| 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.
by Di Hin 1, Hauke Kite-Powell 2, Porter Hoagland 3 and Andrew Solow 4 all of the Marine Policy Center, Woods Hole Oceanographic Institution, Woods Hole, MA 02543 USA.
Marine Resource Economics http://marineresourceeconomics.com Volume 27, Number 2; June, 2012; pages 137-148.
1. Senior Scientist (djin@whoi.
2. Research Specialist (hauke@whoi.
3. Senior Research Specialist (phoagland@whoi.
4. Senior Scientist and Director (asolow@whoi.
Keywords: Red Sea, traditional fisheries, bioeconomic model, Saudi Arabia
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