International Economics Commons^™

Bæredygtig Udnyttelse Af Fornybare Ressourcer: Torskefiskeriet Ved Færøerne, Niels Vestergaard

Niels Vestergaard

The Faroe Islands cod fishery is analyzed for the period 1985-1992. It is shown that an approximately optimal and implementable fishery policy based on sustainability have increased the gross national income in the fishery by about 20%. This loss is due to an inoptimal organization of the fishery during that period combined with a very low cod stock at the end of 1992, which means reduced future catch possibilities. that the fishing capacity could have been reduced by about 1/3. The policy of sustainability is applied to the current situation in the fishery, and it is shown that the current …