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Cost-Benefit Analysis of the Greenland Offshore Shrimp Fishery

Niels Vestergaard (), Kristiana A. Stoyanova () and Claas Wagner ()

No 98/10, Working Papers from University of Southern Denmark, Department of Sociology, Environmental and Business Economics

Abstract: This paper examines the social economic value of the Greenland off-shore shrimp fishery. The contribution of the fishery to the economy is examined us-ing a cost-benefit analysis where the objective of the report is to examine the current state of the fishery rather than possible changes, which are a political decision. The analysis is undertaken by examining the state and development of the off-shore shrimp fishery in Greenland, as well as the changes in profits, sales and production in the years 2006 and 2007. Financial accounts and costs data pro-vided by the companies fishing in Greenland have contributed to estimating the net value of the industry. The management cost is included as well in the analysis. The paper concludes that there is a positive economic benefit from the shrimp fishery in Greenland, which is believed to be caused by the efficient manage-ment system of the fishery (based on Individual Transferable Quotas). It is fur-ther shown that the companies and the crew gains nearly the whole net-benefit from the fishery, while the public finance are not gaining much. Acknowledgements. We want to thank the contact persons from the companies and Greenland Statistics: Søren Brandt (Qajaq Trawl), Carl Christensen (Niisa Trawl), Jens Bisgaard (Royal Greenland and Ice Trawl), Henrik Krogh and Kjeld Holmstrup (Polar Seafood) and Gert Schmidt, Per Lyster Pedersen and Lars Geraa from Greenland Statistics. We also want to thank Henrik Leth and Jens K. Lyberth from the Confederation of Greenland Employers for good discussions and help during the project as well as financial support. The study was made possible thanks to financial support from the Confederation of Greenland Employers.

Keywords: Greenland; shrimp; fishery; Cost-Benefit Analysis; economic rent (search for similar items in EconPapers)
Pages: 40 pages
Date: 2010-02
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