Optimizing the utilization of scad fish (Decapterus spp.) resource in northern coast of Aceh

For ten years, the Scad fish production in the Northern Coast of Aceh has been increasing rapidly at 172.5%. This condition describes that the Scad fish resource exploitation is implemented under improper management that could encounter an overfishing case. This study aimed to analyze the Scad fish resource utilization level and recommend a management strategy to achieve an optimized Scad fish resource utilization in the Northern Coast of Aceh. This study was performed in the Ocean Fishing Port, Kutaraja, Banda Aceh. Bioeconomic analysis results showed that catching product and effort in MSY condition at 2,838.59 tons and 2,808 trips by economic rent was Rp23,902 million per year. In MEY condition, catching product at 2,748.01 ton with catching effort at 2,311 and economic rent was Rp25,056 million per year. The open-access condition of Scad fish resource with total catching effort at 5,386 trips and economic rent value obtained was Rp 0. Results demonstrated that the Scad fish resource utilization status in the Northern Coast of Aceh encounters biological and economical overfishing. The Scad fish resource management strategy for achieving MSY and MEY condition through input control and output control by establishing the total allowed catching product and catching quota.

A New Input-Output Table Built from Neoclassical Analysis that Considers Economic Rent

Despite the extended use of the input-output framework, its acceptance among economists is limited due to lack of microfoundations and imposed omission of economic rent. A new input-output table is built from basic neoclassical profit maximization, which explicitly considers economic rent. The new table holds eight differences with conventional open input-output tables which enhances the framework’s theoretical basis, allows for economic rent, and yields new insights into economic structures.JEL Codes: C67, D57

The Destruction of Social Capital In Indonesia

Background: Business failure in the economic system causes various economicactors to potentially become rent-seekers in an imperfect political system. Sugar isan agricultural commodity that, thus far, is a public good that needs governmentregulation. This study aims to determine the social capital of Indonesia's sugarinterest groups and to determine the dominant variable in Indonesia's sugarindustry. Materials and Methods: This research uses a type of explanatory researchthat has a high relationship level because it not only has independent andcomparative values but also serves to explain and predict the relationship with aqualitative approach between variables. Relationship analysis using DecisionExplorer version 3.3 software. Results: analysis of the relationship of and variablein the sugar industry, the more variables involved in the loop, the most importantrelationship between variables in the loop, the most important loop is loop 4consisting of economic rent, the refined sugar market, entrepreneurs in food andbeverage, lobbying, government. Conclusion: It is concluded from the findings ofthis study that the social capital of Indonesia's sugar interest groups consists of 9loops, Almost every variable has a weak strength to social capital and leads todamage.

Ontology of Variability of Accounting for Financial Rent

Research on financial rent has been at the forefront of economics since the middle of the twentieth century in market economies due to the growing role of financial capital and the formation of the stock market. Today some scholars believe that financial rent is a type of economic rent, so it should be reflected in accounting. The purpose of the article is to develop recommendations for the reflection of financial rent in the accounting system. This research has solved the following tasks: to determine significant differences in the understanding of financial rent in the theory of finance and the rent in economic theory; to identify the type of resource that produces financial rent; to form approaches to the assessment and accounting for financial rent. It was established that in financial science the concept of financial rent does not correlate with the concept of economic rent, but it is appropriate to consider the financial rent as income that should be reflected in the accounting system to ensure the effectiveness of further management decisions. The identification of the composition of financial resources for the needs of their accounting allowed to determine the type of financial instruments, as well as operations that will form the financial rent. Author's approaches to the recognition of financial rent as accounting object were presented and organizational and methodical provisions of accounting for financial rent were developed. In particular, the procedure for determining the amount of financial rent and its reflection in the accounts depending on the sources of its formation was proposed. The practical significance of the study results is to increase the informativeness of the accounting system for management staff in order to manage the efficiency of the enterprise.

FEATURES AND PROSPECTS OF THE ECONOMIC RENT FROM WORKFORCE AND SOCIAL CONDITIONS IN UKRAINE

Object of research: the article presents the results of studying the economic rent from workforce and social conditions (significant components of the important rent-forming resource of nowadays global economy – social capital) in Ukraine. Solved problem: determining the features of economic rent, outlining the conditions and prospects for increasing the rental income of the Ukrainian economy from the capitalization of workforce’ intellectual and creative qualities, as well as socium rent-generating conjunctures. Main scientific results: the role of the economic rent in the system of rental relations of the modern global economy and its national components is examined; the features of the formation and distribution of economic rent’ various types in the process of using the workforce’ intellectual and creative potential, as well as other components of the nowadays most significant type of rent-forming resources – social capital – are studied. The specificity of human component and social capital in general as a rent-generating resource is manifested in the generation of additional prerequisites (resource, organizational and economic) and incentives to increase volumes and expand potential areas for extracting rent income in the process of its use, since the using of the employee’ knowledge and abilities leads to a consistent accumulation of professional experience, and consequently – to a permanent increase in the aggregate of these rent-generating properties and in activities for improving the environment of their implementation in Ukraine. Scope of practical use of research results: the research results can be used in developing strategies and programs of Ukrainian economy’ innovative diversification in the process of its further competitive integration into the global economic space, that, among other things, requires the creation of conditions for improving the rent-generating properties of workforce and social environment, as well as increasing the level of its capitalization.

DAMPAK EKONOMI AKIBAT IUU FISHING PERIKANAN TANGKAP PELAGIS BESAR DI WPPNRI 715

Penelitian ini bertujuan untuk mengetahui dampak ekonomi akibat IUU fishing pada perikanan tangkap pelagis besar di WPPNRI 715. Metode penelitian yang digunakan adalah metode penelitian studi kasus dengan teknik pengambilan sampel menggunakan multistage random sampling, metode analisis data yang digunakan adalah bioekonomi model. Penelitian dilakukan pada bulan Desember 2018 sampai dengan Agustus 2019 dan sampling pengambilan data di provinsi Sulawesi Utara dan DKI Jakarta. Hasil analisis menunjukkan bahwa produksi legal ikan pelagis besar pada maximum economic yield (MEY) adalah sebesar 368.522,25 ton per tahun dengan effort sebanyak 554 902 trip per tahun dan perolehan rente sebesar Rp3,06 trilyun/tahun sedangkan produksi total (legal dan IUU fishing) adalah sebesar 530.451,63 ton per tahun dengan effort sebanyak 929 414 trip per tahun dan rente sebesar Rp6,73 trilyun/tahun. IUU fishing menimbulkan dampak hilangnya potensi perolehan rente ekonomi pada pemanfaatan sumber daya ikan pelagis besar di WPPNRI 715 yaitu sebesar Rp3,66 trilyun/tahun. Hasil penelitian menyimpulkan bahwa IUU fishing merugikan perikanan tangkap pelagis besar di WPPNRI 715 sehingga diperlukan rumusan kebijakan dalam pengawasan sumberdaya kelautan dan perikanan berupa peningkatan kualitas sumberdaya manusia dalam bidang perikanan, penggunaan satelit pemantauan dan kebijakan peningkatan kesadaran dan penegakkan hukum di laut.Title: Economic Impact of IUU Fishing on Big Pelagic Fish in WPPNRI 715This research aims to determine the economic impact of IUU fishing large pelagic fish in WPPNRI 715. The research is a case study with multistage random sampling. Data were analysed with bioeconomics model for fisheries. The research was conducted from December 2018 to August 2019, and the sampling areas of data collection was in the provinces of North Sulawesi and DKI Jakarta. The results of the analysis showed that the legal production of large pelagic fish at maximum economic yield (MEY) is 368,522.25 tons per year with an effort of 554 902 trips per year, and economic rent at IDR3.06 trillions/year. The total production (legal and IUU fishing) is 530,451.63 tons per year with an effort of 929.414 trips per year and economic rent of IDR 6.73 trillions/year. IUU fishing has an impact on the loss of potential economic rent on the large pelagic fish resources in the WPPNRI 715 amounting to IDR 3.66 trillion/year. The results showed that IUU fishing has a detrimental economic impact on the large pelagic fish in WPPNRI 715. Therefore, a policy is necessary to increase supervision of marine and fishery resources by improving the quality of fishery human resources, the use of monitoring satellites and policies to increase awareness and law enforcement at sea.

Review of the Petroleum Resource Rent Tax (PRRT)

1. Successful reforms of oil and gas resource taxation that reclaim the public’s rightful share of resource rents will be vigorously contested with extensive lobbying and campaigning. The oil and gas industry is also likely to challenge effective tax changes in the courts. If such industry actions do not occur, it is likely the reforms have been incomplete. After all, successful reforms will take billions of dollars a year of economic rent away from a handful of oil and gas companies and give it to the public. They will not be happy.2. PRRT has some economic advantages in theory, including stabilisation effects in highly cyclical industries. However, these may be small in practice, as resource rent taxes are complex and difficult to enforce. A lesson from Norway is that taking an ownership stake in projects help enforce such taxes and provides insurance against their avoidance.3. Previous changes to the PRRT have given ground unnecessarily to oil and gas companies. Changes to important details, like uplift rates on losses, transfer of PRRT credits between projects, and qualifying expenditure for the cost base, individually and cumulatively have had the effect of severely undermining the resource rent base of the PRRT. Closing these loopholes is necessary in order to effectively share resource rents with the public. In doing so, arguments about ‘retrospective taxation’ should be ignored, as protecting projects with their historical tax regimes simply hands over the economic rents any tax reforms are designed to collect for the public.4. In the absence of a reformed PRRT that has an appropriate resource rent tax base, there are two alternative ways for the public to collect resource rents:a. A 10% royalty on the market value of all oil and gas projects could replace all Commonwealth resource revenues from the suite of PRRT, crude excise and royalties. It would be simple to enforce and likely raise more revenues in the next decade as the industry unwinds from a large exploration phase. A 12% rate would be sufficient to replace Western Australia’s share of North West shelf royalties as well.b. A tax could be charged on pure economic rent using a system of self-declared unimproved resource values, with government holding a right to purchase at that value. An annual charge on this value at a rate slightly above the long-term bond rate would capture the majority of economic rents.

When homes earn more than jobs: the rentierization of the Australian housing market

This article develops the concept of housing market ‘rentierization’ to describe the shift in the treatment of housing away from its use as a consumption good to an asset from which economic rent can be extracted, with Australia as a canonical example. Rentierization encompasses, but goes beyond, the financialisation of housing that has been the focus of attention in recent political economy literature as it involves policy changes and coordination across the land and housing market, fiscal-policy as well as financial policy spheres. In addition, we argue, rentierization offers a better explanation of rising house prices than the decline in real interest rates which has come to the fore in the recent economics literature. Our study of Australia examines the returns to land and housing over time and traces the roots of rentierization to developments that preceded the financial liberalisation of the 1980s, including the privatisation of public housing in the 1960s and 70s. We consider some of the reasons for the resilience of Australia’s rentier-oriented housing model, and policy alternatives which might help reduce the logic of rentierization and, in doing so, reduce housing-related inequalities.