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Analysing the profitability of the Spanish fleet after the anchovy moratorium using bootstrap techniques

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  • Garza-Gil, M. Dolores
  • Varela-Lafuente, Manuel M.
  • Caballero-Miguez, Gonzalo
  • Álvarez-Díaz, Marcos

Abstract

Given the low biomass level of the anchovy, the European Commission agreed to establish a moratorium on this species in the Bay of Biscay in 2005. Although the effects of managing the fishing activity with TACs, fees, taxes and ITQs on the stocks and future net profits are well documented in the specialized literature, scarce attention has been paid to analyze the effects of moratoriums on fisheries and the profitability of the fleet. This paper studies if the anchovy moratorium had a significant impact on the economic profitability of the fleet that fishes anchovy and other pelagic species in the North Atlantic waters. For this purpose, we compare the financial situations of the fleet before and after the moratorium from a statistical point of view using bootstrap, which is a flexible non-parametric and computationally intensive methodology. The results reveal the existence of a structural change in the financial performance of the fleet after the implementation of the moratorium.

Suggested Citation

  • Garza-Gil, M. Dolores & Varela-Lafuente, Manuel M. & Caballero-Miguez, Gonzalo & Álvarez-Díaz, Marcos, 2011. "Analysing the profitability of the Spanish fleet after the anchovy moratorium using bootstrap techniques," Ecological Economics, Elsevier, vol. 70(6), pages 1154-1161, April.
    • Handle: RePEc:eee:ecolec:v:70:y:2011:i:6:p:1154-1161
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    1. Caballero-Miguez, Gonzalo & Fernández-González, Raquel, 2015. "Institutional analysis, allocation of liabilities and third-party enforcement via courts: The case of the Prestige oil spill," Marine Policy, Elsevier, vol. 55(C), pages 90-101.
    2. 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.
    3. Caballero-Miguez, Gonzalo & Varela-Lafuente, Manuel M. & Dolores Garza-Gil, María, 2014. "Institutional change, fishing rights and governance mechanisms: The dynamics of the Spanish 300 fleet on the Grand Sole fishing grounds," Marine Policy, Elsevier, vol. 44(C), pages 465-472.

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