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Blue growth and economics

Author

Listed:
  • Phoebe Koundouri
  • Amerissa Giannouli

Abstract

Oceans and seas represent over 70% of the earth's surface. Furthermore, living aquaticresources can provide a significant contribution to food, energy, and bio-based products. However, marine ecosystems are subject to increasing pressures and competing usages, resulting from resources over-exploitation and pollution. In order to produce efficient marine management plans, it is essential to consider the total economic value provided by the marine ecosystems. In this review, we are focusing on the Marine Framework Strategy Directive and the European Marine Spatial Planning that are established for the protection and efficient use of the marine area. We present the ecosystem services approach with regards to the marine ecosystem and propose economic methods that capture the marine ecosystem's total economic value in relation to the opportunity cost of marine space. Values should be used to guide policy makers following the European directives and initiatives.

Suggested Citation

  • Phoebe Koundouri & Amerissa Giannouli, 2016. "Blue growth and economics," DEOS Working Papers 1607, Athens University of Economics and Business.
    • Handle: RePEc:aue:wpaper:1607
    as

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    References listed on IDEAS

    as
    1. Bertram, Christine & Rehdanz, Katrin, 2013. "On the environmental effectiveness of the EU Marine Strategy Framework Directive," Marine Policy, Elsevier, vol. 38(C), pages 25-40.
    2. Douvere, Fanny, 2008. "The importance of marine spatial planning in advancing ecosystem-based sea use management," Marine Policy, Elsevier, vol. 32(5), pages 762-771, September.
    3. Visbeck, Martin & Kronfeld-Goharani, Ulrike & Neumann, Barbara & Rickels, Wilfried & Schmidt, Jörn & van Doorn, Erik & Matz-Lück, Nele & Ott, Konrad & Quaas, Martin F., 2014. "Securing blue wealth: The need for a special sustainable development goal for the ocean and coasts," Marine Policy, Elsevier, vol. 48(C), pages 184-191.
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