Unmanaged and poorly managed fisheries are overexploited to the point where all resource rent has been dissipated(2). Since resource rent represents the wealth that the fishery can generate, and hence indicates the potential of the fishery to contribute to economic and social goals, there is a need for improved management with resource rent specifically targeted. Management authorities are faced with two broad problems. First, they must develop management instruments that enable resource rents to be generated on a sustainable basis. Second, they must establish fiscal arrangements that enable the resource rents generated to be shared between stakeholders, including government, in an appropriate way.
Tim Bostock (SIFAR), Stephen Cunningham, Arthur Neiland, and Elizabeth Bennett (IDDRA)