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

Published online by Cambridge University Press:  28 April 2015

Sherry L. Larkin ,
Walter Keithly ,
Charles M. Adams  and
Richard F. Kazmierczak Jr.
Sherry L. Larkin
Affiliation:
Department of Food and Resource Economics, University of Florida, Gainesville, FL
Walter Keithly
Affiliation:
Coastal Fisheries Institute, Louisiana State University, Baton Rouge, LA
Charles M. Adams
Affiliation:
Department of Food and Resource Economics, and marine economics specialist, Florida Sea Grant, University of Florida, Gainesville, FL
Richard F. Kazmierczak Jr.
Affiliation:
Center for Natural Resource Economics & Policy, Department of Agricultural Economics and Agribusiness, Louisiana State University, Baton Rouge, LA
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Abstract

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.

Keywords

buyback programsfishing capacityfishing permitslatent permitsmarine fisheriesvessel decommissioning schemesQ22Q28
Type
Invited Paper Sessions
Information
Journal of Agricultural and Applied Economics , Volume 36 , Issue 2 , August 2004 , pp. 317 - 332
Copyright
Copyright © Southern Agricultural Economics Association 2004

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