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http://dx.doi.org/10.15266/KEREA.2016.25.4.517

Impact Analysis for Changes in Oil Cost of Anchovy Boat Seine Fishery in South Korea  

Yun, Sang-Don (Department of Applied Economics, Graduate School, Pukyong National University)
Nam, Jongoh (Division of Economics, College of Humanities and Social Sciences, Pukyong National University)
Publication Information
Environmental and Resource Economics Review / v.25, no.4, 2016 , pp. 517-543 More about this Journal
Abstract
This study aims to analyze economic impacts for changes in the oil cost of the anchovy boat seine fisheries in South Korea. As analytical approach, this study employs the exponential surplus production model to estimate the maximum sustainable yield and also utilizes the bioeconomic model to calculate changes in producer surplus of the anchovy boat seine fisheries under the open access responding to changes in the oil cost. As the result of analysis, increases in the oil cost due to prohibition of duty-free oil supply result in the negative impacts to the producer surplus of the anchovy boat seine fisheries in South Korea. However, increases in the oil cost of the anchovy boat seine fisheries lead voluntary exit to fishermen which can no more run their business. As a result, this study shows that fishing efforts of the anchovy boat seine fisheries reduce under the fishing efforts of the maximum sustainable yield ($F_{MSY}$) and stock of the anchovy increases.
Keywords
Supply Function; Open Access; Producer Surplus;
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