Individual Transferable Share Quotas in Chilean Fisheries
By Rene Cerda-D'amico and Mauro Urbina VelizABSTRACT
The purpose of this presentation is: to outline main characteristics of the system; to examine the characteristics of the rigth; and to review some consecuences and impacts expost of the system. Given a set of objectives for implementin the ITQ system, this review will consider the evaluation of the auction prices for EFP as indicator of resource rent. Auction results indicates some level of concentration of EFPs which is also evaluated in comparison to other fisheries. On the other hand changes in the fleet capacity and effort and biomass evolution are also to be assesed and compared - in the case of fisheries in state of recovery - with previous performance of the fisheries under non-ITQ management. Intraannual fleet and effort dynamic and landings are to be described in relation to fluctuations of product market prices and also in connection with participation of the fleet in related fisheries. A final comment will be made on extending a sustantially modified ITQ system to other fisheries which is at present being in discussion. Despite the initiative has a good support the debate is focused on the first allocation, on distributional issues and on ideological reasons.
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