IDEAS home Printed from https://ideas.repec.org/a/wly/natres/v42y2018i2p83-92.html
   My bibliography  Save this article

The market and shadow value of informal fish catch: a framework and application to Panama

Author

Listed:
  • Andrés M. Cisneros‐Montemayor
  • Sarah Harper
  • Travis C. Tai

Abstract

Fisheries catches are known to be widely underreported, and much of their value flows in informal markets. Goods and services that are not directly sold in a market also have a corresponding economic value, here termed ‘shadow value’, which can apply to discarded fish—or those that are consumed but not sold (e.g., subsistence catches). Here, we estimate the monetary value of fisheries catches in Panama that are landed but not reported, or that are discarded at sea; this includes catches from artisanal and industrial fleets, as well as recreational and subsistence fisheries. Based on available data, we estimate that the market and shadow value of unreported catches in Panama in 2010 was around US$92 million, equal to approximately 43% of the total reported landed value. In the case of discarded fish, the shadow value represents the potential but entirely unrealized economic benefit of landing such fish; in the case of unreported landings, unreported market value represents only the first link in the potentially sophisticated informal seafood economy. One must be careful in considering these results for policy. It is possible that, rather than seeking to capture these ‘lost’ benefits, fish that are discarded or unreported should not have been caught at all, for example, if they are juveniles or of threatened species; conversely, unreported subsistence catches are crucial for food security throughout the world. These results help contextualize the scale of unreported fisheries in economic terms, and can inform subsequent policies and strategies to ensure social, ecological, and economic sustainability.

Suggested Citation

  • Andrés M. Cisneros‐Montemayor & Sarah Harper & Travis C. Tai, 2018. "The market and shadow value of informal fish catch: a framework and application to Panama," Natural Resources Forum, Blackwell Publishing, vol. 42(2), pages 83-92, May.
    • Handle: RePEc:wly:natres:v:42:y:2018:i:2:p:83-92
    DOI: 10.1111/1477-8947.12143
    as

    Download full text from publisher

    File URL: https://doi.org/10.1111/1477-8947.12143
    Download Restriction: no
    File URL: https://libkey.io/10.1111/1477-8947.12143?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Gibson, Bill, 2005. "The transition to a globalized economy: Poverty, human capital and the informal sector in a structuralist CGE model," Journal of Development Economics, Elsevier, vol. 78(1), pages 60-94, October.
    2. Cisneros-Montemayor, Andrés M. & Christensen, Villy & Arreguín-Sánchez, Francisco & Sumaila, U. Rashid, 2012. "Ecosystem models for management advice: An analysis of recreational and commercial fisheries policies in Baja California Sur, Mexico," Ecological Modelling, Elsevier, vol. 228(C), pages 8-16.
    3. Poe, Melissa R. & Levin, Phillip S. & Tolimieri, Nick & Norman, Karma, 2015. "Subsistence fishing in a 21st century capitalist society: From commodity to gift," Ecological Economics, Elsevier, vol. 116(C), pages 241-250.
    4. Andrew Dyck & U. Sumaila, 2010. "Economic impact of ocean fish populations in the global fishery," Journal of Bioeconomics, Springer, vol. 12(3), pages 227-243, October.
    5. Wallace, Scott & Turris, Bruce & Driscoll, John & Bodtker, Karin & Mose, Brian & Munro, Gordon, 2015. "Canada's Pacific groundfish trawl habitat agreement: A global first in an ecosystem approach to bottom trawl impacts," Marine Policy, Elsevier, vol. 60(C), pages 240-248.
    6. Robert Summers, 1973. "International Price Comparisons Based Upon Incomplete Data," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 19(1), pages 1-16, March.
    7. Spalding, Ana K. & Suman, Daniel O. & Mellado, Maria Eugenia, 2015. "Navigating the evolution of marine policy in Panama: Current policies and community responses in the Pearl Islands and Bocas del Toro Archipelagos of Panama," Marine Policy, Elsevier, vol. 62(C), pages 161-168.
    8. Howarth, Richard B. & Farber, Stephen, 2002. "Accounting for the value of ecosystem services," Ecological Economics, Elsevier, vol. 41(3), pages 421-429, June.
    9. Lester M. Salamon & S. Wojciech Sokolowski & Megan A. Haddock, 2011. "Measuring The Economic Value Of Volunteer Work Globally: Concepts, Estimates, And A Roadmap To The Future," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 82(3), pages 217-252, September.
    10. Wilf Swartz & Rashid Sumaila & Reg Watson, 2013. "Global Ex-vessel Fish Price Database Revisited: A New Approach for Estimating ‘Missing’ Prices," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 56(4), pages 467-480, December.
    11. United Nations UN, 2015. "Transforming our World: the 2030 Agenda for Sustainable Development," Working Papers id:7559, eSocialSciences.
    12. Cisneros-Montemayor, Andrés M. & Cisneros-Mata, Miguel A. & Harper, Sarah & Pauly, Daniel, 2013. "Extent and implications of IUU catch in Mexico's marine fisheries," Marine Policy, Elsevier, vol. 39(C), pages 283-288.
    13. Daniel Pauly & Dirk Zeller, 2016. "Catch reconstructions reveal that global marine fisheries catches are higher than reported and declining," Nature Communications, Nature, vol. 7(1), pages 1-9, April.
    14. Andrés Cisneros-Montemayor & U. Sumaila, 2010. "A global estimate of benefits from ecosystem-based marine recreation: potential impacts and implications for management," Journal of Bioeconomics, Springer, vol. 12(3), pages 245-268, October.
    15. Christopher D. Golden & Edward H. Allison & William W. L. Cheung & Madan M. Dey & Benjamin S. Halpern & Douglas J. McCauley & Matthew Smith & Bapu Vaitla & Dirk Zeller & Samuel S. Myers, 2016. "Nutrition: Fall in fish catch threatens human health," Nature, Nature, vol. 534(7607), pages 317-320, June.
    16. Andrés M Cisneros-Montemayor & Daniel Pauly & Lauren V Weatherdon & Yoshitaka Ota, 2016. "A Global Estimate of Seafood Consumption by Coastal Indigenous Peoples," PLOS ONE, Public Library of Science, vol. 11(12), pages 1-16, December.
    17. Thorpe, Andy & Ibarra, Alonso Aguilar & Reid, Chris, 2000. "The New Economic Model and Marine Fisheries Development in Latin America," World Development, Elsevier, vol. 28(9), pages 1689-1702, September.
    18. Garibaldi, Luca, 2012. "The FAO global capture production database: A six-decade effort to catch the trend," Marine Policy, Elsevier, vol. 36(3), pages 760-768.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Sarah Harper & Marina Adshade & Vicky W Y Lam & Daniel Pauly & U Rashid Sumaila, 2020. "Valuing invisible catches: Estimating the global contribution by women to small-scale marine capture fisheries production," PLOS ONE, Public Library of Science, vol. 15(3), pages 1-16, March.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Sarah Harper & Marina Adshade & Vicky W Y Lam & Daniel Pauly & U Rashid Sumaila, 2020. "Valuing invisible catches: Estimating the global contribution by women to small-scale marine capture fisheries production," PLOS ONE, Public Library of Science, vol. 15(3), pages 1-16, March.
    2. Lydia C. L. Teh & William W. L. Cheung & Rashid Sumaila, 2022. "Assessing the Economic Contribution of Ocean-Based Activities Using the Pacific Coast of British Columbia as a Case Study," Sustainability, MDPI, vol. 14(14), pages 1-14, July.
    3. Andrés M Cisneros-Montemayor & Daniel Pauly & Lauren V Weatherdon & Yoshitaka Ota, 2016. "A Global Estimate of Seafood Consumption by Coastal Indigenous Peoples," PLOS ONE, Public Library of Science, vol. 11(12), pages 1-16, December.
    4. Angeles Cámara & Rosa Santero-Sánchez, 2019. "Economic, Social, and Environmental Impact of a Sustainable Fisheries Model in Spain," Sustainability, MDPI, vol. 11(22), pages 1-16, November.
    5. Nathalie Hilmi & Shekoofeh Farahmand & Vicky W. Y. Lam & Mine Cinar & Alain Safa & Juliette Gilloteaux, 2021. "The Impacts of Environmental and Socio-Economic Risks on the Fisheries in the Mediterranean Region," Sustainability, MDPI, vol. 13(19), pages 1-30, September.
    6. Nadhéra Babali & Mohamed Kacher & Dyhia Belhabib & Ferial Louanchi & Daniel Pauly, 2018. "Recreational fisheries economics between illusion and reality: The case of Algeria," PLOS ONE, Public Library of Science, vol. 13(8), pages 1-11, August.
    7. Peter W. Sorensen & Maria Lourdes D. Palomares, 2021. "Global Inland Capture and Culture Finfisheries Follow Different Trends When Evaluated by the Human Development Index," Sustainability, MDPI, vol. 13(15), pages 1-13, July.
    8. Louise Teh & Vicky Lam & William Cheung & Dana Miller & Lydia Teh & U. Rashid Sumaila, 2017. "Impact of high seas closure on food security in low-income fish-dependent countries," Chapters, in: Paulo A.L.D. Nunes & Lisa E. Svensson & Anil Markandya (ed.), Handbook on the Economics and Management of Sustainable Oceans, chapter 11, pages 232-262, Edward Elgar Publishing.
    9. Pierre Desrochers & Vincent Geloso & Joanna Szurmak, 2021. "Care to Wager Again? An Appraisal of Paul Ehrlich's Counterbet Offer to Julian Simon, Part 1: Outcomes," Social Science Quarterly, Southwestern Social Science Association, vol. 102(2), pages 786-807, March.
    10. Aylin Ulman & Burak Çiçek & Ilkay Salihoglu & Antonis Petrou & Maria Patsalidou & Daniel Pauly & Dirk Zeller, 2015. "Unifying the catch data of a divided island: Cyprus’s marine fisheries catches, 1950–2010," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 17(4), pages 801-821, August.
    11. Rosello Mercedes, 2016. "Illegal, Unreported and Unregulated Fishing Control in the Exclusive Economic Zone: a Brief Appraisal of Regulatory Deficits and Accountability Strategies," Croatian International Relations Review, Sciendo, vol. 22(75), pages 39-68, August.
    12. Veronica Relano & Maria Lourdes Deng Palomares & Daniel Pauly, 2021. "Comparing the Performance of Four Very Large Marine Protected Areas with Different Levels of Protection," Sustainability, MDPI, vol. 13(17), pages 1-18, August.
    13. Wehner, Nicholas & Fabinyi, Michael, 2018. "Environmental fixes and historical trajectories of marine resource use in Southeast Asia," MarXiv bej53, Center for Open Science.
    14. Coralie Kersulec & Luc Doyen & Hélène Gomes & Fabian Blanchard, 2021. "The effect of illegal fishing on the sustainability of small scale fisheries," Bordeaux Economics Working Papers 2021-17, Bordeaux School of Economics (BSE).
    15. Stafford, Richard & Jones, Peter JS Dr, 2019. "Viewpoint – Ocean Plastic Pollution: a convenient but distracting truth?," MarXiv fu5dp, Center for Open Science.
    16. Nong, Duy, 2019. "Potential economic impacts of global wild catch fishery decline in Southeast Asia and South America," Economic Analysis and Policy, Elsevier, vol. 62(C), pages 213-226.
    17. Rakesh Kumar & Anurag Verma & Arkajyoti Shome & Rama Sinha & Srishti Sinha & Prakash Kumar Jha & Ritesh Kumar & Pawan Kumar & Shubham & Shreyas Das & Prabhakar Sharma & P. V. Vara Prasad, 2021. "Impacts of Plastic Pollution on Ecosystem Services, Sustainable Development Goals, and Need to Focus on Circular Economy and Policy Interventions," Sustainability, MDPI, vol. 13(17), pages 1-41, September.
    18. Andrés M Cisneros‐Montemayor & Amanda Townsel & Claire M Gonzales & Andrea R Haas & Estrella E Navarro‐Holm & Teresa Salorio‐Zuñiga & Andrew F Johnson, 2020. "Nature‐based marine tourism in the Gulf of California and Baja California Peninsula: Economic benefits and key species," Natural Resources Forum, Blackwell Publishing, vol. 44(2), pages 111-128, May.
    19. Wehner, Nicholas & FAO,, 2017. "Improving our knowledge on small-scale fisheries: data needs and methodologies," MarXiv vnwc2, Center for Open Science.
    20. Brian Pentz & Nicole Klenk, 2020. "Understanding the limitations of current RFMO climate change adaptation strategies: the case of the IATTC and the Eastern Pacific Ocean," International Environmental Agreements: Politics, Law and Economics, Springer, vol. 20(1), pages 21-39, March.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:wly:natres:v:42:y:2018:i:2:p:83-92. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: https://doi.org/10.1111/(ISSN)1477-8947 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.