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Individual Fishing Quotas in Peru: Stopping the Race for Anchovies

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Abstract

In January 2009 a new management regime of individual vessel quotas (IVQs) was put in force in the world´s largest fishery, the Peruvian anchovy fishery. Until 2009, the fishery was managed by a regulated open access system with clear symptoms of the race for fish. We argue that the new regime has stopped the race for fish, reduced the number of vessels participating in the fishery and prolonged the fishing season. Furthermore, the IVQs appear to have improved profitability in the fishery and increased value-added production in the Peruvian anchovy value chains. This provides support that other developing countries can reap benefits of such management systems. However, there appears to have been setbacks in 2010 as the number of participating vessels has once again increased. This indicates that the institutions that regulate and monitor the fishery must be further strengthened.

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  • Sigbjorn Tveteras & Carlos Paredes & Julio Peña, 2011. "Individual Fishing Quotas in Peru: Stopping the Race for Anchovies," ILADES-UAH Working Papers inv263, Universidad Alberto Hurtado/School of Economics and Business.
    • Handle: RePEc:ila:ilades:inv263
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    2. Xu, Yi & Chai, Fei & Rose, Kenneth A. & Ñiquen C., Miguel & Chavez, Francisco P., 2013. "Environmental influences on the interannual variation and spatial distribution of Peruvian anchovy (Engraulis ringens) population dynamics from 1991 to 2007: A three-dimensional modeling study," Ecological Modelling, Elsevier, vol. 264(C), pages 64-82.
    3. Corbett A. Grainger & Christopher Costello, 2016. "Distributional Effects of the Transition to Property Rights for a Common-Pool Resource," Marine Resource Economics, University of Chicago Press, vol. 31(1), pages 1-26.
    4. Salgado, Hugo & Chávez, Carlos A. & Miller, Montserrat & Stranlund, John K., 2015. "ITQ markets with administrative costs: An application to the industrial common sardine and anchovy fishery in Chile," Marine Policy, Elsevier, vol. 62(C), pages 178-185.
    5. Christopher Hansman & Jonas Hjort & Gianmarco León, 2019. "Interlinked firms and the consequences of piecemeal regulation," Journal of the European Economic Association, European Economic Association, vol. 17(3), pages 876-916.
    6. Asche, Frank & Oglend, Atle, 2016. "The relationship between input-factor and output prices in commodity industries: The case of Norwegian salmon aquaculture," Journal of Commodity Markets, Elsevier, vol. 1(1), pages 35-47.
    7. Bauer, Dana Marie & Johnston, Robert J., 2013. "Foreword: The Economics of Rural and Agricultural Ecosystem Services: Purism versus Practicality," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 42(1), pages 1-13, April.
    8. Christopher Hansman & Jonas Hjort & Gianmarco León, 2015. "Firm's response and unintended health consequences of industrial regulations," Economics Working Papers 1469, Department of Economics and Business, Universitat Pompeu Fabra.
    9. Frank Wijen & Mireille Chiroleu-Assouline, 2019. "Controversy Over Voluntary Environmental Standards: A Socioeconomic Analysis of the Marine Stewardship Council," PSE-Ecole d'économie de Paris (Postprint) halshs-02071504, HAL.

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