IDEAS home Printed from https://ideas.repec.org/p/mtu/wpaper/07_02.html
   My bibliography  Save this paper

New Zealand's Quota Management System: A History of the First 20 Years

Author

Listed:
  • Kelly Lock

    (Motu Economic and Public Policy Research)

  • Stefan Leslie

    (New Zealand Ministry of Fisheries)

Abstract

New Zealand is a world leader in the use of Individual Transferable Quota (ITQ) to manage fisheries. Although the use of an ITQ system is not unique to New Zealand, no other country has used this system to the same extent as New Zealand. This has meant that, internationally, a lot of interest has been placed on how our system works and the level of success it has achieved. Generally, the New Zealand system is considered to be a success story, yet the system has changed a number of times since its inception in 1986. Despite the level of interest in New Zealand's unique ITQ system, the current literature is unable to provide a complete account of the historic and current regulations surrounding it. This paper addresses this gap by documenting how the Quota Management System (QMS) functions and the changes it has undergone since its introduction. Reviewing these changes facilitates a deeper understanding of the system itself, as well as providing insight into its potential limitations.

Suggested Citation

  • Kelly Lock & Stefan Leslie, 2007. "New Zealand's Quota Management System: A History of the First 20 Years," Working Papers 07_02, Motu Economic and Public Policy Research.
    • Handle: RePEc:mtu:wpaper:07_02
    as

    Download full text from publisher

    File URL: https://motu-www.motu.org.nz/wpapers/07_02.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Sanchirico, James N. & Holland, Daniel & Quigley, Kathryn & Fina, Mark, 2006. "Catch-quota balancing in multispecies individual fishing quotas," Marine Policy, Elsevier, vol. 30(6), pages 767-785, November.
    2. Newell, Richard G. & Sanchirico, James N. & Kerr, Suzi, 2005. "Fishing quota markets," Journal of Environmental Economics and Management, Elsevier, vol. 49(3), pages 437-462, May.
    3. Clark, Ian, 1993. "Individual transferable quotas: the New Zealand experience," Marine Policy, Elsevier, vol. 17(5), pages 340-342, September.
    4. Suzi Kerr & Richard Newell & Jim Sanchirico, 2003. "Evaluating the New Zealand Individual Transferable Quota Market for Fisheries Management," Others 0309004, University Library of Munich, Germany.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Sophal Chhun & Paul Thorsnes & Henrik Moller, 2013. "Preferences for Management of Near-Shore Marine Ecosystems: A Choice Experiment in New Zealand," Resources, MDPI, vol. 2(3), pages 1-33, September.
    2. Sophal Chhun & Viktoria Kahui & Henrik Moller & Paul Thorsnes, 2015. "Advancing Marine Policy Toward Ecosystem-Based Management by Eliciting Public Preferences," Marine Resource Economics, University of Chicago Press, vol. 30(3), pages 261-275.
    3. Paul Dalziel, 2011. "Schumpeter's 'Vision' and the Teaching of Principles of Economics to Resource Students," International Review of Economic Education, Economics Network, University of Bristol, vol. 10(2), pages 63-74.
    4. Kelly Lock & Suzi Kerr, 2008. "Nutrient Trading in Lake Rotorua: Choosing the Scope of a Nutrient Trading System," Working Papers 08_05, Motu Economic and Public Policy Research.
    5. Reimer, Matthew N. & Rogers, Anthony & Sanchirico, James, 2024. "Adaptive Systems for Climate-Ready Fisheries Management," RFF Working Paper Series 24-06, Resources for the Future.
    6. Bertolotti, María Isabel & Rotta, Lautaro Daniel & Baltar, Fabiola & Gualdoni, Patricia & Pagani, Andrea N., 2015. "Cuotas Individuales Transferibles de Captura en Argentina: política y desempeño," Nülan. Deposited Documents 3113, Universidad Nacional de Mar del Plata, Facultad de Ciencias Económicas y Sociales, Centro de Documentación.
    7. Suzi Kerr & Kelly Lock, 2010. "Improving Lake Water Quality Through a Nutrient Trading System: The Case of New Zealand’s Lake Rotorua," Chapters, in: Iris Claus & Norman Gemmell & Michelle Harding & David White (ed.), Tax Reform in Open Economies, chapter 11, Edward Elgar Publishing.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Aaron Hatcher, 2022. "A Model of Quota Prices in a Multispecies Fishery with “Choke” Species and Discarding," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 82(4), pages 825-846, August.
    2. Richard G. Newell & Kerry L. Papps & James N. Sanchirico, 2007. "Asset Pricing in Created Markets," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 89(2), pages 259-272.
    3. Holland, Daniel S. & Thunberg, Eric & Agar, Juan & Crosson, Scott & Demarest, Chad & Kasperski, Stephen & Perruso, Larry & Steiner, Erin & Stephen, Jessica & Strelcheck, Andy & Travis, Mike, 2015. "US catch share markets: a review of data availability and impediments to transparent markets," Marine Policy, Elsevier, vol. 57(C), pages 103-110.
    4. Holland, D.S., 2010. "Markets, pooling and insurance for managing bycatch in fisheries," Ecological Economics, Elsevier, vol. 70(1), pages 121-133, November.
    5. Asproudis, Elias & Filippiadis, Eleftherios, 2021. "Bargaining for Community Fishing Quotas," MPRA Paper 107409, University Library of Munich, Germany.
    6. Sovacool, Benjamin K., 2011. "The policy challenges of tradable credits: A critical review of eight markets," Energy Policy, Elsevier, vol. 39(2), pages 575-585, February.
    7. Oostdijk, Maartje & Santos, Maria J. & Agnarsson, Sveinn & Woods, Pamela J., 2019. "Structure and evolution of cod quota market networks in Iceland over times of financial volatility," Ecological Economics, Elsevier, vol. 159(C), pages 279-290.
    8. Torkington, Barry, 2016. "New Zealand׳s quota management system – incoherent and conflicted," Marine Policy, Elsevier, vol. 63(C), pages 180-183.
    9. Kailin Kroetz & James N. Sanchirico & Daniel K. Lew, 2015. "Efficiency Costs of Social Objectives in Tradable Permit Programs," Journal of the Association of Environmental and Resource Economists, University of Chicago Press, vol. 2(3), pages 339-366.
    10. Newell, Richard G. & Papps, Kerry L. & Sanchirico, James N., 2005. "Asset Pricing in Created Markets for Fishing Quotas," Discussion Papers 10639, Resources for the Future.
    11. Keisaku Higashida & Yasuhiro Takarada, 2011. "On Efficiency of Individual Transferable Quotas (ITQs) through Reduction of Vessels," Discussion Paper Series 68, School of Economics, Kwansei Gakuin University, revised Jan 2011.
    12. repec:ags:aaea22:335749 is not listed on IDEAS
    13. Robert N. Stavins, 2011. "The Problem of the Commons: Still Unsettled after 100 Years," American Economic Review, American Economic Association, vol. 101(1), pages 81-108, February.
    14. Ropicki, Andrew & Larkin, Sherry, 2015. "Implied Discount Rates in the Gulf of Mexico Commercial Red Snapper IFQ Program," 2015 AAEA & WAEA Joint Annual Meeting, July 26-28, San Francisco, California 205711, Agricultural and Applied Economics Association.
    15. Singh, Rajesh & Weninger, Quinn, 2012. "Harvesting uncertainty and discards in multiple-species fisheries," Staff General Research Papers Archive 35428, Iowa State University, Department of Economics.
    16. Singh, Rajesh & Weninger, Quinn, 2017. "Quota flexibility in multi-species fisheries," ISU General Staff Papers 201707260700001026, Iowa State University, Department of Economics.
    17. Weninger, Quinn, 2008. "Individual Fishing Quotas in the Eastern Gulf of Mexico Grouper Fishery: Fleet Restructuring, Effort Reduction and Cost Savings," Staff General Research Papers Archive 12890, Iowa State University, Department of Economics.
    18. Grainger, Corbett A. & Costello, Christopher J., 2014. "Capitalizing property rights insecurity in natural resource assets," Journal of Environmental Economics and Management, Elsevier, vol. 67(2), pages 224-240.
    19. Fan, Wenbo & Jiang, Xinguo, 2013. "Tradable mobility permits in roadway capacity allocation: Review and appraisal," Transport Policy, Elsevier, vol. 30(C), pages 132-142.
    20. Anderson, Christopher M. & Sutinen, Jon G., 2006. "The effect of initial lease periods on price discovery in laboratory tradable fishing allowance markets," Journal of Economic Behavior & Organization, Elsevier, vol. 61(2), pages 164-180, October.
    21. Stefano Carattini & Eli P. Fenichel & Alexander Gordan & Patrick Gourley, 2020. "For want of a chair: Teaching price formation using a cap and trade game," The Journal of Economic Education, Taylor & Francis Journals, vol. 51(1), pages 52-66, January.

    More about this item

    Keywords

    Quota management system; individual transferable quota; fisheries; management; New Zealand;
    All these keywords.

    JEL classification:

    • Q22 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Fishery
    • Q28 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Government Policy

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:mtu:wpaper:07_02. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Maxine Watene (email available below). General contact details of provider: https://edirc.repec.org/data/motuenz.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.