Abstract
Peru has a long shoreline — about 2,300 km — on the Pacific Ocean. Fishing is a major activity based 98% on the anchoveta (Engraulis ringens). Conditions in the seas off the country are highly singular because of the effect of a cold surface current called the Peruvian Current, which harbors a major hydrobiological resource.The principal fishery resource is the anchoveta, a small and prolific pelagic fish that lives in the waters of the Peruvian Current. This resource has made Peru the first-ranking fishing country in the world with an annual catch of 9.5–12 million tons in recent years.Forecasts for the establishment of an adequate regulation system can be based on data for growth recruitment and mortality or on analyses of catch and fishing effort data. In cooperation with FAO Peru has called four meetings of high-level international experts, three of them to deal with the dynamics of the anchoveta population and one to study the economic effects of regulatory measures.In the meeting to study the economic effects of regulations it was mentioned that the industry was not efficient because of the excess capacity of the fleet and plants, and it was noted that any reduction in fleet or plant capacity should be accompanied by technological and financial improvements. Since any voluntary reduction was regarded as highly unlikely, it was felt that mandatory regulations were needed and various types of such regulations were mentioned.The panels on the dynamics of the anchoveta population also included in their reports recommendations for protection of this resource.The Ministry of Fisheries, which took over the functions of the former Dirección de Pesquería y Caza (Fisheries and Hunting Administration) has issued a variety of regulations to protect the stock. Regulations and controls have been established since 1965 and are issued for each annual period.The Peruvian fisherman suffers the most from the consequences of interruptions of fishing operations and is trying to protect himself by setting up special funds. The entrepreneurial sector accepts and understands the fishery regulations and prefers that they be issued in advance so that it may make its operational plans accordingly.The scientists who recommend regulation emphasize prohibitions for the protection of juvenile, spawning and larval fish, and as a means to reduce fishing effort. Basically, the most general regulation is the one that establishes two 2-month closed seasons, one in summer and one in winter.In the secondary sector the greatest impact of regulation has been felt in shipbuilding. However, regulation has also affected other minor activities such as transportation and food maintenance services, which employ large numbers of people.

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