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The Management Of Internationally Shared Fish Stocks: A Law And Economics Approach

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Chapter Summary

The Food and Agriculture Organization of the United Nations (FAO) has declared that the management of internationally shared fish stocks stands as one of the great challenges in the attempt to achieve the goal of long-term sustainability of world capture fisheries. This chapter focuses on the management of the two most important categories of shared fish stocks, namely transboundary stocks and straddling stocks, broadly defined. The analysis of the management of these resources is seen as an exercise in Law and Economics, where international treaty law can be viewed as providing the framework within which the economic management of the resources is to take place. It is concluded that, unless the problem of unregulated fishing can be dealt with effectively, the threat posed by free riding will be chronic and could undermine the emerging regional fisheries management organizations (RFMO) regime.

Keywords: internationally shared fish stocks; regional fisheries management organizations (RFMO); straddling fish stocks; transboundary fish stocks



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