywords: depreciation; fisheries resource accounting; optimal catch; pelagic fishery; present value;

    References

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    1. Tom Crowards, 1996. "Natural resource accounting," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 7(3), pages 213-241, April.
    2. Hartwick, John M., 1991. "Degradation of environmental capital and national accounting procedures," European Economic Review, Elsevier, vol. 35(2-3), pages 642-649, April.
    3. John M. Hartwick, 1990. "Natural Resources, National Accounting and Economic Depreciation," Working Papers 771, Queen's University, Department of Economics.
    4. Karl-Göran Mäler, 1991. "National accounts and environmental resources," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 1(1), pages 1-15, March.
    5. Clark, Colin W. & Munro, Gordon R., 1975. "The economics of fishing and modern capital theory: A simplified approach," Journal of Environmental Economics and Management, Elsevier, vol. 2(2), pages 92-106, December.
    6. Landefeld, J Steven & Hines, James R, 1985. "National Accounting for Non-renewable Natural Resources in the Mining Industries," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 31(1), pages 1-20, March.
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    Cited by:
    1. Harris, Michael & Fraser, Iain, 2001. "Natural Resource Accounting in Theory and Practive: A Critical Assessment," 2002 Conference (46th), February 13-15, 2002, Canberra 125106, Australian Agricultural and Resource Economics Society.
    2. Jin, Di & Hoagland, Porter & Morin Dalton, Tracey, 2003. "Linking economic and ecological models for a marine ecosystem," Ecological Economics, Elsevier, vol. 46(3), pages 367-385, October.

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