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

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  • José-María Da-Rocha
  • María-José Gutiérrez
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

Suggested Citation

  • José-María Da-Rocha & María-José Gutiérrez, 2006. "The optimality of the Common Fisheries Policy: the Northern Stock of Hake," Spanish Economic Review, Springer;Spanish Economic Association, vol. 8(1), pages 1-21, March.
    • Handle: RePEc:spr:specre:v:8:y:2006:i:1:p:1-21
    DOI: 10.1007/s10108-004-0091-5
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    Cited by:

    1. María-José Gutiérrez & Belén Inguanzo, 2019. "Contributing to Fisheries Sustainability: Inequality Analysis in the High Seas Catches of Countries," Sustainability, MDPI, vol. 11(11), pages 1-20, June.
    2. Marta Escapa & RaÚl Prellezo, 2003. "Fishing Technology and Optimal Distribution of Harvest Rates," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 25(3), pages 377-394, July.
    3. Colla-De-Robertis, Esteban & Da-Rocha, Jose-Maria & García-Cutrin, Javier & Gutiérrez, María-José & Prellezo, Raul, 2018. "A bayesian estimation of the economic effects of the Common Fisheries Policy on the Galician Fleet: a dynamic stochastic general equilibrium approach," MPRA Paper 89944, University Library of Munich, Germany.
    4. Da Rocha, Jose Maria & Gutierrez, Maria Jose, 2004. "La reforma del Principio de Estabilidad Relativa en la Política Pesquera Común: el caso del caladero norte de merluza [The Reform of the Relative Stability Principle: the Northern Stock of Hake]," MPRA Paper 66099, University Library of Munich, Germany.

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