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

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  • José-María Da-Rocha

    ()

  • María-José Gutiérrez

    ()

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 findings 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%. Copyright Springer-Verlag Berlin/Heidelberg 2006

Suggested Citation

  • José-María Da-Rocha & María-José Gutiérrez, 2006. "The optimality of the Common Fisheries Policy: the Northern Stock of Hake," Spanish Economic Review, Springer;Spanish Economic Association, vol. 8(1), pages 1-21, March.
  • Handle: RePEc:spr:specre:v:8:y:2006:i:1:p:1-21
    DOI: 10.1007/s10108-004-0091-5
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    References listed on IDEAS

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    1. Weitzman, Martin L., 2002. "Landing Fees vs Harvest Quotas with Uncertain Fish Stocks," Journal of Environmental Economics and Management, Elsevier, vol. 43(2), pages 325-338, March.
    2. Tauchen, George, 1986. "Finite state markov-chain approximations to univariate and vector autoregressions," Economics Letters, Elsevier, vol. 20(2), pages 177-181.
    3. Da Rocha, Jose Maria & Gutierrez, Maria Jose, 2004. "La reforma del Principio de Estabilidad Relativa en la Política Pesquera Común: el caso del caladero norte de merluza
      [The Reform of the Relative Stability Principle: the Northern Stock of Hake]
      ," MPRA Paper 66099, University Library of Munich, Germany.
    4. M. Garza-Gil, 1998. "ITQ Systems in Multifleet Fisheries," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 11(1), pages 79-92, January.
    5. 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.
    6. Eirik Amundsen & Trond Bjørndal & Jon Conrad, 1995. "Open access harvesting of the Northeast Atlantic minke whale," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 6(2), pages 167-185, September.
    7. 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.
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    Cited by:

    1. Escapa García, Marta & Prellezo, Raúl, 1999. "Fishing Technology and Optimal Distribution of Harvest Rates," BILTOKI 1999-07, Universidad del País Vasco - Departamento de Economía Aplicada III (Econometría y Estadística).
    2. Da Rocha, Jose Maria & Gutierrez, Maria Jose, 2004. "La reforma del Principio de Estabilidad Relativa en la Política Pesquera Común: el caso del caladero norte de merluza
      [The Reform of the Relative Stability Principle: the Northern Stock of Hake]
      ," MPRA Paper 66099, University Library of Munich, Germany.

    More about this item

    Keywords

    Common fisheries Policy; fishing regulation; Fischler Recovery Plan;

    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

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