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

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Author Info
Mª José Gutierrez () (Universidad del País Vasco)
Jose María Da-Rocha (Universidad de Vigo)

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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 finding 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%.

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File URL: http://www.dfaeii.ehu.es/s0044-con/en/contenidos/informacion/00044_documentos/en_00044_dc/adjuntos/wp2002-20.pdf
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Publisher Info
Paper provided by University of the Basque Country - Department of Foundations of Economic Analysis II in its series DFAEII Working Papers with number 200220.

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Date of creation: 24 Sep 2003
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Handle: RePEc:ehu:dfaeii:200220

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Postal: Dpto. de Fundamentos del Análisis Económico II, Facultad de CC. Económicas y Empresariales, Universidad del País Vasco, Avda. Lehendakari Aguirre 83, 48015 Bilbao, Spain
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Related research
Keywords: Common Fisheries Policy; Fishing Regulation; quotas;

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Find related papers by JEL classification:
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

References listed on IDEAS
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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. [Downloadable!] (restricted)
  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. [Downloadable!] (restricted)
  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. [Downloadable!] (restricted)
  4. Androkovich, R. A. & Stollery, K. R., 1989. "Regulation of Stochastic Fisheries: A Comparison of Alternative Methods in the Pacific Halibut Fishery," Marine Resource Economics, Marine Resources Foundation, vol. 6(2). [Downloadable!]
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