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The Integration of the Sea Bream and Sea Bass Market: Evidence from Greece and Spain

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  • The relatively new aquaculture industry of sea bream and sea bass has grown rapidly in Mediterranean countries over the past decade. Greece is the leading production country and Spain is becoming the major market for the two species. Despite the importance of the industry, in that it contributes to the reduction of the EU trade deficit for fisheries products, and provides jobs in remote and rural areas, little effort has been made to analyse the market mainly due to its relatively low contribution to the GDP in production countries. This paper constitutes first step towards the understanding of the price formation mechanism for the market of sea bream and sea bass. Price data is used to test the hypothesis that a single European market for these species exists. Monthly price data are used to test the hypothesis for major markets in Greece and Spain. As most economic time series are non-stationary, cointegration is employed to assess the integration of the market.
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  • Avdelas, Lamprakis and Jordi Guillen. 2006. The Integration of the Sea Bream and Sea Bass Market: Evidence from Greece and Spain. In: Proceedings of the Thirteenth Biennial Conference of the International Institute of Fisheries Economics & Trade, July 11-14, 2006, Portsmouth, UK: Rebuilding Fisheries in an Uncertain Environment. Compiled by Ann L. Shriver. International Institute of Fisheries Economics & Trade, Corvallis, Oregon, USA, 2006. CD ROM. ISBN 0-9763432-3-1
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  • The National Oceanic & Atmospheric Administration Marine Fisheries Service, United States Department of Commerce (NOAA Fisheries); United Kingdom Department for Environment, Food and Rural Affairs (DEFRA); The United States Agency for International Development supported Aquaculture Collaborative Research and Support Program (ACRSP).
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