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Using Market Mechanisms to Manage Fisheries

Smoothing the Path

Using Market Mechanisms to Manage Fisheries by OECD Publishing
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Why aren’t market mechanisms more widely used to manage fisheries in OECD countries? Despite the demonstrated benefits from instruments such as transferable access rights and individual transferable quotas, there remains some resistance to their further use in many OECD countries. Such resistance stems largely from a lack of information about the potential benefits and costs of introducing market mechanisms. There is also uncertainty about the available strategies for overcoming technical, institutional and political issues in the design and implementation of market mechanisms.

The purpose of this study is to help demystify the concept of market-like instruments and to help policy makers make better use of market-like instruments in fisheries management. The findings of the study are based on a survey of the use of market-like instruments in OECD fisheries in which the key characteristics of these instruments in different countries are identified. A key outcome of the survey is the recognition that a range of market-like instruments are, in fact, widely used in managing fisheries in OECD countries. This has generally improved the economic efficiency of the sector, and helped to ensure the sustainability of fish stocks.

One of the key benefits to policy makers from this study is the identification of practical steps that can be taken to address the range of challenging obstacles to the further use of market-like instruments. This will help policy makers in identifying strategies that may help smooth the path towards the wider use of market mechanisms in fisheries management in the OECD.

Organisation for Economic Co-operation and Development; April 2006
324 pages; ISBN 9789264036581
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Title: Using Market Mechanisms to Manage Fisheries
Author: OECD Publishing