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Can Catch Shares Prevent Fisheries Collapse?

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  • Recent reports of fishery collapse paint a gloomy picture of the ocean's future; perhaps 100% of fisheries from the world's large marine ecosystems (LMEs) will be collapsed in just 40 years. While poor fisheries governance is now widely regarded as the cause, bioeconomic theory and anecdotal evidence suggest that rights-based dedicated access privileges (DAPs) can provide individual incentives for sustainable, profitable harvest which is less prone to collapse. We compile a database of fisheries institutions for all 11,218 fisheries in LMEs from 1950 to 2003 and match it with FAO catch statistics for the same fisheries over the same time period. Numerous models increasing in statistical rigor allow us to control for temporal effects, selection effects of DAPs, ecosystem effects, and even species and genus effects. We find that introducing a DAP reduces the probability of collapse by about 7 percentage points, a substantial reduction given that by 2003 about 27% of fisheries were collapsed. Perhaps even more significantly, we find that introducing a DAP does not just slow collapse, it reverses it. The estimated annual reduction in probability of collapse ranges from 0.21 to 0.41 percentage points.
  • KEYWORDS: Bioeconomic theory, Fishery collapse, Large marine ecosystems, Fisheries governance, Fisheries economics, Dedicated access privileges, Catch shares
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  • Costello, Chris, Steve Gaines and John Lynham. 2008. Can Catch Shares Prevent Fisheries Collapse? In: Proceedings of the Fourteenth Biennial Conference of the International Institute of Fisheries Economics & Trade, July 22-25, 2008, Nha Trang, Vietnam: Achieving a Sustainable Future: Managing Aquaculture, Fishing, Trade and Development. Compiled by Ann L. Shriver. International Institute of Fisheries Economics & Trade, Corvallis, Oregon, USA, 2008.
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  • US National Oceanic and Atmospheric Administration (NOAA) Fisheries Division, The Department of Fisheries and Oceans, Canada; Aquaculture CRSP and AquaFish CRSP; Minh Phu Seafood Corporation; Vietnam Datacommunication Company (VDC); Camau Frozen Seafood Processing Import Export Corporation (Camimex); Long Sinh Limited Company; Mai Linh Group and Nam Viet Corporation.
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