Rebuilding the Eastern Baltic cod stock under environmental change - Part II: The economic viability of a marine protected area

Christine Roeckmann, Uwe Schneider (), Michael St.John and Richard Tol

No FNU-106, Working Papers from Research unit Sustainability and Global Change, Hamburg University

Abstract: This study adds a cost analysis of the Eastern Baltic cod fishery to the existing model presented in Röckmann et al. (forthcoming). As cost data on this international fishery do not exist, available data from Denmark are extrapolated to the whole international fishery. Additionally, unit and total variable costs are simulated and the sensitivity to a set of different cost-stock and cost-output elasticities is tested. The study supports preliminary conclusions that a temporary marine reserve policy, which focuses on protecting the Eastern Baltic cod spawning stock in ICES subdivision 25, is a valuable fisheries management tool to (a) rebuild the overexploited Eastern Baltic cod stock and (b) increase operating profits. The negative effects of climate change can be postponed for at least 20 years – depending on the assumed rate of future climate change. Including costs in the economic analysis does not change the ranking of management policies as proposed in the previous study where costs were neglected.

Keywords: Development; Baltic cod; cost-stock elasticity; cost-output elasticity; sensitivity analysis; climate change scenario; management; policy; temporal marine reserve (search for similar items in EconPapers)
JEL-codes: Q22 (search for similar items in EconPapers)
Pages: 33 pages
Date: 2006-05, Revised 2006-05
New Economics Papers: this item is included in nep-env
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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