Iceland on the Outskirts of Europe: The Common Property Resource Problem

A structural reform of the Icelandic fishing industry which created the conditions for fair and free trade in fishing permits in Icelandic waters could conceivably remove the main current obstacle to EC membership for Iceland. This reform would grant other EC nations formal access to the market for fishing permits, as opposed to access to the resource itself. Many of the arguments presented also apply to Norway. The paper also discusses briefly, similar market solutions to problems arising in the process of economic integration in Europe related to oil extraction, forestry, environmental pollution and traffic congestion.EC Membership; Environment; Fisheries; Iceland; Natural Resources; Norway