In 2014, developing countries were responsible for 56.5% of total value of seafood imported by the EU; however, their import value only grew 56% relative to 1999. During the same period, China, gained over 300% growth in this market. The EU’s General System of Preferences (GSP) scheme provides duty-free or...
A food consumption revolution is taking place in Russia. After decades of severe constraints on food consumption options under the communist regime Russian consumers are now adopting new food products - including seafood products - at a high pace. Since Russian consumers have had limited seafood consumption choices before, the...
Several factors contribute to the productivity of nations' fisheries: (1) The biophysical conditions that determine the abundance of fish stocks, (2) government regulation of fisheries, and (3) innovation and adoption of (i.e. investments in) new fishing technologies. This paper analyzes the long-run productivity performance of three Nordic countries Iceland, Norway...
This paper analyses the factors explaining productivity and efficiency differences across salmon aquaculture farms, with an emphasis on agglomeration externalities. We specify a stochastic frontier production model with agglomeration indexes included in both the frontier production function and the technical inefficiency model. The frontier model is estimated on a rich...
Increased livestock and aquaculture production can put pressure on the fishmeal market, and thus industrial fisheries stocks, since both of these sectors use fishmeal in their feeds. Data indicate that fishmeal supply has reached a production limit due to limited marine resources. Meanwhile there has been an explosive growth in...
Russia is experiencing deep structural changes in many areas. For the seafood industry important developments are large increases in household incomes, development of modern super- and hypermarket distribution channels, and product innovations. In the seafood category consumers are adopting new species and new product forms at a rapid rate. Herring...
Fishing overcapacity has lead to unsustainable harvesting and rent dissipation in global fisheries. Only government intervention of some kind can lead to a reduction in capacity. If efficiency is the primary objective for the regulator, then the least efficient vessels should be decommissioned. Here we analyze the Swedish fishery using...
In industries that are characterized by frequent innovations and high productivity growth, substantial variation in both produced quantity and input use may occur and lead to increased cost. As both excessive input use and misallocation of inputs are costly for the producer, firm-specific measures of both technical and allocative inefficiency...
The concept of rents has a venerable history in economic theory. In his fundamental work on the Wealth of Nations, Adam Smith defined the concept making it clear that rents were distinct from profits. Ricardo, building on the foundation laid by Adam Smith, similarly distinguished between profits and rents in...
Discount rates, it is well-known, play an important role in the determining optimal extraction paths for natural resources. In fisheries analysis, as well as other natural resource use, constant discount rates are customarily assumed. In practical applications, the constant discount rate is often taken to be the social rate of...
In 2009 the World Bank published a study of the economic performance of the global marine fishery pertaining to the base year 2004. The key finding of this study was that the global fishery in 2004 was economically and biologically highly inefficient. More precisely, the difference between attainable and actual...
To run the ITQ system as well as other components of the fisheries management system, the Icelandic government conducts a number of activities which may be regarded as fisheries management services. The most important of these are performed by (i) the Fisheries Directorate which maintains the quota registry and enforces...
Many ITQ fisheries are subject to an upper limit or cap on ITQ-holdings by individual companies. The economic rationale for these caps seems to be to reduce the opportunities for monopolistic behaviour by the companies. A possible social cost of the caps is that limiting company size in fisheries, especially...
ITQ systems generate ITQ prices. For any given ITQ-managed species there are typically two prices. One is for the annual (or seasonal) quota, the other is for the longer lasting ITQ-share. In well-functioning ITQ markets, these prices reveal important information about the fishery. In the single species framework, prices of...
Atmospheric measurements show that so-called greenhouse gases have been accumulating in the
Earth’s atmosphere for well over a century. There are strong indications that human activity
plays a significant role in this process. One consequence of the accumulation of greenhouse
gases is thought to be an increase in global temperatures...
If fisheries management is supposed to affect behaviour, it has to be enforced. Fisheries
enforcement has generally been found to be quite costly compared to the attainable rents from
the fishery. This has a number of important implications. First, obviously, it is economically
important to operate the enforcement activity at...
It is now widely recognized that property rights based fisheries management regimes are well
suited for generating efficiency in fisheries. Apart from access licences, which are very low
quality property rights, individual quotas (IQs) and individual transferable quotas (ITQs) are the
most widely applicable and, indeed, the most commonly applied...
The concept of natural resource rents is much used in the natural resource and fisheries
economics literature. It is therefore somewhat surprising that in this same literature it is difficult
to find a clear definition of either natural resource rents or fisheries rents. Possibly, as a result,
the concept is...
It is often taken for granted that taxation of rents is economically nondistortive. In certain areas of natural resource use, e.g. oil extraction and fisheries, this nondistortion principle has been used to justify taxation of what is regarded as resource rents. This paper challenges the view that such taxation is...
It has been established that the path of a fishery over time, i.e. stocks, fleets, effort and profits, depends inter alia on the enforcement of the fisheries management rules in place. It has further been established that optimal enforcement of fisheries management rules depends inter alia on the shadow value...