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OverviewRich with detail and provocatively argued, this study of the development of property rights in the world's fisheries tells the story of one industry's evolution and provides a useful illustration of the forces that shape economic institutions. The emergence of exclusive individual rights of access in the fishing industry began after the revolution in the international law of the sea that took place in the 1970s, when the offshore area controlled by a nation for fish and other resources expanded from 3 miles to 200 miles. Rgnvaldur Hannesson compares the subsequent development of private property rights in the fisheries to the historic enclosures and clearances of common land in England and Scotland and finds many parallels, including bitter fights over access rights and the impossibility of accommodating all those who want to stake a claim. Overall benefit to society in the form of increased efficiency, he points out, does not mean that all benefit equally. After tracing the development of the law of the sea since the sixteenth century, Hannesson considers what form property rights in fisheries might take and examines the forces behind the establishment of exclusive use rights to fish. He argues that one form of exclusive use rights, individual transferable quotas (ITQs), best promotes efficiency in the use of fish resources. He presents case studies of ITQ development, ranging from successful establishment in Canada and New Zealand to failures in Chile and Norway to experiments with ITQs in Iceland and the United States. The development of economic institutions, he concludes, is an evolutionary process subject to contradictory influences. Full Product DetailsAuthor: Rőgnvaldur Hannesson (Norwegian Sch of Econ/Business)Publisher: MIT Press Ltd Imprint: MIT Press Dimensions: Width: 15.20cm , Height: 1.20cm , Length: 22.90cm Weight: 0.454kg ISBN: 9780262083348ISBN 10: 0262083345 Pages: 224 Publication Date: 16 July 2004 Recommended Age: From 18 years Audience: Professional and scholarly , Professional & Vocational Format: Hardback Publisher's Status: Active Availability: Awaiting stock  The supplier is currently out of stock of this item. It will be ordered for you and placed on backorder. Once it does come back in stock, we will ship it out for you. Table of ContentsReviewsThe Privatization of the Oceans is a fascinating look into the early development of ITQs around the world and a great starting point for anyone interested in learning more about the evolution of private property rights in fisheries. - Stephanie Showalter, The SandBar Author InformationRognvaldur Hannesson is Professor of Fisheries Economics at the Norwegian School of Economics and Business Administration and Research Director at the Center for Fisheries Economics in Bergen, Norway. Tab Content 6Author Website:Countries AvailableAll regions |
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