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The optimality of the Common Fisheries Policy: the Northern Stock of Hake

José-María Da-Rocha () and María-José Gutiérrez ()
Authors registered in the RePEc Author Service: José María Da Rocha ()

Spanish Economic Review, 2006, vol. 8, issue 1, 1-21

Abstract: We evaluate the management of the Northern Stock of Hake during 1986-2001. A stochastic bioeconomic model is calibrated to match the main features of this fishing ground. We show how catches, biomass stock and profits would have been if the optimal Common Fisheries Policy (CFP) consistent with the target biomass implied by the Fischler's Recovery Plan had been implemented. The main findings are: i) an optimal CFP would have generated profits of more than 667 millions euros, ii) if side-payments are allowed (implemented by ITQ's, for example) these profits increase 26%. Copyright Springer-Verlag Berlin/Heidelberg 2006

Keywords: Common fisheries Policy; fishing regulation; Fischler Recovery Plan (search for similar items in EconPapers)
Date: 2006
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DOI: 10.1007/s10108-004-0091-5

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