Abstract
Parnu Bay is the most important fishing ground in Estonian coastal fishery where until recently, pikeperch (Stizostedion lucioperca) was, after the Baltic herring (Clupea harengus membras), the second most important commercial fish. Exploitation of pikeperch stock in Parnu Bay is analysed in the period of the Soviet planned economy that was characterized by low market demand and fixed low price for fish, and the free market conditions of high demand and high prices for fish. The consequences of the different management regimes of the pikeperch stock at different economic situations are discussed. Under free market economy conditions, the average fishing mortality of the pikeperch was more than twice as high as under the planned economy. As a result, several strong year-classes hatched in the 1990s were fished out before legally entering the fishery. Catches decreased sharply after 1997 and the pikeperch fishery was closed in 2000. Abundant year-classes contributed to an increase in the spawning stock biomass in the period of the Soviet planned economy. Until the transition to a free market economy the fishing mortality rate was close to optimal, but since then growth-overfishing of the stock has led to an annual loss of at least 38% of the potential long-term catch.
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