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Methods for Environmental and Economic Accounting for the Exploitation of Wild Fish Stocks and their Applications to the Case of Icelandic Fisheries

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Abstract.

The paper discusses methods for estimating the value of commercially exploited fish stocks and the cost of exploiting them. Methods which are recommended in the System of National Accounting (SNA) satellite system and the System for Integrated Environmental and Economic Accounting (SEEA) and relevant for this task are discussed. The paper questions the relevance of some of these methods. It argues for the integration of economic accounting for wild fish stocks with estimation of efficient management of them. Using biological and economic data makes it possible to produce consistent estimates of the value of fish stocks and the cost of exploiting them. These estimates are useful for national accounting and for guiding management of fisheries. This method allows estimation of the cost of inefficiency of fisheries management besides estimation of the cost of depletion. The different methods are illustrated using data on commercial fisheries in Iceland and the fish stocks that they exploit. It is shown that even if all methods are based on market valuation and use only objective data they lead to very different outcomes.

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  1. Economics Department, Central Bank of Iceland, Kalkofnsvegur 1, 150, Reykjavik, Iceland

    Ásgeir Daníelsson

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  1. Ásgeir Daníelsson
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Correspondence to Ásgeir Daníelsson.

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Daníelsson, Á. Methods for Environmental and Economic Accounting for the Exploitation of Wild Fish Stocks and their Applications to the Case of Icelandic Fisheries. Environ Resource Econ 31, 405–430 (2005). https://doi.org/10.1007/s10640-005-2176-5

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