Alternative licensing schemes for the management of Laguna Lake: a case study [Philippines]
1989
Maunahan, M.V.
Profitability measures indicated that tending a fishpen was still generally feasible in the short run. However, long-term prospects no longer favored small-scale ventures since there were practically no more resource rents given this scale of operation. On the other hand, the substantial economic surpluses generated by 50-ha holdings could perhaps explain the latters proliferation. On the other hand, the relatively bigger resultant profits in erstwhile non-strategically located areas may be attributed more to risk-taking and ability rather than to resource rents. Financial indicators confirmed the infeasibility of tending a 5 ha pen vis-a-vis the bright propects of large-scale operations. The latter still proves viable when subjected to decreases in stocking density but is apparently sensitive to changes in marketable fish size, output price and stock recovery. Continued impairment of lake conditions will likely render operations even at this scale non-viable if stocking is not maximized and the weather remains unpredictable. From the rent and net present figures, it is apparent that the current amount of fishpen fee or lease is under-priced and there exists a higher social price for fishpen space. Since corporate operators are earning tremendous "unearned" incomes, the scheme of allocating rights of access needs to be streamlined. Open bidding or public auction for a given number of licenses is easily the "first-best" alternative but for its counter-equity implication. A scheme of graduated charges based on an acceptable proportion of generated surpluses is seen as the practical "second-best" option to be backed up by a system of secure tenure, discretionary stocking, clearly demarcated fishpen and open-fishing areas, and livelihood programs for small capture fishermen.
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