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http://dx.doi.org/10.3796/KSFT.2014.50.4.502

An analysis on the relationship between prices and catch amounts of sandfish using a cointegration test  

Seo, Young-Il (Fisheries Resources Research Division, NFRDI)
Chung, Young-Hoon (National Fisheries Research and Development Institute)
Kim, Do-Hoon (Department of Marine Business and Economics, Pukyong National University)
Publication Information
Journal of the Korean Society of Fisheries and Ocean Technology / v.50, no.4, 2014 , pp. 502-510 More about this Journal
Abstract
This study aimed to analyze the relationship between catch amount and market price of sandfish for improvement of fishing revenues and effective fisheries management. By estimating the sandfish price function by fishery, the study tried to investigate changes of prices by catch amount as well as changes of fishing revenues by catch amount and price. Results showed that time series data on catch and price were estimated to be non-stationary from unit root tests, but long-term equilibrium relations between catch amount and price were found from a cointegration analysis. Results of regression analyses indicated that the catch amount would have negative impacts on prices of sandfish in both coastal gillnet and danish seine fisheries.
Keywords
Cointegration; Sandfish; Price function; Fisheries management;
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