Indicators of the effectiveness of quota markets: The South East Trawl Fishery of Australia

This paper presents some results of an investigation into potential indicators for the assessment of markets for individual transferable fishing quota where price data do not exist. The economic logic for implementing such markets and how they are expected to work is used as a basis for asking questions about how well they are performing, and what might comprise evidence of problems. Given data on quota ownership, transfer and leasing, and associated catches, but no quota price data, indicators are suggested for monitoring and analysing market activity. These are applied to data from the Australian South East Trawl Fishery. Results are discussed in terms of the utility of the methods and the implications for management policy for the fishery.