Of ITQs From 1991 To 1994
||The data presented in the previous
section provide a clear indication of the changes taking place in
the distribution of fishing rights from 1984. However, while they
are conclusive for the period before 1991, they only relate a part
of the story for the ensuing years. The consequential fisheries
management legislation of 1990 resulted in the inclusion of 704
new small-scale ITQ-holders not included in the analysis presented
above. Figure 4 shows changes in the total number of ITQ holders
after 1990, using the same four groups as before, defined in the
same way -- but now including all ITQ holders. What is perhaps most
striking here is the sizeable reduction (26%) during this four year
period in the total number of ITQ holders, from 1155 to 855. This
drop is most marked in 1991, but appears to gradually slow down
with each consecutive year. Moreover, while the number of 'giants'
increases substantially, all other groups diminish in number --
the most notable case being that of the 'dwarves', who fall by 254
in four years (a drop of 26,7%). These results seem to match the
findings presented in the previous section. Notably, however, the
rate of drop-outs during this period is significantly higher, especially
among the 'dwarves'. This would appear to substantiate our earlier
interpretation of the changing form of the concentration of ITQs.
There we noted that the reduction in the number of ITQ holders seemed
to slow down after 1990. It is apparent, however, that this trend
really masked a much more marked decrease in the ranks of the new
ITQ holders that were excluded from the analysis in the previous
section. The operators of 6-10 ton boats, then, appear to have been
selling their newly commoditiced fishing rights en masse as soon
as 1991, something that is manifest in the growth of the 'giants''
ITQ shares. Significantly, while the aggregate ITQ-share of the
6-10 ton boats amounted to approximately 9% of the total ITQs in
1991, it had decreased to 4.6% four years later in 1994.As before,
the reduction in the number of ITQ holders indicates an increased
concentration of fishing rights among those that remain. The 'giants'
almost double their share of the ITQs over the four year period.
Conversely, the ITQ shares of all other groups diminish. If we combine
the data presented, it emerges that the 'giants'' average share
goes from 1.60% in 1991 to 1.82% in 1994, even though they are the
only group to increase in number. However, the average ITQ shares
of 'dwarves' and 'small' ITQ holders remain almost constant, while
that of the 'large' ITQ holders decreases slightly, from 0.56% to