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The Sunken Billions Revisited

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  • World Bank

Abstract

Global marine fisheries are in crisis: 90 percent are fully fished and overfished. The result is lost economic benefits of approximately $83 billion a year ---the “sunken billions” of the title. Reducing overfishing would allow severely overexploited fish stocks to recover over time. Subsequently, the combination of larger fish stocks and reduced but sustainable fishing activities would lead to higher economic yields. However, to reach that equilibrium, comprehensive and coordinated reforms are necessary. The Sunken Billions Revisited: Progress and Challenges in Global Marine Fisheries builds on The Sunken Billions: The Economic Justification for Fisheries Reform, a 2009 study published by the World Bank and Food and Agriculture Organization of the United Nations, but with a deeper regional analysis.

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  • World Bank, 2017. "The Sunken Billions Revisited," World Bank Publications - Books, The World Bank Group, number 24056.
    • Handle: RePEc:wbk:wbpubs:24056
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    File URL: https://openknowledge.worldbank.org/bitstream/handle/10986/24056/9781464809194.pdf?sequence=8
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    1. World Bank & Food and Agriculture Organization, 2009. "The Sunken Billions : The Economic Justification for Fisheries Reform," World Bank Publications - Books, The World Bank Group, number 2596.
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    Cited by:

    1. Nils-Arne Ekerhovd & Daniel V. Gordon, 2020. "Profitability, Capacity and Productivity Trends in an Evolving Rights Based Fishery: The Norwegian Purse Seine Fishery," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 77(3), pages 565-591, November.
    2. Delzeit, Ruth & Heimann, Tobias & Schünemann, Franziska & Söder, Mareike, 2021. "Scenarios for an impact assessment of global bioeconomy strategies: Results from a co-design process," Kiel Working Papers 2188, Kiel Institute for the World Economy (IfW Kiel).
    3. Ila France Porcher & Brian W. Darvell, 2022. "Shark Fishing vs. Conservation: Analysis and Synthesis," Sustainability, MDPI, vol. 14(15), pages 1-33, August.
    4. Hammarlund, Cecilia & Andersson, Anna, 2019. "What’s in it for Africa? European Union fishing access agreements and fishery exports from developing countries," World Development, Elsevier, vol. 113(C), pages 172-185.
    5. Kristen Hopewell, 2022. "Emerging Powers, Leadership, and South–South Solidarity: The Battle Over Special and Differential Treatment at the WTO," Global Policy, London School of Economics and Political Science, vol. 13(4), pages 469-482, September.
    6. -, 2020. "The outlook for oceans, seas and marine resources in Latin America and the Caribbean: Conservation, sustainable development and climate change mitigation," Documentos de Proyectos 46509, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    7. Eric Nævdal, 2022. "Productivity and Management of Renewable Resources: Why More Efficient Fishing Fleets Should Fish Less," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 81(3), pages 409-424, March.
    8. Tim Cashion & Santiago de la Puente & Dyhia Belhabib & Daniel Pauly & Dirk Zeller & U Rashid Sumaila, 2018. "Establishing company level fishing revenue and profit losses from fisheries: A bottom-up approach," PLOS ONE, Public Library of Science, vol. 13(11), pages 1-20, November.
    9. Raj M Desai & George E Shambaugh, 2021. "Measuring the global impact of destructive and illegal fishing on maritime piracy: A spatial analysis," PLOS ONE, Public Library of Science, vol. 16(2), pages 1-17, February.

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