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Title: Buyback Programs for Capacity Reduction in the U.S. Atlantic Shark Fishery
Authors: Larkin, Sherry L.
Keithly, Walter R., Jr.
Adams, Charles M.
Kazmierczak, Richard F., Jr.
Keywords: buyback programs
fishing capacity
fishing permits
latent permits
marine fisheries
vessel decommissioning schemes
JEL Codes: Q22
Issue Date: 2004-08
Abstract: Declining fishery stocks, increasing fishing effort and adverse market conditions have produced difficult financial situations for fishermen worldwide. Several high-valued fisheries are considered to be overcapitalized. The purchase and permanent retirement of fishing vessels and/or permits under a buyback program is one approach for reducing fishing capacity. Evidence from previous programs, however, suggests that buybacks are not a panacea for solving overcapacity problems. Whether such programs can help rebuild stocks and improve the financial condition of fleets in any specific fishery depends on a multitude of factors. We consider the potential of a buyback program for the U.S. Atlantic shark fishery.
Institution/Association: Journal of Agricultural and Applied Economics>Volume 36, Number 02, August 2004
Total Pages: 16
From Page: 317
To Page: 332
Collections:Volume 36, Number 02, August 2004

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