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Property rights in a fishery: regulatory change and firm performance

CollectionsANU Fenner School of Environment & Society
Title: Property rights in a fishery: regulatory change and firm performance
Author(s): Fox, Kevin J
Kirkley, James
Squires, Dale
Grafton, Quentin
Keywords: productivity
natural capital
index numbers
Date published: 2002
Publisher: Canberra, ACT: Centre for Resource and Environmental Studies (CRES), Institute of Advanced Studies, The Australian National University
Series/Report no.: Economics and Environment Network (EEN) Papers (The Australian National University): No. 0205
A new method is introduced and applied to analyze changes in productivity of firms harvesting a natural capital stock. The index-number technique decomposes the contributions of output prices, variable input prices, fixed inputs and productivity to firm profits, adjusted for changes in the natural capital stock. An application of the method is given using micro-level data from a common-pool resource. The indexes provide a ready-made comparison of all firms to the most profitable firm per unit of resource stock. Benchmarking with the decompositions also allowsfirms and regulators to determine what components are contributing most to economic profits and improve overall industry performance.
ISSN: 0095-0696


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