Informe Técnico de Consultoría ASPECTOS CONCEPTUALES Y ...

AUTOR (ES):Kerr, Suzi; Newell, Richard; Sanchirico, JimTITULOEvaluating The New Zealand Individual Transferable QuotaMarket For Fisheries ManagementAÑO 2003REFERENCIAMotu Economic and Public Policy Research Trust. WorkingBIBLIOGRAFICA Paper # 2003-02IDIOMAInglés.PALABRAS CLAVESRESUMENDIRECCIÓN DE ACCESOELECTRÓNICOThe New Zealand ITQ system is a dynamic institution thathas had many refinements since its inception more than 15years ago. Nonetheless, the basic tenets of the system -setting a total allowable catch and leaving the market todetermine the most profitable allocation of fishing effort -have remained intact.This paper assesses the New Zealand system to identifyareas of success and/or possible improvement or expansionwithin it. The reasons for doing so are to highlight beneficialfeatures and to identify features of the New Zealand ITQsystem that are relevant to other potential tradable permitmarkets.Beneficial features include simple standardized rules forquota definition and trading across species and areas; veryfew restrictions on quota trading and holding; relativestability in the rules over time; and low levels of governmentinvolvement in the trading process.We find evidence that supports the assertion that fishersbehave in a reasonably rational fashion and that the marketsare relatively efficient. We do not find major changes inparticipation in these fisheries as a result of the system. Wefind evidence that suggests that the ITQ system is improvingthe profitability of fisheries in New Zealand. In general theevidence thus far suggests that the market is operating in areasonably efficient manner and is providing significanteconomic gains.These factors suggest that New Zealand would want to havenon-economic justifications for any significant changes tothe system.A-40