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A Critical Review of the Fisheries Policy: Total Allowable Catches and Rations for Cod in the North Sea

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Author Info
Frank Jensen () (Institute of Local Government Studies, Denmark)

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Abstract

A purpose of this paper is to give a critical review of the total allowable catch (TAC) policy within the European Union (the EU) for cod in the North Sea. The actual TACs are compared with the biological recommendations about the TAC and the bio-economic optimal TAC. It is shown that the actual TAC follows biological recommendations but that bio-economic principles are poorly reflected in the TAC. The Danish regulatory policy for cod in the North Sea (rations) is analysed by means of a bio-economic model. It is shown that the information requirements needed for conducting a bio-economic optimal allocation of rations are considerable. Furthermore, the actual allocation scheme for rations distribute too high a share of the EU determined Danish quota to small vessels. Taxes and individual transferable quotas (ITQs) combined with bio-economic optimal TACs is presented as an alternative to the existing policy.

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File URL: http://www.sdu.dk/~/media/Files/Om_SDU/Institutter/Miljo/ime/wp/Jensen16.ashx
File Format: application/pdf
File Function: First version, 2001-03
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Publisher Info
Paper provided by University of Southern Denmark, Department of Environmental and Business Economics in its series Working Papers with number 16/01.

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Length: 48 pages
Date of creation: Mar 2001
Date of revision:
Handle: RePEc:sdk:wpaper:16

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Related research
Keywords: Cod in the North Sea; Total Allowable Catches; Rations; Taxes and Individual Transferable Quotas;

References listed on IDEAS
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  1. Copes, Parzival, 1972. "Factor Rents, Sole Ownership and the Optimum Level of Fisheries Exploitation," The Manchester School of Economic & Social Studies, Blackwell Publishing, vol. 40(2), pages 145-63, June.
  2. Carsten Lynge Jensen, 1999. "A Critical Review of the Common Fisheries Policy," Working Papers 6/99, University of Southern Denmark, Department of Environmental and Business Economics. [Downloadable!]
  3. Waugh, G & Calvo, P, 1974. "Economics of Exhaustible Resources: The Fishery," The Economic Record, The Economic Society of Australia, vol. 50(131), pages 423-29, September.
  4. Sandal, Leif K. & Steinshamn, Stein I., 1997. "Optimal Steady States And The Effects Of Discounting," Marine Resource Economics, Marine Resources Foundation, vol. 12(2). [Downloadable!]
  5. Dasgupta, Partha & Hammond, Peter & Maskin, Eric, 1980. "On Imperfect Information and Optimal Pollution Control," Review of Economic Studies, Blackwell Publishing, vol. 47(5), pages 857-60, October. [Downloadable!] (restricted)
  6. Clark, Colin W & Clarke, Frank H & Munro, Gordon R, 1979. "The Optimal Exploitation of Renewable Resource Stocks: Problems of Irreversible Investment," Econometrica, Econometric Society, vol. 47(1), pages 25-47, January. [Downloadable!] (restricted)
  7. Frank Jensen & Niels Vestergaard, 1999. "Regulation of Renewable Resources in Federal Systems: The Case of Fishery in th EU," Working Papers 3/99, University of Southern Denmark, Department of Environmental and Business Economics. [Downloadable!]
  8. Andersen, Peder & Sutinen, Jon G., 1984. "Stochastic Bioeconomics: A Review of Basic Methods and Results," Marine Resource Economics, Marine Resources Foundation, vol. 1(2). [Downloadable!]
  9. Levhari, David & Michener, Ron & Mirman, Leonard J, 1981. "Dynamic Programming Models of Fishing: Competition," American Economic Review, American Economic Association, vol. 71(4), pages 649-61, September. [Downloadable!] (restricted)
  10. Spence, A Michael & Starrett, David, 1975. "Most Rapid Approach Paths in Accumulation Problems," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 16(2), pages 388-403, June. [Downloadable!] (restricted)
  11. Squires, Dale, 1987. "Fishing effort: Its testing, specification, and internal structure in fisheries economics and management," Journal of Environmental Economics and Management, Elsevier, vol. 14(3), pages 268-282, September. [Downloadable!] (restricted)
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