Reports have suggested the global depletion of fish stocks is, in part, due to illegal, unreporte... more Reports have suggested the global depletion of fish stocks is, in part, due to illegal, unreported, or unregulated (IUU) fishing by foreign vessels. To overcome this, lower-income Coastal States that are heavily dependent on fish resources have, at times, been encouraged to invest in their own fleets. In addition to overcoming the IUU issues, investment in domestically-based fleets is argued as a method to increase revenues to the Coastal State. However, there seems to be little acknowledgement of the real opportunity cost of investing in a domestically-based fleet. This paper approaches the issue through the use of a cost-benefit analysis and an input-output model. Additionally, a bioeconomic analysis is employed to estimate the real opportunity cost to any domestic fleet investment. Using these analytical tools, the direct and indirect benefits of a domestically-based fleet were estimated using Tuvalu as a case study. In this case, it was found that a domestically-based fleet would not provide the highest returns to Tuvalu due to the country’s higher comparative production costs and the environmental degradation costs to society. Furthermore, this research discovered potential risks to the proposed regional policies upon which this analysis was based.
Reports have suggested the global depletion of fish stocks is, in part, due to illegal, unreporte... more Reports have suggested the global depletion of fish stocks is, in part, due to illegal, unreported, or unregulated (IUU) fishing by foreign vessels. To overcome this, lower-income Coastal States that are heavily dependent on fish resources have, at times, been encouraged to invest in their own fleets. In addition to overcoming the IUU issues, investment in domestically-based fleets is argued as a method to increase revenues to the Coastal State. However, there seems to be little acknowledgement of the real opportunity cost of investing in a domestically-based fleet. This paper approaches the issue through the use of a cost-benefit analysis and an input-output model. Additionally, a bioeconomic analysis is employed to estimate the real opportunity cost to any domestic fleet investment. Using these analytical tools, the direct and indirect benefits of a domestically-based fleet were estimated using Tuvalu as a case study. In this case, it was found that a domestically-based fleet would not provide the highest returns to Tuvalu due to the country’s higher comparative production costs and the environmental degradation costs to society. Furthermore, this research discovered potential risks to the proposed regional policies upon which this analysis was based.
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Papers by Carl Harris