1887

Using Market Mechanisms to Manage Fisheries

Smoothing the Path

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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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Executive Summary

Market-like instruments are widely used in managing fisheries in OECD countries. These instruments are based on defining access rights to fisheries resources and encompass both those administrative regulations that influence fishers’ incentives to race for fish and to overcapitalise, and a range of economic instruments based on market interplay.

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