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Cointegration: A tool for Ecosystem-Based Conservation and Management of Fisheries

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Abstract
  • Species within marine ecosystems are known to be interconnected. This is a result of many factors including predation and competition for resources. Despite this, many fisheries are still managed using a single species framework. This paper uses cointegration analysis to quantify the relationship between different fish species. Cointegration is a method for examining how time series variables that are integrated (e.g., I(0) or long memory fractional) and move together. Using data from Northern Anchovy, Pacific Sardines, and Albacore Tuna off the California coast, a vector error correction model is estimated which shows a statistically significant relationship between anchovy and tuna harvests. Results suggest financial gains from accounting for external effects between these two fisheries and provide an economic justification for ecosystem based management.
  • Keywords: Environmental, Ecological and Economic Considerations in the Conservation and Management of Forage Fish, Fisheries Economics, Fishery Management
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  • Fissel, Ben, Richard Carson and Wolfram Schlenker. 2010. Cointegration: A tool for Ecosystem-Based Conservation and Management of Fisheries. In: Proceedings of the Fifteenth Biennial Conference of the International Institute of Fisheries Economics & Trade, July 13-16, 2010, Montpellier, France: Economics of Fish Resources and Aquatic Ecosystems: Balancing Uses, Balancing Costs. Compiled by Ann L. Shriver. International Institute of Fisheries Economics & Trade, Corvallis, Oregon, USA, 2010.
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  • US National Oceanic and Atmospheric Administration (NOAA) Fisheries Division, Agence Française de Développement, Ministère de l’Enseignement Supérieur et de la Recherche, Ministère de L’Alimentation de L’Agriculture et de la Pêche, Ministère de l’Énergie, du Développement Durable et de la Mer, La Région Languedoc Rouslilon, Département Hérault, Montpellier Agglomèration, The Department of Fisheries and Oceans, Canada, and AquaFish Collaborative Research Support Program (CRSP).
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