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Abstract

Excess capacity is a major concern for fisheries management worldwide. It is often argued that Individual Transferable Quota (ITQ) systems will enhance efficiency and alleviate problems of excess capacity. While improvements in efficiency have been observed, most empirical studies have found only modest changes in excess capacity as a result of such systems. Using a database of compulsory log-book information for the Tasmanian Rock Lobster Fishery in Australia, from January 2000 to December 2013, this study presents the first analysis to investigate the dynamic behaviour of both excess capacity and efficiency (i.e. technical and scale efficiency) in an industrialised fleet after the introduction of quota management. The analysis revealed weak evidence for a prolonged adjustment in the fishery following the introduction of an ITQ system. In addition, no marked changes in excess capacity were observed over the study period; and furthermore, there was no evidence for an increase in excess capacity during a period of non-binding Total Allowable Catch (TAC) when race to fish behaviour increased in the fishery. The results suggest a limited ability of the ITQ system to alleviate levels of excess capacity in fisheries in the long-term.

Item Type:	Article
Authors/Creators:	Rust, SA and Yamazaki, S and Jennings, S and Emery, T and Gardner, C
Keywords:	excess capacity, capacity utilisation, efficiency, quota management, individual transferable quota, jasus edwardsii
Journal or Publication Title:	Marine Policy
Publisher:	Elsevier B.V.
ISSN:	0308-597X
DOI / ID Number:	https://doi.org/10.1016/j.marpol.2016.11.020
Copyright Information:	Copyright 2016 Elsevier
Related URLs:	Google Scholar: Yamazaki, S UTAS Profile: Yamazaki, S Google Scholar: Jennings, S UTAS Profile: Jennings, S Google Scholar: Emery, T Google Scholar: Gardner, C UTAS Profile: Gardner, C
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