From Open-Access to Individual Quotas: Disentangling the Effects of Policy Reform and Environmental Changes in the Norwegian Coastal Cod Fishery

Florian Diekert, Kristen Lund and Tore Schweder
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Kristen Lund : Dept. of Biosciences
Tore Schweder: Dept. of Economics, University of Oslo, Postal: Department of Economics, University of Oslo, P.O Box 1095 Blindern, N-0317 Oslo, Norway

No 07/2014, Memorandum from Oslo University, Department of Economics

Abstract: Understanding the e ect of introducing property rights to natural resources is central in economics, but empirical analysis is frustrated by the complexity of socioecological systems. We construct a detailed bio-economic model of the Norwegian coastal cod shery, which was closed after 1989, to isolate the e ect of environmental variability. We project stock and harvest forward in the counterfactual scenario of no intervention, showing that the policy had only a small positive impact on Stock biomass, but a pronounced positive e ect on pro ts. The main driver, uncovered by index-number decomposition, is savings in fuel and labor costs.

Keywords: Open access; Property rights; Quasi-experiment; Counterfactual control; Bio-economic modeling; Productivity; North-East Arctic cod (search for similar items in EconPapers)
JEL-codes: C43 D23 Q22 Q28 (search for similar items in EconPapers)
Pages: 36 pages
Date: 2014-03-18
New Economics Papers: this item is included in nep-env
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Persistent link: https://EconPapers.repec.org/RePEc:hhs:osloec:2014_007

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