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In demystifying the concept of market-like instruments, this study explains how to make better use of market-like instruments in fisheries management by identifying practical steps that can be taken to further their use. The findings of the study are based on a survey of the use of market-like instruments in OECD fisheries in which the key characteristics of these instruments in different countries are identified. It finds that market-like instruments have generally improved the economic efficiency of the sector, and have helped to ensure the sustainability of fish stocks.--Publisher's description.

OECD governments pay out around 6 billion USD a year to support the fisheries sector. Some of this expenditure is provided to help ensure the effective management of fisheries through the provision of research, administrative and enforcement services. However, its effects on economic profitability and resource sustainability are open to debate. Such support has often been linked to over-fishing and over-capitalization, and its reform may lead to improved economic, environmental and social outcomes. This report analyzes the impacts of such transfers from a sustainable development perspective by addressing the economic, environmental and social dimensions of financial transfers. Through this focus, this study aims to deepen policymakers'understanding of the complex issues at play in the fisheries sector, a sector that is characterized by ongoing concerns regarding economic profitability, community resilience, and resource sustainability.--Publisher summary.