Vinsamlegast notið þetta auðkenni þegar þið vitnið til verksins eða tengið í það: http://hdl.handle.net/1946/10379
Capitalization of fishing industry thorugh quota markets
The thesis is aimed to answer the question, how a fishing quota system can facilitate capitalization of a fishing industry and be used to finance new shipbuilding in the fishing industry. The main hypothesis is that the fishing quota system is an effective instrument to increase effectiveness of the fishing industry, but due to natural limitations rooted in the nature of fishing quotas they are of limited liquidity as financial asset and highly vulnerable to political and economic volatility. A fishing quota sets limits to NPV of a fishing company both in time and value, but in its capacity constitutes a crucial part of financial guarantees for renovation of the fishing fleet.
The topic of the thesis is of particular relevance in the view of the current debates about future of the Icelandic system of fishery management. Recommendations made of the basis of this research are believed to be useful in the policy making process as well as for fishermen community in Russia expecting changes due to the end of quota allocation period in 2018 and a recently launched campaign to encourage building of fishing vessels on Russian yards supported by the Russian Government.