A Bioeconomic Analysis of Traditional Fisheries in the Red Sea

Handle URI:
http://hdl.handle.net/10754/624952
Title:
A Bioeconomic Analysis of Traditional Fisheries in the Red Sea
Authors:
Jin, Di; Kite-Powell, Hauke; Hoagland, Porter; Solow, Andrew
Abstract:
We undertake a bioeconomic analysis of the aggregate traditional fisheries in the Northern and Central areas of Red Sea off the coast of the Kingdom of Saudi Arabia (KSA). Results of our analysis using a Fox model and the Clarke-Yoshimoto-Pooley (CY&P) estimation procedure suggest that the aggregate traditional fisheries have been overfished since the early 1990s. The estimated stock size in recent years is as low as 6,400 MT, while the estimated stock size associated with the maximum economic yield (MEY) is 19,300 MT. The socially optimal level of fishing effort is about 139,000 days. Thus, the current effort level of 300,000 to 350,000 days constitutes a problem of overfishing. The estimated current total gross revenue from the traditional fisheries is Saudi Rials (SR) 147 million with zero net benefit. If total fishing effort is reduced to the socially optimal level, then we estimate gross revenue would be SR 167 million and the potential net benefit from the KSA Red Sea traditional fisheries could be as large as SR 111 million. Copyright © 2012 MRE Foundation, Inc.
Citation:
Jin D, Kite-Powell H, Hoagland P, Solow A (2012) A Bioeconomic Analysis of Traditional Fisheries in the Red Sea. Marine Resource Economics 27: 137–148. Available: http://dx.doi.org/10.5950/0738-1360-27.2.137.
Publisher:
University of Chicago Press
Journal:
Marine Resource Economics
Issue Date:
15-Jun-2012
DOI:
10.5950/0738-1360-27.2.137
Type:
Article
ISSN:
0738-1360; 2334-5985
Sponsors:
This research was supported by the King Abdullah University of Science and Technology (KAUST) under a research agreement with the Woods Hole Oceanographic Institution (WHOI). We benefitted from the comments of two anonymous reviewers of an earlier version of the article
Appears in Collections:
Publications Acknowledging KAUST Support

Full metadata record

DC FieldValue Language
dc.contributor.authorJin, Dien
dc.contributor.authorKite-Powell, Haukeen
dc.contributor.authorHoagland, Porteren
dc.contributor.authorSolow, Andrewen
dc.date.accessioned2017-06-12T13:52:07Z-
dc.date.available2017-06-12T13:52:07Z-
dc.date.issued2012-06-15en
dc.identifier.citationJin D, Kite-Powell H, Hoagland P, Solow A (2012) A Bioeconomic Analysis of Traditional Fisheries in the Red Sea. Marine Resource Economics 27: 137–148. Available: http://dx.doi.org/10.5950/0738-1360-27.2.137.en
dc.identifier.issn0738-1360en
dc.identifier.issn2334-5985en
dc.identifier.doi10.5950/0738-1360-27.2.137en
dc.identifier.urihttp://hdl.handle.net/10754/624952-
dc.description.abstractWe undertake a bioeconomic analysis of the aggregate traditional fisheries in the Northern and Central areas of Red Sea off the coast of the Kingdom of Saudi Arabia (KSA). Results of our analysis using a Fox model and the Clarke-Yoshimoto-Pooley (CY&P) estimation procedure suggest that the aggregate traditional fisheries have been overfished since the early 1990s. The estimated stock size in recent years is as low as 6,400 MT, while the estimated stock size associated with the maximum economic yield (MEY) is 19,300 MT. The socially optimal level of fishing effort is about 139,000 days. Thus, the current effort level of 300,000 to 350,000 days constitutes a problem of overfishing. The estimated current total gross revenue from the traditional fisheries is Saudi Rials (SR) 147 million with zero net benefit. If total fishing effort is reduced to the socially optimal level, then we estimate gross revenue would be SR 167 million and the potential net benefit from the KSA Red Sea traditional fisheries could be as large as SR 111 million. Copyright © 2012 MRE Foundation, Inc.en
dc.description.sponsorshipThis research was supported by the King Abdullah University of Science and Technology (KAUST) under a research agreement with the Woods Hole Oceanographic Institution (WHOI). We benefitted from the comments of two anonymous reviewers of an earlier version of the articleen
dc.publisherUniversity of Chicago Pressen
dc.subjectBioeconomic modelen
dc.subjectRed Seaen
dc.subjectSaudi arabiaen
dc.subjectTraditional fisheriesen
dc.titleA Bioeconomic Analysis of Traditional Fisheries in the Red Seaen
dc.typeArticleen
dc.identifier.journalMarine Resource Economicsen
dc.contributor.institutionMarine Policy Center, Woods Hole Oceanographic Institution, Woods Hole, MA 02543, United Statesen
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