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http://dx.doi.org/10.12939/FBA.2013.44.3.103

A Study on the Economic Effectiveness of the Artificial Fish Reef Project in the Tae-an Marine Ranching  

Choi, Jong-Du (Department of Business Administration, Cyber University of Korea)
Publication Information
The Journal of Fisheries Business Administration / v.44, no.3, 2013 , pp. 103-109 More about this Journal
Abstract
This paper analyzed that the economic effectiveness of the artificial fish reef project in the Tae-an Marine Ranching. Benefit-cost(B/C) model used to indicate the effects of economic valuation. B/C model is based on the sub-models which are Benefit Cost Ratio(BCR), Net Present Value(NPV) and Internal Ration of Return(IRR). First, the Sum of Incremental Benefit and Cost for total vessel by year in Artificial Fish Reef Area(AFRA) estimated 2,381 million won. And then, using 5.5% discounting rates and the survey data, the sub-models showed economically feasible in the all of analysis and analyzed the results as follows. BCR is 2.66, NPV is 28,014million won, and IRR is 22.78%. In conclusion, these results indicated that the artificial fish reef project in Tae-an Marine Ranching would be increase the income of fishermen as well as fish biomass.
Keywords
Economic effectiveness; Benefit-Cost model; Artificial fish reef project; Tae-an Marine ranching;
Citations & Related Records
Times Cited By KSCI : 2  (Citation Analysis)
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