Buyback Programs for Capacity Reduction in the U.S. Atlantic Shark Fishery

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.

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Publication Type:
Journal Article
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Published in:
Journal of Agricultural and Applied Economics, Volume 36, Number 2
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JEL Codes:
Q22; Q28

 Record created 2017-04-01, last modified 2017-08-25

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