The optimality of the Common Fisheries Policy: the Northern Stock of Hake
AbstractWe 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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Bibliographic InfoArticle provided by Springer in its journal Spanish Economic Review.
Volume (Year): 8 (2006)
Issue (Month): 1 (03)
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Other versions of this item:
- Da Rocha, José María & Gutiérrez Huerta, María José, 2004. "The Optimality of the Common Fisheries Policy: the Northern Stock of Hake," DFAEII Working Papers 2002-20, University of the Basque Country - Department of Foundations of Economic Analysis II.
- Q22 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Fishery
- Q28 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Government Policy
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