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Market Integration of Fish in Europe

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  • Max Nielsen
  • Jos Smit
  • Jordi Guillen

Abstract

"This paper examines market integration between fish species in Europe, taking international market integration into account. Based on Juselius (2006), market integration is found both on the fresh and frozen markets. The Law of One Price is in force on the fresh market within the segments of flatfish and pelagic fish. Assuming transitivity, a loose form of market integration is identified between 13 fresh and seven frozen fish species, and the relative prices are found fairly stable. The policy implication is that catch limitation measures implemented through the Common Fisheries Policy have limited and conditional effects on prices, because of the large size of the market and varying market integration. Therefore, many fishermen are not 'compensated' by price increases as a result of catch limitation measures." Copyright (c) 2009 The Authors. Journal compilation (c) 2009 The Agricultural Economics Society.

Suggested Citation

  • Max Nielsen & Jos Smit & Jordi Guillen, 2009. "Market Integration of Fish in Europe," Journal of Agricultural Economics, Wiley Blackwell, vol. 60(2), pages 367-385.
    • Handle: RePEc:bla:jageco:v:60:y:2009:i:2:p:367-385
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    References listed on IDEAS

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    1. Frank Asche & Helge Bremnes & Cathy R. Wessells, 1999. "Product Aggregation, Market Integration, and Relationships between Prices: An Application to World Salmon Markets," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 81(3), pages 568-581.
    2. Henry W. Kinnucan & Øystein Myrland, 2002. "The Relative Impact of the Norway-EU Salmon Agreement: a Mid-term Assessment," Journal of Agricultural Economics, Wiley Blackwell, vol. 53(2), pages 195-219.
    3. Kinnucan, Henry W. & Myrland, Oystein, 2002. "Relative Impact of the Norway-EU Salmon Agreement: A Midterm Assessment," 2002 International Congress, August 28-31, 2002, Zaragoza, Spain 24826, European Association of Agricultural Economists.
    4. Martin Ravallion, 1986. "Testing Market Integration," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 68(1), pages 102-109.
    5. Juselius, Katarina, 2006. "The Cointegrated VAR Model: Methodology and Applications," OUP Catalogue, Oxford University Press, number 9780199285679.
    6. Babula, Ronald A. & Newman, Douglas & Rogowsky, Robert A., 2006. "A Dynamic Model of U.S. Sugar-Related Markets: A Cointegrated Vector Autoregression Approach," Journal of Food Distribution Research, Food Distribution Research Society, vol. 37(02), July.
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    Citations

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    Cited by:

    1. Bratsberg, Bernt & Raaum, Oddbjørn & Røed, Knut, 2017. "Immigrant Labor Market Integration across Admission Classes," IZA Discussion Papers 10513, Institute for the Study of Labor (IZA).
    2. Dries Lens & Ive Marx & SunÄ ica Vujić, 2017. "Integrating (former) asylum seekers into the Belgian labour market. What can we learn from the recent past?," Working Papers 1710, Herman Deleeck Centre for Social Policy, University of Antwerp.
    3. Julia Bronnmann & Isaac Ankamah-Yeboah & Max Nielsen, 2016. "Market Integration between Farmed and Wild Fish: Evidence from the Whitefish Market in Germany," Marine Resource Economics, University of Chicago Press, vol. 31(4), pages 421-432.
    4. Cecilia Hammarlund, 2015. "The Big, the Bad, and the Average: Hedonic Prices and Inverse Demand for Baltic Cod," Marine Resource Economics, University of Chicago Press, vol. 30(2), pages 157-177.
    5. Chin-Hwa Jenny Sun & Fu-Sung Chiang & Dale Squires, 2017. "More Landings for Higher Profit? Inverse Demand Analysis of the Bluefin Tuna Auction Price in Japan and Economic Incentives in Global Bluefin Tuna Fisheries Management," Working Papers 1701, Institute of Applied Economics, National Taiwan Ocean University, Taiwan, revised Aug 2017.
    6. Julia Bronnmann & Frank Asche, 2016. "The Value of Product Attributes, Brands and Private Labels: An Analysis of Frozen Seafood in Germany," Journal of Agricultural Economics, Wiley Blackwell, vol. 67(1), pages 231-244, February.
    7. Asche, Frank & Zhang, Dengjun, 2013. "Testing Structural Changes in the U.S. Whitefish Import Market: An Inverse Demand System Approach," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 42(3), December.
    8. Luca Mulazzani & Rosa Manrique & Giovanna Trevisan & Giulio Malorgio, 2015. "Fish market integration and demand analysis: a Mediterranean case study," Agricultural Economics, International Association of Agricultural Economists, vol. 46(1), pages 39-52, January.
    9. Vinuya, Ferdinand D., 2006. "Testing for Market Integration and the Law of One Price in World Shrimp Markets," 2006 Annual Meeting, February 5-8, 2006, Orlando, Florida 35351, Southern Agricultural Economics Association.
    10. Wakamatsu, Hiroki & Miyata, Tsutom, 2016. "Market Integration Analysis of Japan’s Wakame Seaweed Market Before and After the Great East Japan Earthquake," MPRA Paper 70661, University Library of Munich, Germany.
    11. Hiroki Wakamatsu, 2014. "The Impact of MSC Certification on a Japanese Certified Fishery," Marine Resource Economics, University of Chicago Press, vol. 29(1), pages 55-67.
    12. Hiroki Wakamatsu & Tsutomu Miyata, 2016. "Do Radioactive Spills from the Fukushima Disaster Have Any Influence on the Japanese Seafood Market?," Marine Resource Economics, University of Chicago Press, vol. 31(1), pages 27-45.

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