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Using Market Mechanisms to Manage Fisheries

Smoothing the Path

image of Using Market Mechanisms to Manage Fisheries

In demystifying the concept of market-like instruments, this study explains how to make better use of market-like instruments in fisheries management by identifying practical steps that can be taken to further their use. 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. It finds that market-like instruments have generally improved the economic efficiency of the sector, and have helped to ensure the sustainability of fish stocks.

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Analysing the Use of Market Mechanisms in Fisheries

Two decades after the adoption of the United Nations Convention on the Law of the Sea (UNCLOS), the world’s fisheries remain an unfortunate example of the “tragedy of the commons” (Hardin, 1968) now affecting a number of global resources. Overexploitation, overcapacity and recurrent user-group conflicts are the signs of this tragedy’ in the fisheries sector.

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