Cover -- Title Page -- Contents -- Agriculture and Rural Development -- Acknowledgments -- About the Authors -- Acronyms and Abbreviations -- Executive Summary -- The State of Marine Fish Stocks and Fisheries -- The Estimate of the "Sunken Billions" -- Capturing the Sunken Billions -- The Costs of Reform -- The Biological and Economic Health of Fisheries -- Net Benefits and Tenure -- Recommendations -- CHAPTER 1 Global Trends in Fisheries -- 1.1 Introduction -- 1.1.1 Purpose and Outcomes of the Study -- 1.1.2 Structure of the Study -- 1.2 The Deteriorating State of The Marine Fishery Resources -- 1.3 Profile and Trends in Global Fisheries Production -- 1.4 Trade and Fish Consumption -- CHAPTER 2 The Economic Performance of World Marine Capture Fisheries -- Introduction -- 2.1 Value of Production and Global Fish Prices -- 2.1.1 Ex-vessel Prices -- 2.1.2 Export Prices -- 2.1.3 Value of Intangibles -- 2.2 Fishing Costs and Productivity -- 2.2.1 Fuel Prices and Productivity -- 2.2.2 Trends in Employment, Labor Productivity, and Fishing Incomes -- 2.3 Fishing Effort and Fishing Fleets -- 2.3.1 Development in the Global Fishing Fleet -- 2.3.2 Development in Fishing Capacity and Fleet Productivity -- 2.3.3 The Effects of Changing Fuel and Food Prices -- 2.4 Subsidies -- 2.5 The Costs of Fishery Management -- 2.5.1 Costs Associated with Illegal, Unreported, and Unregistered Fishing -- Notes -- CHAPTER 3 Estimate of Net Economic Loss in the Global Marine Fishery -- 3.1 Background -- 3.2 Use of the Terms Net Benefits and Economic Rents -- 3.3 Description of the Aggregate Model -- 3.3.1 Schaefer and Fox Models -- 3.4 Model Parameters and Data -- 3.4.1 Global Maximum Sustainable Yield and Carrying Capacity -- 3.4.2 Biomass Growth in the Base Year -- 3.4.3 Volume of Landings in the Base Year and Reported and Real Marine Fisheries Catches.

3.4.4 Value of Landings in the Base Year -- 3.4.5 Harvesting Costs -- Cost of fuel -- Cost of labor -- Costs of other factors of production -- Cost of capital -- 3.4.6 Profitability -- 3.4.7 Schooling Parameter -- 3.4.8 Elasticity of Demand with Respect to Biomass -- 3.4.8 The Fixed Cost Ratio -- 3.4.9 Management Costs and Subsidies -- Notes -- CHAPTER 4 Results -- 4.1 Main Results -- 4.2 Evidence from Global Studies -- 4.3 Evidence from Case Studies -- 4.4 Links to the Broader Economy -- 4.4.1 Contributions to Economic Growth and GDP -- 4.4.2 The Effects of Higher Fuel and Food Prices -- 4.5 Sensitivity Analysis and Confidence Intervals -- Note -- CHAPTER 5 The Way Forward -- 5.1 Fisheries Reform Makes Economic Sense -- 5.2 Rebuilding Global Fish Capital -- 5.2.1 Subsidies -- 5.2.2 The Costs of Reform -- 5.2.3 Net Benefits and Tenure -- 5.2.4 Sustainable Fisheries Are Primarily a Governance Issue -- 5.2.5 Fishery Reform Can Advance along the Axes of Sustainability, Productivity, and Equity -- 5.2.6 Strengthening the Socioeconomic Dimension of the Fisheries Dialogue -- 5.2.7 Accounting for Fish Wealth Is a National Role -- 5.2.8 Rights to Harvest Fish Wealth Are Distinct from Rights to Benefit from Fish Wealth -- 5.3 Summary: The Way Forward -- Note -- Appendix One: The Concept of Economic Rent in Fisheries -- Notes -- Appendix Two: Model and Model Estimation -- The Basic Model -- The Specific Modelt -- Estimation of Model Inputs -- Note -- Appendix Three: Stochastic Specifications and Confidence Intervals -- Outcomes of the Monte Carlo Stochastic Simulations -- Logistic Model (figure A3.1) -- Fox Model (figure A3.2) -- The Combined Models -- Calculated Rents and Rents Loss -- Conclusion -- Details of the Probability Distributions for the Input Parameters -- Maximum Sustainable Yield (MSY) -- Biomass Carrying Capacity (XMAX).

Biomass Growth in Base Year (XDOT) -- Landings in Base Year (Y) -- Profits in Base Year (Prof Π) -- Landings Price (P) -- Schooling parameter (b) -- Elasticity of Demand (d) -- Appendix Four: Supplementary Data -- References -- Index -- Back Cover.