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The optimality of the Common Fisheries Policy: the Northern Stock of Hake

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  • José-María Da-Rocha

    ()

  • María-José Gutiérrez

    ()

Abstract

We evaluate the management of the Northern Stock of Hake during 1986-2001. A stochastic bioeconomic model is calibrated to match the main features of this fishing ground. We show how catches, biomass stock and profits would have been if the optimal Common Fisheries Policy (CFP) consistent with the target biomass implied by the Fischler's Recovery Plan had been implemented. The main findings are: i) an optimal CFP would have generated profits of more than 667 millions euros, ii) if side-payments are allowed (implemented by ITQ's, for example) these profits increase 26%. Copyright Springer-Verlag Berlin/Heidelberg 2006

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File URL: http://hdl.handle.net/10.1007/s10108-004-0091-5
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Bibliographic Info

Article provided by Springer in its journal Spanish Economic Review.

Volume (Year): 8 (2006)
Issue (Month): 1 (03)
Pages: 1-21

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Handle: RePEc:spr:specre:v:8:y:2006:i:1:p:1-21

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Keywords: Common fisheries Policy; fishing regulation; Fischler Recovery Plan;

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  1. Danielsson, Asgeir, 2002. "Efficiency of Catch and Effort Quotas in the Presence of Risk," Journal of Environmental Economics and Management, Elsevier, vol. 43(1), pages 20-33, January.
  2. Escapa, Marta & Gutierrez, Maria Jose, 1997. "Distribution of Potential Gains from International Environmental Agreements: The Case of the Greenhouse Effect," Journal of Environmental Economics and Management, Elsevier, vol. 33(1), pages 1-16, May.
  3. Eirik Amundsen & Trond Bjørndal & Jon Conrad, 1995. "Open access harvesting of the Northeast Atlantic minke whale," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 6(2), pages 167-185, September.
  4. Gallastegui, Carmen, 1983. "An economic analysis of sardine fishing in the Gulf of Valencia (Spain)," Journal of Environmental Economics and Management, Elsevier, vol. 10(2), pages 138-150, June.
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