Estimating the economic loss of recent North Atlantic fisheries management
It is accepted that world's fisheries are not generally exploited at their biological or their economic optimum. Most fisheries assessments focus on the biological capacity of fish stocks to respond to harvesting and few have attempted to estimate the economic efficiency at which ecosystems are...
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ftird:oai:ird.fr:fdi:010063718 2023-05-15T17:27:49+02:00 Estimating the economic loss of recent North Atlantic fisheries management Merino, G. Barange, M. Fernandes, J. A. Mullon, Christian Cheung, W. Trenkel, V. Lam, V. ATLANTIQUE NORD 2014 http://www.documentation.ird.fr/hor/fdi:010063718 EN eng http://www.documentation.ird.fr/hor/fdi:010063718 oai:ird.fr:fdi:010063718 Merino G., Barange M., Fernandes J. A., Mullon Christian, Cheung W., Trenkel V., Lam V. Estimating the economic loss of recent North Atlantic fisheries management. Progress in Oceanography, 2014, 129 (SI), p. 314-323. text 2014 ftird 2020-08-21T06:53:07Z It is accepted that world's fisheries are not generally exploited at their biological or their economic optimum. Most fisheries assessments focus on the biological capacity of fish stocks to respond to harvesting and few have attempted to estimate the economic efficiency at which ecosystems are exploited. The latter is important as fisheries contribute considerably to the economic development of many coastal communities. Here we estimate the overall potential economic rent for the fishing industry in the North Atlantic to be Be 12.85, compared to current estimated profits of BE 0.63. The difference between the potential and the net profits obtained from North Atlantic fisheries is therefore Be 12.22. In order to increase the profits of North Atlantic fisheries to a maximum, total fish biomass would have to be rebuilt to 108 Mt (2.4 times more than present) by reducing current total fishing effort by 53%. Stochastic simulations were undertaken to estimate the uncertainty associated with the aggregate bioeconomic model that we use and we estimate the economic loss NA fisheries in a range of 2.5 and 32 billion of euro. We provide economic justification for maintaining or restoring fish stocks to above their MSY biomass levels. Our conclusions are consistent with similar global scale studies. Text North Atlantic IRD (Institute de recherche pour le développement): Horizon |
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IRD (Institute de recherche pour le développement): Horizon |
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It is accepted that world's fisheries are not generally exploited at their biological or their economic optimum. Most fisheries assessments focus on the biological capacity of fish stocks to respond to harvesting and few have attempted to estimate the economic efficiency at which ecosystems are exploited. The latter is important as fisheries contribute considerably to the economic development of many coastal communities. Here we estimate the overall potential economic rent for the fishing industry in the North Atlantic to be Be 12.85, compared to current estimated profits of BE 0.63. The difference between the potential and the net profits obtained from North Atlantic fisheries is therefore Be 12.22. In order to increase the profits of North Atlantic fisheries to a maximum, total fish biomass would have to be rebuilt to 108 Mt (2.4 times more than present) by reducing current total fishing effort by 53%. Stochastic simulations were undertaken to estimate the uncertainty associated with the aggregate bioeconomic model that we use and we estimate the economic loss NA fisheries in a range of 2.5 and 32 billion of euro. We provide economic justification for maintaining or restoring fish stocks to above their MSY biomass levels. Our conclusions are consistent with similar global scale studies. |
format |
Text |
author |
Merino, G. Barange, M. Fernandes, J. A. Mullon, Christian Cheung, W. Trenkel, V. Lam, V. |
spellingShingle |
Merino, G. Barange, M. Fernandes, J. A. Mullon, Christian Cheung, W. Trenkel, V. Lam, V. Estimating the economic loss of recent North Atlantic fisheries management |
author_facet |
Merino, G. Barange, M. Fernandes, J. A. Mullon, Christian Cheung, W. Trenkel, V. Lam, V. |
author_sort |
Merino, G. |
title |
Estimating the economic loss of recent North Atlantic fisheries management |
title_short |
Estimating the economic loss of recent North Atlantic fisheries management |
title_full |
Estimating the economic loss of recent North Atlantic fisheries management |
title_fullStr |
Estimating the economic loss of recent North Atlantic fisheries management |
title_full_unstemmed |
Estimating the economic loss of recent North Atlantic fisheries management |
title_sort |
estimating the economic loss of recent north atlantic fisheries management |
publishDate |
2014 |
url |
http://www.documentation.ird.fr/hor/fdi:010063718 |
op_coverage |
ATLANTIQUE NORD |
genre |
North Atlantic |
genre_facet |
North Atlantic |
op_relation |
http://www.documentation.ird.fr/hor/fdi:010063718 oai:ird.fr:fdi:010063718 Merino G., Barange M., Fernandes J. A., Mullon Christian, Cheung W., Trenkel V., Lam V. Estimating the economic loss of recent North Atlantic fisheries management. Progress in Oceanography, 2014, 129 (SI), p. 314-323. |
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1766120119566598144 |