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Price linkages in Pacific tuna markets: implications for the South Pacific Tuna Treaty and the Western and Central Pacific region

Published online by Cambridge University Press:  17 November 2006

DALE SQUIRES ,
TAEKWON KIM ,
YONGIL JEON  and
RAYMOND CLARKE
DALE SQUIRES
Affiliation:
NOAA Fisheries, Southwest Fisheries Science Center, 8604 La Jolla Shores Drive, La Jolla, CA 92037, USA. Email: [email protected]
TAEKWON KIM
Affiliation:
Graduate School of International Studies, Yonsei University, Seoul, Korea.
YONGIL JEON
Affiliation:
Department of Economics, Central Michigan University, USA.
RAYMOND CLARKE
Affiliation:
NOAA Fisheries, Pacific Island Regional Office, Honolulu, USA.
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Abstract

A revenue-sharing arrangement is under consideration between the USA and Western and Central Pacific Island Parties. When the ex-vessel price for cannery-grade skipjack tuna is above a minimum price, Pacific Island Parties would share in the increased revenue. This arrangement would provide economic incentives to these island nations to control fishing capacity and thereby increase revenues and economic rents. This potential arrangement raises the issue of which market and species prices to use as a benchmark, Bangkok or Pago-Pago; American Samoa and skipjack or yellowfin tuna. This paper, through a time series analysis of spatial price linkages, finds price leadership for skipjack in Bangkok. Macroeconomic and regional economic implications of enhanced price stability and higher revenues in the region are also discussed.

Type
Research Article
Information
Environment and Development Economics , Volume 11 , Issue 6 , December 2006 , pp. 747 - 767
Copyright
2006 Cambridge University Press

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Footnotes

The authors are grateful to the US tuna industry and Chris Reid of the Forum Fishing Agency for providing data and for information, comments, and suggestions. The authors are also grateful to Ron Felthoven, Eric Thurnberg, and three anonymous reviewers for comments and suggestions. The results are not necessarily those of the US tuna industry, Forum Fishing Agency, or NOAA Fisheries. The authors remain responsible for any remaining errors.