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International fish trade and exchange rates: an application to the trade with salmon and fishmeal

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  • Sigbjorn Tveteras
  • Frank Asche

Abstract

International fish trade is growing, and fish exports represent an important source of foreign currency for many countries. For a few countries the exports are also an essential part of the economy. We revisit the seminal paper of Richardson (1978) that addresses the issue of exchange rate pass-through in commodity markets, but in a multivariate cointegration framework. The multivariate cointegration framework allows us to test common assumptions like exchange rate pass-through, leading price, central markets, and exogeneity of exchange rates. This approach is particularly suited when studying markets for primary products. We provide empirical examples using salmon imports to Japan and fish meal exports from Peru to Germany.

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  • Sigbjorn Tveteras & Frank Asche, 2008. "International fish trade and exchange rates: an application to the trade with salmon and fishmeal," Applied Economics, Taylor & Francis Journals, vol. 40(13), pages 1745-1755.
    • Handle: RePEc:taf:applec:v:40:y:2008:i:13:p:1745-1755
    DOI: 10.1080/00036840600905134
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    References listed on IDEAS

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    1. Delgado, C.L. & Wada, N. & Rosegrant, M.W. & Meijer, S. & Ahmed, M., 2003. "Fish to 2020: supply and demand in changing global markets," Monographs, The WorldFish Center, number 15796, April.
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    Cited by:

    1. Misund, Bard, 2016. "Common and Fundamental Risk Factors in Shareholder Returns of Norwegian Salmon Producing Companies," UiS Working Papers in Economics and Finance 2016/17, University of Stavanger.
    2. Straume, Hans-Martin, 2013. "Currency invoicing in Norwegian salmon export," Working Papers in Economics 11/13, University of Bergen, Department of Economics.
    3. Deepika Krishnan & Vishal Dagar, 2022. "Exchange Rate and Stock Markets During Trade Conflicts in the USA, China, and India," Global Journal of Emerging Market Economies, Emerging Markets Forum, vol. 14(2), pages 185-203, May.
    4. Asche, Frank & Oglend, Atle, 2016. "The relationship between input-factor and output prices in commodity industries: The case of Norwegian salmon aquaculture," Journal of Commodity Markets, Elsevier, vol. 1(1), pages 35-47.
    5. Frank Asche & Atle G. Guttormsen, 2014. "Seafood Markets and Aquaculture Production: Special Issue Introduction," Marine Resource Economics, University of Chicago Press, vol. 29(4), pages 301-304.
    6. Stefano Mainardi, 2018. "Fishing vessel efficiency, skipper skills and hake pricetransmission in a small island economy," Review of Agricultural, Food and Environmental Studies, INRA Department of Economics, vol. 99(3-4), pages 215-251.
    7. Dengjun Zhang & Henry W. Kinnucan, 2014. "Exchange Rate Volatility and US Import Demand for Salmon," Marine Resource Economics, University of Chicago Press, vol. 29(4), pages 411-430.
    8. Sigbjorn Tveteras & Carlos Paredes & Julio Peña, 2011. "Individual Fishing Quotas in Peru: Stopping the Race for Anchovies," ILADES-UAH Working Papers inv263, Universidad Alberto Hurtado/School of Economics and Business.
    9. Vasilii Erokhin & Gao Tianming & Anna Ivolga, 2021. "Cross-Country Potentials and Advantages in Trade in Fish and Seafood Products in the RCEP Member States," Sustainability, MDPI, vol. 13(7), pages 1-40, March.
    10. Asche, Frank & Misund, Bard & Oglend, Atle, 2015. "The Spot-Forward Relationship in the Atlantic Salmon Market," UiS Working Papers in Economics and Finance 2015/16, University of Stavanger.
    11. Tatyana Chesnokova & Stephanie McWhinnie, 2019. "International Fisheries Access Agreements and Trade," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 74(3), pages 1207-1238, November.
    12. Eriko Hoshino & Caleb Gardner & Sarah Jennings & Klaas Hartmann, 2015. "Examining the Long-Run Relationship between the Prices of Imported Abalone in Japan," Marine Resource Economics, University of Chicago Press, vol. 30(2), pages 179-192.
    13. Misund, Bård, 2018. "Common and fundamental risk factors in shareholder returns of Norwegian salmon producing companies," Journal of Commodity Markets, Elsevier, vol. 12(C), pages 19-30.

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