Green Accounting for a Commercial Fishery

Abstract

The theory of extensions to the national accounts is expressed in models in which wealth is being explicitly maximized. For the fishery, the central issue is such valuation when the policy being followed is inefficient. We begin the task of making such valuations for commercial products of a fishery. Capacity is limited by investment in fishing boats. Therefore, depreciation of the boats has to be evaluated as well as depletion of the fish stock. Depletion of a non-optimal fishery can be evaluated, and is always greater than depletion of an optimal fishery. Statistical requirements are found and examples are given on how to apply them.