Comparison of individual transferable quota in New Zealand and individual vessel quota in Norway

Abstract

Since the introduction of licenses and quotas as important management instruments, Norway has established a system of non-transferable IVQs. The “cod-crisis” was a reason for the Nor- wegian Parliament to reject an ITQ system with a high degree of transactions. However, since the late 80s the IVQ regime have forced towards a market-oriented regime for the expansion of the transferability. The overall aim of this work is to analyze the Norwegian IVQ and the New Zealand ITQ systems and discuss whether the effects of the IVQ system are in accordance with the original ITQ model or not. The thesis will focus on the following questions: 1. What are the similarities and the differences between the New Zealand ITQ regime and the Norwegian IVQ system? 2. How can the different systems be compared regarding results (biology, economy, and social aspects)? 3. Is the Norwegian IVQ system just a stage before a fully implemented ITQ system or is it a system in its own right?