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Maximising Value in Multi-species Fisheries
Abstract
This report examines how New Zealand has managed the complex task of
implementing an ITQ system, not just for a handful of high value species, but also for
literally dozens of interrelated species managed as hundreds of individual fish stocks.
The New Zealand QMS has thus developed in practice what many fishery economists
believe is impracticable.6 I explore the tools the New Zealand QMS employs to
implement this multi-species ITQ system, consider how this approach achieves the
goal of value maximisation in fisheries, and offer recommendations for how the
system might be further improved to better achieve this goal.
Citation
Newell, Richard G. 2004. "Maximising Value in Multi-species Fisheries," Resources for the Future, Washington DC and New Zealand Ministry for Fisheries, Wellington.
Motu code: MYS0075
JEL codes: