Resource information
The release of 'Sunken billions:
The economic justification for fisheries reform' has
drawn renewed attention to the enormous loss of wealth
suffered in fisheries each year due to weak fisheries
governance and the need for fundamental fisheries reform.
Such reform calls for addressing the issues plaguing the
world's fisheries, such as persistent overfishing and
fleet overcapitalization, and addressing the political
economy challenges of developing country-specific pathways
of reform. Despite growing evidence of success in selected
fisheries, less than two percent of the world's
fisheries have actually undergone effective reform because
of these challenges. At the same time, it is estimated that
the world's fisheries could generate at least fifty
billion US dollars per annum and the economic benefits
generated could be much higher if management systems were
established to enable investment in growing this important
economic sector in a sustainable manner. The potential
pay-off from economic fisheries reform is not only globally
significant for the sector, it is crucial for enhancing
economic growth and alleviating poverty in developing
countries with significant fisheries assets. This report
seeks to move this debate forward by discussing key lessons
drawn from reform experience in the wider natural resource
sector that might inform successful reform in fisheries.
