TY - JOUR
T1 - Evaluation of the chilean jack mackerel ITQ system
AU - Kroetz, Kailin
AU - Sanchirico, James N.
AU - Peña-Torres, Julio
AU - Novoa, David Corderi
N1 - Funding Information:
Funding for this research was provided by the Inter-American Development Bank under the Economic Sector Work RG- K1350 Evaluation of Market-Based Fisheries Policies in Latin America. Funding was also provided by Resources for the Future. The views and opinions expressed herein are the authors’ own and do not necessarily reflect those of the Inter-American Development Bank, Resources for the Future, or the University of California, Davis.
Funding Information:
Funding for this research was provided by the Inter-American Development Bank under the Economic Sector Work RG– K1350 Evaluation of Market-Based Fisheries Policies in Latin America. Funding was also provided by Resources for the Future. The views and opinions expressed herein are the authors’ own and do not necessarily reflect those of the Inter-American Development Bank, Resources for the Future, or the University of California, Davis.
Publisher Copyright:
© 2017 MRE Foundation, Inc. All rights reserved.
PY - 2017/4
Y1 - 2017/4
N2 - The debate in commercial fishery management has evolved from whether well-defined rights are necessary for sustainability to measuring the impacts of different rights-based system designs. Most assessments are on developed world fisheries. Using a unique collection of datasets, we develop counterfactuals to evaluate the economic impacts of the Chilean jack mackerel catch share program. We investigate vessel and trip characteristics, as well as trip costs and revenues, before and after the implementation of the program. We find an increase in higher value products and associated revenue, as well as consolidation of catch on larger vessels, vessels taking longer trips, and those catching more per trip. Overall, we estimate that the program led to a measureable increase in fishing profits, mainly due to movement toward higher-value products. A back-of-the-envelope calculation results in an implied annual quota rental rate on the order of approximately 15-19%of ex-vessel prices.
AB - The debate in commercial fishery management has evolved from whether well-defined rights are necessary for sustainability to measuring the impacts of different rights-based system designs. Most assessments are on developed world fisheries. Using a unique collection of datasets, we develop counterfactuals to evaluate the economic impacts of the Chilean jack mackerel catch share program. We investigate vessel and trip characteristics, as well as trip costs and revenues, before and after the implementation of the program. We find an increase in higher value products and associated revenue, as well as consolidation of catch on larger vessels, vessels taking longer trips, and those catching more per trip. Overall, we estimate that the program led to a measureable increase in fishing profits, mainly due to movement toward higher-value products. A back-of-the-envelope calculation results in an implied annual quota rental rate on the order of approximately 15-19%of ex-vessel prices.
KW - Catch shares
KW - Chile
KW - Individual transferrable quotas (ITQs)
KW - Jack mackerel
UR - http://www.scopus.com/inward/record.url?scp=85041673216&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=85041673216&partnerID=8YFLogxK
U2 - 10.1086/690771
DO - 10.1086/690771
M3 - Article
AN - SCOPUS:85041673216
SN - 0738-1360
VL - 32
SP - 217
EP - 241
JO - Marine Resource Economics
JF - Marine Resource Economics
IS - 2
ER -