Management of renewable resources: impementation and welfare effects of alternative policy schemes in the Greek open-sea fishery
1995
Karalanidis, P.
The present work concerns the management of renewable resources and welfare implications of fisheries police measures. Specifically, the empirical part emphasises the estimation of price elasticity of supply for fish in Greece and the implementation of the appropriate policy scenarios for the case of the Greek fisheries, based on a data set for the period of 1964-1991. The examined policy scenarios concern the welfare effects of gear restrictions, licence programmes, and taxation on catch on the Greek open-sea fishery. Results indicated that there is a low responsiveness of Greek fishermen to price signals. Most of the policy schemes will generate a net welfare loss. Producers are the most affected group since they incur a great reduction in their welfare position. Consumers benefit from the reduction of the average price of fish with their surplus rising as the price elasticity of the demand of fish increases. State intervention in the fisheries sector reduces social welfare because of the increasing exchequer cost (since consumers' gains cancel out producers' losses). However, welfare gains will possibly emerge in the case of a tax on the price of fish. The particular estimations refer to short-run effects of the specific policy instruments assuming that compliance of the law is ensured. Finally, the full effect of state intervention will depend on several parameters as other sectors of the economy are influenced
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