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This work maps out the pay systems used in the fisheries' sectors of Denmark, Faroe Islands, Greenland, Iceland and Norway. Based on pay information, the evolution of pay and the distribution of resource rents among participating groups are analysed. The main findings suggest that Nordic commercial fishers are well paid compared to other occupations. As more efficient fisheries management regimes are introduced fishers remaining in the sector have been able to substantially increase their salaries. Likewise, as fisheries management have evolved so has the rents captured by fishers, vessel owners, quota owners and the public. Calculations show that the introduction of ITQ like management systems have contributed substantially to societal welfare across the Nordic countries.

Marine capture fisheries face major and complex challenges: habitat degradation, poor economic returns, social hardships from depleted stocks, illegal fishing, and climate change, among others. The key factors that prevent the transition to sustainable fisheries are information failures, transition costs, use and non-use conflicts and capacity constraints. Using the experiences of fisheries successes and failures it is argued only through better governance and institutional change that encompasses the public good of the oceans (biodiversity, ecosystem integrity, sustainability) and societal values (existence, aesthetic and amenity) will fisheries be made sustainable. Fil: Grafton, R. Quentin. Australian National University; Australia Fil: Hilborn, Ray. University of Washington; Estados Unidos Fil: Ridgeway, Lori. Fisheries And Oceans Canada; Canadá Fil: Squires, Dale. NOAA Fisheries. Southwest Fisheries Science Center; Estados Unidos Fil: Williams, Meryl. Aspley; Australia Fil: Garcia, Serge. Food And Agriculture Organization Of The United Nations; Italia Fil: Groves, Theodore. University of California at San Diego; Estados Unidos Fil: Joseph, James. No especifíca; Fil: Kelleher, Kieran. The World Bank; Estados Unidos Fil: Kompas, Tom. Australian National University; Australia Fil: Libecap, Gary. University of California; Estados Unidos Fil: Lundin, Carl Gustaf. International Union for Conservation of Nature; Suiza Fil: Makino, Mitsutaku. Fisheries Research Agency; Japón Fil: Matthiasson, Thorolfur. University of Iceland. Faculty of Economics and Business Administration; Islandia Fil: McLoughlin, Richard. Jerrabomberra; Australia Fil: Parma, Ana María. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Nacional Patagónico; Argentina Fil: San Martin, Gustavo Adolfo. Benthic Fisheries; Chile Fil: Satia, Ben. Committee for Fisheries; Estados Unidos Fil: Schmidt, Carl Christian. Organisation for Economic Co-operation and Development; Francia Fil: Tait, Maree. Australian National University; Australia Fil: Zhang, Lin Xiu. Chinese Academy of Sciences; República de China

IUU fishing is an activity driven by economic factors, that is, the IUU fisher's expected net benefit. When expected net benefit is positive, the activity will continue somewhere, somehow. This underscores the importance of co-operation, international and regional, to ensure that the expected benefits from IUU activities are reduced by making sure potential loopholes are identified and fixed.OECD work on IUU fishing activities focuses on identifying new strategies that are based on the economics of the IUU activity. A number of key economic, institutional and social drivers have been identified, including excess fishing capacity, market value (price) of fish, the level of MCS (including VMS) operations and associated sanctions against IUU fishing, domestic management regimes, weak international legal frameworks and poor economic and social conditions in many parts of the fisheries world. These economic, institutional and social drivers underpin or weaken the profitability of IUU activities.In devising new strategies and measures to combat IUU fishing, it is essential to identify instruments that either reduce the expected income stream or alternatively increase the costs of the activity. To change the "expected benefit" of IUU fishing operations a number of actions can be taken. Among the promising avenues are efforts to step up monitoring and surveillance of IUU fishing activities. However, to be effective these also require that sufficiently restrictive levels of fines and penalties are in place. In the longer term, emphasis is also needed on more general development and educational activities that can provide fishers with alternative sources of income.