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Analysing the profitability of the Spanish fleet after the anchovy moratorium using bootstrap techniques

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  • Garza-Gil, M. Dolores
  • Varela-Lafuente, Manuel M.
  • Caballero-Miguez, Gonzalo
  • Álvarez-Díaz, Marcos

Abstract

Given the low biomass level of the anchovy, the European Commission agreed to establish a moratorium on this species in the Bay of Biscay in 2005. Although the effects of managing the fishing activity with TACs, fees, taxes and ITQs on the stocks and future net profits are well documented in the specialized literature, scarce attention has been paid to analyze the effects of moratoriums on fisheries and the profitability of the fleet. This paper studies if the anchovy moratorium had a significant impact on the economic profitability of the fleet that fishes anchovy and other pelagic species in the North Atlantic waters. For this purpose, we compare the financial situations of the fleet before and after the moratorium from a statistical point of view using bootstrap, which is a flexible non-parametric and computationally intensive methodology. The results reveal the existence of a structural change in the financial performance of the fleet after the implementation of the moratorium.

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Bibliographic Info

Article provided by Elsevier in its journal Ecological Economics.

Volume (Year): 70 (2011)
Issue (Month): 6 (April)
Pages: 1154-1161

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Handle: RePEc:eee:ecolec:v:70:y:2011:i:6:p:1154-1161

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Web page: http://www.elsevier.com/locate/ecolecon

Related research

Keywords: Moratorium Profitability Small pelagic species Spanish fisheries;

References

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  1. Whitmarsh, David & James, Carl & Pickering, Helen & Neiland, Arthur, 2000. "The profitability of marine commercial fisheries: a review of economic information needs with particular reference to the UK," Marine Policy, Elsevier, vol. 24(3), pages 257-263, May.
  2. Andrew H. Briggs & David E. Wonderling & Christopher Z. Mooney, 1997. "Pulling cost-effectiveness analysis up by its bootstraps: A non-parametric approach to confidence interval estimation," Health Economics, John Wiley & Sons, Ltd., vol. 6(4), pages 327-340.
  3. Weitzman, Martin L., 2002. "Landing Fees vs Harvest Quotas with Uncertain Fish Stocks," Journal of Environmental Economics and Management, Elsevier, vol. 43(2), pages 325-338, March.
  4. Surís-Regueiro, Juan C. & Varela-Lafuente, Manuel M. & Garza-Gil, M. Dolores, 2002. "Profitability of the fishing fleet and structural aid in the European Union," Marine Policy, Elsevier, vol. 26(2), pages 107-119, March.
  5. Trond Bjørndal & Marko Lindroos, 2004. "International Management of North-Sea Herring," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 29(1), pages 83-96, September.
  6. Dolores Garza-Gil, M. & Amigo-Dobaño, Lucy, 2008. "The profitability of the artisanal galician fleet," Marine Policy, Elsevier, vol. 32(1), pages 74-78, January.
  7. Davidse, W. P. & McEwan, L. V. & Vestergaard, N, 1999. "Property rights in fishing: from state property towards private property?: A case study of three EU countries," Marine Policy, Elsevier, vol. 23(6), pages 537-547, November.
  8. Claire W. Armstrong & Ussif Rashid Sumaila, 2001. "Optimal Allocation of TAC and the Implications of Implementing an ITQ Management System for the North-East Arctic Cod," Land Economics, University of Wisconsin Press, vol. 77(3), pages 350-359.
  9. Flaaten, Ola & Heen, Knut, 2004. "Fishing vessel profitability and local economic link obligations--the case of Norwegian trawlers," Marine Policy, Elsevier, vol. 28(6), pages 451-457, November.
  10. David Brownstone & Robert Valletta, 2001. "The Bootstrap and Multiple Imputations: Harnessing Increased Computing Power for Improved Statistical Tests," Journal of Economic Perspectives, American Economic Association, vol. 15(4), pages 129-141, Fall.
  11. Ralph E. Townsend, 1990. "Entry Restrictions in the Fishery: A Survey of the Evidence," Land Economics, University of Wisconsin Press, vol. 66(4), pages 359-378.
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