Rebuilding the Eastern Baltic cod stock under environmental change - Part II: The economic viability of a marine protected area
AbstractThis study adds a cost analysis of the Eastern Baltic cod fishery to the existing model presented in Röckmann et al. (forthcoming). As cost data on this international fishery do not exist, available data from Denmark are extrapolated to the whole international fishery. Additionally, unit and total variable costs are simulated and the sensitivity to a set of different cost-stock and cost-output elasticities is tested. The study supports preliminary conclusions that a temporary marine reserve policy, which focuses on protecting the Eastern Baltic cod spawning stock in ICES subdivision 25, is a valuable fisheries management tool to (a) rebuild the overexploited Eastern Baltic cod stock and (b) increase operating profits. The negative effects of climate change can be postponed for at least 20 years – depending on the assumed rate of future climate change. Including costs in the economic analysis does not change the ranking of management policies as proposed in the previous study where costs were neglected.
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Bibliographic InfoPaper provided by Research unit Sustainability and Global Change, Hamburg University in its series Working Papers with number FNU-106.
Length: 33 pages
Date of creation: May 2006
Date of revision: May 2006
Development; Baltic cod; cost-stock elasticity; cost-output elasticity; sensitivity analysis; climate change scenario; management; policy; temporal marine reserve;
Find related papers by JEL classification:
- Q22 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Fishery
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