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The Fishery as an Economic Base Industry after the Newfoundland Cod Moratorium

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  • In a 2009 paper in Land Economics, Roy, Arnason and Schrank used a newly developed methodology based on cointegration analysis to establish and measure the role of the fishing industry as an economic base industry (and the only such base industry) for the Canadian province of Newfoundland over the period 1961-1994. Since that period, the groundfish harvesting sector has collapsed, although it has been replaced by a crustacean fishery that provides similar value added but is considerably less labor-intensive. At the same time, valuable petroleum deposits have been developed offshore which have resulted in considerable consequent economic activity, perhaps to the extent of establishing a new economic base industry. This study is based on the same methodology as in Roy, Arnason and Schrank, but documents the impact of both the major structural shifts within the fishing industry and the development of competing economic base sectors in petroleum extraction and its derivatives.
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  • Roy, N. The Fishery as an Economic Base Industry after the Newfoundland Cod Moratorium. In: Visible Possibilities: The Economics of Sustainable Fisheries, Aquaculture and Seafood Trade: Proceedings of the Sixteenth Biennial Conference of the International Institute of Fisheries Economics and Trade, July 16-20, Dar es Salaam, Tanzania. Edited by Ann L. Shriver. International Institute of Fisheries Economics and Trade (IIFET), Corvallis, 2012.
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  • AQUAFISH, USAID, NEPAD Planning and Coordination Agency, Norad, The World Bank, Hyatt Regency Dar es Salaam, NAAFE, World Wildlife Fund, United Nations University Fisheries Training Programme, ICEIDA, JICA, JIFRS, The European Association of Fisheries Economists, International Seafood Sustainability Foundation
  • Financial assistance from the Vice-President (Research) and the Faculty of Arts at Memorial University of Newfoundland, and from the Social Sciences and Humanities Research Council of Canada, is gratefully acknowledged.
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