|Abstract or Summary
- There is increasing recognition that the oceans of the world support a wide range of economic sectors. Managing those multiple uses, within a ‘commons’ environment, is undoubtedly challenging. Approaches of ecosystem-based management (EBM), integrated ocean management (IOM) and marine spatial planning (MSP), with associated aspects of spatial allocation and conflict resolution, are rapidly expanding in marine policy and practice across much of the world. These seek to deal effectively with the complex interactions in marine systems, and to achieve the balance that is inherent in sustainable development between present-day socioeconomic benefits and the ecosystem health and ecosystem services needed to ensure that future generations can produce their own socioeconomic benefits. This presentation explores the economic implications of these integrated governance approaches, and their relationship with fisheries management, including the potential for synergies or of overlap between multi-sectoral and single-sector planning and decision making. In particular, the presentation examines: (a) the need to deal with issues of boundaries, scope and scale, (b) instruments and institutions, including ocean zoning, rights-based approaches, and governance institutions, and (c) the role of economics in design and implementation of multi-sectoral ocean management, including matters of values, valuation, incentives and institutional economics.