Subsidies—Help or Hurt? A Study from Vietnamese Fisheries

Subsidies are part of the set of management tools that governments apply to modernize their fishing fleets and enable them to engage in offshore and international fisheries. Research has shown that subsidies often lead to overcapacity and overfishing, resulting in the depletion of fish stocks. A few...

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Veröffentlicht in:Marine resource economics 2021-10, Vol.36 (4), p.369-387
Hauptverfasser: Pham, Thuy Thi Thanh, Flaaten, Ola, Nguyen, Luong Trong, Vu, Nghiep Ke
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container_title Marine resource economics
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creator Pham, Thuy Thi Thanh
Flaaten, Ola
Nguyen, Luong Trong
Vu, Nghiep Ke
description Subsidies are part of the set of management tools that governments apply to modernize their fishing fleets and enable them to engage in offshore and international fisheries. Research has shown that subsidies often lead to overcapacity and overfishing, resulting in the depletion of fish stocks. A few studies, however, have found some positive effects for particular subsidies. In this paper, we investigate a credit-linked subsidy scheme in Vietnam, which seems to be justified on the basis of economic, social, and environmental considerations. Both propensity score matching and endogenous switching regression methods are employed for analysis. The results show that the subsidies have had a positive effect on fishermen’s profitability, mainly because of increased revenue rather than reduced cost. However, the subsidies have benefited the owners of only the biggest vessels, and inefficiency in subsidized vessels may threaten resources and profitability in the long term.
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source NORA - Norwegian Open Research Archives
subjects Agriculture and fishery disciplines: 900
Economic analysis
Economics
Fish
Fish stocks
Fisheries
Fisheries science: 920
Fishers
Fishery economics
Fishing fleets
Fiskerifag: 920
Landbruks- og Fiskerifag: 900
Management tools
Offshore
Overcapacity
Overfishing
Subsidies
Underwater resources
VDP
title Subsidies—Help or Hurt? A Study from Vietnamese Fisheries
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