Property System, The Sustainable Use Of Fisheries Resources

Fishery resource is one of the most important parts of the natural resources, and fishery industry is one of the most important parts of the national economy. But for a long time there is a trend of ignoring the basic law of fishery economy, which leads to the absence of an efficient management on fishery. As a result over fishing becomes a common phenomenon, which will have a bad effect on the sustainable development of the fishery resource. The main reason for the over fishing problem is the absence of clear defined property rights on fishery resources, which makes the development of fishery into an over competitive and devastating one.The managers have noticed the problem and enforced a set of policies mostly focused on the restrains of the inputs. As they still cannot solve the fundamental problem of property rights, they have little benefit. The individual transferable quota regimes based on the property rights perspective is widely used all over the world recently. But there are disputes about their applicability and limitation. The fishery in our country has some characteristics that provide some disadvantages for the enforcement of the individual transferable quotas system. But to value a property regime we need to take the full cost and benefit of designing and implementing into account, and compare the efficiency with its alternatives. Through our analysis and comparison we find that the individual transferable quotas regime can realize more benefits, lower transaction cost and better protection on resource stock in many conditions in the long run. The most important issue of this policy is the equity and efficiency faced in the distribution of the quotas.Any policy has its own applicability. According to the complication of the reality the policy must be more flexible. The success of a policy depends on a general compliance of the participants involved. The design of the policy should not make their economic conditions worse than before.