The Maximum Sustainable Yield of Artisanal Fishery in Zanzibar: A Cointegration Approach
The objective of this study is to analyze the scope for expanding theartisanal fishery in Zanzibar and to present cointegration as an econometricmethod to estimate the maximum sustainable yield (MSY) in fishery. For thatpurpose the Schaefer and Fox surplus production models are considered.Application of cointegration is discussed to test whether there is atendency to long run equilibrium between catch and effort as assumed bythe surplus production models and implied by the MSY concept. Moreover,estimation of the parameters is dealth with. Application to data relating toartisanal fishery in Zanzibar shows that there is support for a Fox model.Moreover, we find that the current catch is only about 40 percent of theestimated MSY, but the prevalent effort is about two times bigger than theestimated optimum effort. It appears therefore that the fishery in Zanzibaris biologically overfished. Copyright Kluwer Academic Publishers 2001
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Volume (Year): 19 (2001)
Issue (Month): 4 (August)
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- Gallastegui, Carmen, 1983. "An economic analysis of sardine fishing in the Gulf of Valencia (Spain)," Journal of Environmental Economics and Management, Elsevier, vol. 10(2), pages 138-150, June.
- Johansen, Soren, 1988. "Statistical analysis of cointegration vectors," Journal of Economic Dynamics and Control, Elsevier, vol. 12(2-3), pages 231-254.
- Trond Bjorndal & Jon M. Conrad, 1987. "The Dynamics of an Open Access Fishery," Canadian Journal of Economics, Canadian Economics Association, vol. 20(1), pages 74-85, February.
- Johansen, Soren & Juselius, Katarina, 1990. "Maximum Likelihood Estimation and Inference on Cointegration--With Applications to the Demand for Money," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 52(2), pages 169-210, May.
- Munro, Gordon R. & Scott, Anthony D., 1985. "The economics of fisheries management," Handbook of Natural Resource and Energy Economics, in: A. V. Kneese† & J. L. Sweeney (ed.), Handbook of Natural Resource and Energy Economics, edition 1, volume 2, chapter 14, pages 623-676 Elsevier.
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