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Environmental public goods management: case of fisheries in EU and ASEAN

Nowadays, the sustainable management of environmental resources becomes a key objective for many regions. In the European Union (EU), there are numerous countries for which fishing is one of the most important industries. As a result, Common Fisheries Policy was established. At the same time, fisheries were always crucial source of income for Asian economies. The goal of the paper is to compare the management of the EU and ASEAN fisheries with the reference to policies and cooperation strategies as well as the priorities.
Fisheries are a specific type of a common good, which may be analyzed through concept of the tragedy of commons (Hardin, 1968). Optimal operations of the fisheries depend on the market structure (perfect competition / monopoly) as noted by A.O. Sykes (Sykes, 2004). The fisheries being a common good or, on the contrary, nobody’s good, raise problems associated with their management. It becomes necessary to negotiate the right to use them, which creates transaction costs. Additional problems associated with the use of common resources are challenges to control, protect and bear liability for damages (Calabresi, Melamed, 1972). For some scientists the solution is introduction of property rights and other regulations. Others highlight that under specific conditions these measures are not necessary (Ostrom 1990). 
The research methods used in the paper include literature review and comparative studies between of European Union and ASEAN policies. The author compares applied strategies, their outcomes and forecasts for future developments. Conclusions contain an assessment of the measures adopted by both organizations in their specific socio-economic context. 
Calabresi, G., Melamed A.D. (1972) “Property Rules, Liability Rules, and Inalienability: One View of the Cathedral.” Harvard Law Review, 1089–1128.
Hardin, G. (1968) “The Tragedy of the Commons.” Science 162, no. 3859 (December 13): 1243–48.
Ostrom, E. (1990). Governing the commons: The evolution of institutions for collective action. Cambridge university press.
Sykes, A. O. “The Economics of Public International Law,” 2004.