Agricultural and Resource Economics Commons^™

Benefit-Cost Analysis Of Green Infrastructure Investments: Application To Small Urban Projects In Hinesville, Ga, Craig Landry, J Scott Pippin, Mohammadreza Zarei

Journal of Ocean and Coastal Economics

Small scale urban green infrastructure projects can provide local ecological services that should be accounted for in project assessment. Benefits assessment can be expensive and time consuming; benefit transfer provides an economical alternative, but the quality of the analysis depends upon available data. A best-case scenario for many applications of benefit transfer is to utilize a conforming meta-analysis. In this paper, we use the meta-analysis of Bockarjova, et al. (2020) to predict ecological benefits of small scale urban green infrastructure investments in Hinesville, GA. In doing so, we implement a censoring procedure on the benefit transfer function to permit analysis …

Coastal Recreation In Southern New England: Results From A Regional Survey, Marisa J. Mazzotta, Nathaniel H. Merrill, Kate K. Mulvaney

Journal of Ocean and Coastal Economics

This paper presents a summary of coastal recreation of New England residents from a survey conducted in the summer of 2018. The management of New England’s coasts benefits from understanding the value of coastal recreation and the factors influencing recreational behavior. To address this need, the survey collected the geographic location and trip details for both day and overnight visits to any type of location on the New England coast for a range of water recreation activities, providing a comprehensive view of coastal recreation in the region. This paper summarizes participation in various types of water recreation activities, including beachgoing, …

Exploring Perspectives Of The Validity, Legitimacy And Acceptability Of Environmental Valuation Using Q Methodology, Rob Tinch, Isaac Ankamah-Yeboah, Claire Armstrong

Journal of Ocean and Coastal Economics

The extension of market systems and economic appraisal methods to the natural world and allocation of scarce resources is highly controversial and viewed by some as unethical. This has resulted in questions about the appropriate role of valuation and appraisal methods in informing policy and decision-making. We address this issue by assessing the different points of view that exist in marine research, management and policy communities regarding the estimation of monetary values for marine ecosystems and services and their use in appraisal and policy settings. The principal perspectives emerging from a Q-sort survey of x respondents reveal a clear distinction …

Prospects For Valuation In Marine Decision Making In Europe, Rob Tinch, Stephen Hynes, Claire Armstrong, Wenting Chen

Journal of Ocean and Coastal Economics

There is now high-level recognition that the UN Sustainable Development Goals can only be achieved if the decline of ecosystems and biodiversity can be halted and reversed. This will require effective control of ongoing pressures, meaningful protection and enforcement of protected areas, and significant investments in ecosystem restoration. This paper explores the possible use of economic valuation and appraisal in achieving these goals in marine systems and discusses the European marine policy instruments where they should have an important role The paper first briefly reviews the tools of economic valuation and appraisal for marine ecosystem management. A critique of the …

Blue Growth: A Transitions Approach To Developing Sustainable Pathways, Christina Kelly, Ben Mcateer, Frances Fahy, Liam Carr, Daniel Norton, Desiree Farrell, Rebecca Corless, Stephen Hynes, Zacharoula Kyriazi, Agnès Marhadour, Regis Kalaydjian, Wesley Flannery

Journal of Ocean and Coastal Economics

The sustainable management of Blue Growth is an urgent issue for coastal states. Marine industries have rapidly expanded over the last two decades and this is projected to continue with the European Green Deal and post-COVID economic recovery policies. The intensification of Blue Growth could have adverse socio-ecological implications and must, therefore, be managed in terms of sustainability, natural resource boundaries, and coastal community well-being. Managing Blue Growth in a sustainable manner however, is challenging due to the longstanding inefficiencies and inertia of existing marine governance regimes. Adopting a transitions approach has been advanced as a way of steering regime …

Are Small-Scale Fishers In Oman Technically Efficient? The Case Of Al-Batinah Coastal Fisheries, Jaynab Begum Yousuf, Shekar Bose, Msafiri Daudi Mbaga

Journal of Ocean and Coastal Economics

This paper examines technical efficiency and the potential factors affecting it in small-scale harvesting operations involving five key commercial demersal species of Al Batinah coastal fisheries, Oman. A stochastic production frontier (SPF) approach was applied to a pooled data covering the period 2010-2016. There is strong evidence of a considerable extent of technical inefficiency and overutilization of fishing effort (fishing hours). The results from the technical inefficiency model suggested that geographical location and interannual fluctuation of stock were significantly affecting fishers’ efficiency. Finally, the empirical results are discussed along with policy implications and the suitability of the Stochastic Production Frontier …

Eelgrass Restoration In San Francisco Bay: An Interdisciplinary Stated Preference Classroom Experiment, Camille M. Antinori

Journal of Ocean and Coastal Economics

This paper aims to integrate experiential, interdisciplinary approaches into environmental economics courses through a stated preference analysis for eelgrass beds harboring aquatic plants foundational to many estuaries and coastal zones. It argues that such approaches are necessary in undergraduate education to support real-world needs in oceans and climate policy. Through collaboration with ecologists and peers, students developed willingness-to-pay measures of $35 and $42 for a 10-year restoration program for 200 acres of eelgrass (Zostera marina) in the San Francisco Bay based on open- and closed-ended elicitation formats. The experiment provides an example of overcoming the challenge of orienting …

Artisanal Marine Fisheries And Climate Change In The Region Of Lima, Peru, Edelina Coayla

Journal of Ocean and Coastal Economics

This study explores the relationship between climate change and artisanal marine fisheries in the region of Lima, Peru. From the perspective of the economics of climate change and renewable marine resources, the methods of correlations and bivariate regression are employed. A negative relationship is found between the increase in the sea surface temperature (SST) and the marine fishery catches landed at the ports of the Lima region (2004-2017).The higher the SST, the lower fishing effort. It was also found that the SST significantly influences the gross added value of fishing. To reduce the vulnerability of artisanal marine fisheries, the main …

How Are Tourists Affected By Offshore Wind Turbines? A Case Study Of The First U.S. Offshore Wind Farm, Simona Trandafir, Vasundhara Gaur, Priya Behanan, Emi Uchida, Corey Lang, Haoran Miao

Journal of Ocean and Coastal Economics

This paper examines the impact of the construction of United States’ first offshore wind farm off the coast of Block Island on tourism, the largest revenue generator for the island. Using a stated preference survey, we find no negative impact on the number of trips taken by tourists since their construction. We also examine the determinants of tourists’ willingness to pay for different recreational activities on Block Island, both with and without the presence of turbines. We find evidence that prior awareness of wind turbines results in an overall improvement in welfare by approximately 20 million USD in tourism-generated revenue. …

Economic Impacts Of Coastal Hazards On Mississippi Commercial Oyster Fishery From 2005 To 2016, Benedict C. Posadas

Journal of Ocean and Coastal Economics

This paper attempted to quantify the commercial fishery impacts consisting of wild harvest losses of oysters by commercial Mississippi fishers due to coastal hazards since 2005. The economic impacts of coastal hazards on the Mississippi oyster fishery included the direct losses associated with Katrina in 2005, the oil spill in 2010, spillway opening in 2011 and harmful algal blooms in 2015. The cumulative economic direct impacts on the Mississippi oyster reached almost $40 million, averaging about $3.3 million per year. Long-term data were compiled to develop economic recovery models for the Mississippi oyster fishery. The economic recovery model attempted to …

Investing In The New Blue Economy: The Changing Role Of International Development Organizations In Catalyzing Private Sector Investment In Support Of Regional Strategic Action Programmes For The Sustainable Development Of Coasts And Oceans, Ryan Whisnant, Veerle Vandeweerd

Journal of Ocean and Coastal Economics

Over the last 20 years, governments sharing common coastal and ocean ecosystems have developed and agreed on concrete regional action programs to stop and, in some cases, reverse a trend of deteriorating coastal and ocean resources. Implementation of these action programs requires significant investments by the public and private sectors alike, with the potential for substantial economic growth and enhanced social well-being. For this to happen, new institutional arrangements, technologies, and financial vehicles and asset classes are needed to mainstream innovative “blue economy” projects that have the potential to transition economies and communities to more sustainable development paths.

This paper …

Actual Versus Hypothetical Wta Stated Values For Recreational Fishing Licenses: Experimental Evidence Of Fish Tales, Scott Steinback, Kristy Wallmo, Sabrina Lovell, Eric Thunberg, John Foster

Journal of Ocean and Coastal Economics

We compared hypothetical willingness to accept (WTA) values for Massachusetts saltwater recreational fishing licenses with WTA values obtained in an actual (simulated) marketplace. Using a dichotomous choice contingent valuation approach, our results align with past evidence that found WTA values elicited from hypothetical transactions overstate those derived from an actual marketplace. We also provide the first evidence about the effectiveness of an ex-post certainty adjustment technique in a WTA environment. While the adjustment technique has been found to eliminate hypothetical bias in willingness to pay (WTP) settings, we find that when applied in a WTA setting, the approach mitigates but …

Augmenting Marine Food Production Through Fisheries Management And Mariculture, S M. Sharifuzzaman, M I. Golder, M. Shahadat Hossain

Journal of Ocean and Coastal Economics

There is new aspiration of sustainable exploitation of marine resources and to achieve sustainable development goals (SDG 14) in recent years. In this context, this document delineates new scope of venturing into the blue economy relative to marine fisheries and mariculture. Potential interventions in marine fisheries include – (i) expansion of the commercial fishing area (beyond the 80 m depth) for harvesting high value fish species (such as tuna, lakkha), (ii) exploration for new fishing grounds and fisheries, (iii) value addition and reducing post-harvest losses, and (iv) assessment of fisheries stocks for estimation of potential yields and optimum sizes of …

Coming Stakes In The Ocean: Food Production, Shipping And Trade, Tourism, Ecosystem-Biodiversity, New Technologies And Climate Change Challenges In Bangladesh, Muhammad Abdur Rouf, Md. Moshiur Rahman, Sk Mustafizur Rahman, Md Nazmul Ahsan

Journal of Ocean and Coastal Economics

Blue economy is an emerging concept in all over the world where Bangladesh is not in exception. The blue economy of Bangladesh is subject to multiple interlinked activities. Among the major activities, food production, shipping and trade, tourism, ecosystem-biodiversity, new technologies and climate change challenges are the most promising sectors which are discussed in this chapter to project the present and future potential, constrains, ways to overcome in the context of the blue economy of Bangladesh following various published literatures. The review has revealed that Bangladesh has enormous resources which have great potential to uplift the existing economy, improving livelihoods, …

The Costs Of Obtaining Environmental Outcomes Through Coastal Habitat Restoration, Shea Gould, Matthew G. Interis

Journal of Ocean and Coastal Economics

Studies examining the costs of coastal habitat restoration have focused on the cost per acre of restoration or on cost efficiency of various restoration methods. On the other hand, studies examining the benefits of restoration have focused on various ecosystem services that more directly affect welfare including amenity value, storm protection, nutrient retention and biodiversity. We examine a set of 133 Gulf of Mexico coastal habitat restoration projects to estimate the cost of obtaining average annual habitat units (AAHUs), a measure which captures the quantity and, importantly, quality of habitat restored, which is one of the more direct ecosystem service …

Can A Global Fund Help Solve The Global Marine Plastic Debris Problem?, Karen Raubenheimer, Alistair Mcilgorm

Journal of Ocean and Coastal Economics

The problem of marine plastic debris impacts all of the world’s oceans and requires all nations to respond. However, developing States require funds to improve waste management infrastructure and services in order to reduce marine debris at source. Plastics manufacturers and retailers globally must be incentivised to design products for the environment as well as for the collection and end-of-life treatment facilities available within the intended markets. Given the oceans are a global common, we investigate the option of developing a global fund mechanism to progress the necessary actions to reduce plastic waste entering the world’s oceans. This requires consideration …

Missing The Boat? Measuring And Evaluating Local Groundfish Purchases By New England Institutions, Jeffrey K. O'Hara, Loren Mcclenachan

Journal of Ocean and Coastal Economics

The development of local food markets has provided a critical economic opportunity for small farms in New England. The collapse of Gulf of Maine groundfish stocks has motivated an interest in developing similar marketing opportunities for wild-caught, locally abundant seafood. Institutions, particularly schools and colleges, have been identified as a strategic entry point in the supply chain for such products. However, there has been a dearth of research on this topic. We undertake a case study that evaluates purchases of local groundfish by schools and colleges in New England. First, we analyze recently developed secondary data to assess the propensity …

Valuing Coastal Beaches And Closures Using Benefit Transfer: An Application To Barnstable, Massachusetts, Sarina F. Lyon, Nathaniel H. Merrill, Kate K. Mulvaney, Marisa J. Mazzotta

Journal of Ocean and Coastal Economics

Each year, millions of Americans visit beaches for recreation, resulting in significant social welfare benefits and economic activity. Considering the high use of coastal beaches for recreation, closures due to bacterial contamination have the potential to greatly impact coastal visitors and communities. We used readily-available information to develop two transferable models that, together, provide estimates for the value of a beach day as well as the lost value due to a beach closure. We modeled visitation for beaches in Barnstable, Massachusetts on Cape Cod through panel regressions to predict visitation by type of day, for the season, and for lost …

The Economics Of European Eel Management, Hanna Nilsson, Jesper Stage

Journal of Ocean and Coastal Economics

The European eel stock is endangered. The European Union has, therefore, introduced strict policies to try to reverse the eel’s decline and reduce the threats to its survival. However, the European Union’s eel management policy has been implemented on a ‘one-size-fits-all’ basis, where all the affected countries have been given nearly identical targets, regardless of either the individual country’s costs for reducing damages to eels or its importance for the overall eel stock. In this paper, we draw on data from the different national eel management plans as well as from independent studies to compare the cost of measures to …

Economic Evaluation Of Coastal Land Loss In Louisiana, Stephen R. Barnes, Craig Bond, Nicholas Burger, Kate Anania, Aaron Strong, Sarah Weilant, Stephanie Virgets

Journal of Ocean and Coastal Economics

Louisiana has lost approximately 1,880 square miles of land over the past eighty years. Projections suggest that in a future without action, the next fifty years could result in the loss of 1,750 additional square miles of land area. As land loss continues, a large portion of the natural and man-made capital stocks of coastal Louisiana will be at greater risk of damage, either from land loss or from the associated increase in storm damage. We estimate the replacement cost of capital stock directly at risk from land loss ranges from approximately $2.1 billion to $3.5 billion with economic activity …

The Market Transfer Effect In The Hawaiian Longline Fishery: Why Correlation Does Not Imply Causation, Jason D. Scorse, Shaun Richards, Philip King

Journal of Ocean and Coastal Economics

A lot of discussion and controversy has surrounded whether the “market transfer” effect in the Hawaii longline swordfish fishery occurred during the swordfish closure of 2001-2004, because of its potential impacts on sea turtle mortality. The primary academic work in support of the market transfer effect during the closure is a paper by Rausser et al. (2009): “Unintended Consequences: The Spillover Effects of Common Property Regulations.” In this paper, the authors claim to find evidence in support of the market transfer hypothesis.To our knowledge, no analysis has yet been undertaken to assess whether this analysis is sound, and yet it …

From The Orderly World Of Frameworks To The Messy World Of Data: Canada’S Experience Measuring The Economic Contribution Of Maritime Industries, Alejandro De Maio, Christine Irwin

Journal of Ocean and Coastal Economics

This paper extends the frameworks developed by Park and Kildow (2014) to explore the use of supply chains to classify and organize ocean industries. Canada’s experience with measuring the economic contribution of ocean related sectors is discussed; with particular emphasis on illustrating the supply chain approach and of highlighting the multiple practical challenges that arise in defining and measuring the ocean economy. The overall conclusion is that Canada has succeeded in developing a methodological framework that allows it to report, on an annual basis high level estimates of gross domestic product, employment and labour income generated directly and indirectly by …

The New Blue Economy: The Future Of Sustainability, Mark J. Spalding

Journal of Ocean and Coastal Economics

The world’s ocean is the world’s life support. Many human activities have defined a negative relationship with the ocean. Simply put: we dump too much bad stuff in, and we take too much good stuff out. The traditional ocean economy—those ocean-based and ocean-related activities from which humans derive economic benefit— did not acknowledge or honor the ocean’s natural services, nor its finite capacity to take human abuse without undermining those services on which we depend. The “new blue economy” is the term of art for identifying those activities that improve the human relationship with the ocean and for aligning our …

Economic Assessment Of Oceans For Sustainable Blue Economy Development, Maria Corazon M. Ebarvia

Journal of Ocean and Coastal Economics

This paper presents the common approach on blue economy assessment adopted by selected countries in the East Asian Seas region, and results of initial assessment studies. There are many discourses on the definition and scope of blue economy as the ocean space is evolving, driven by innovations, shifting demands, and pressures from changing environment and climate. The ocean economy contributes to the GDP of the EAS countries in varying degrees: 3 % in RO Korea, 4.5 % in the Philippines, 9 % in China, and 13 % in Indonesia. In addition to the ocean economic activities, the ocean also generates …

Ocean Economy Valuation Studies In The Asia-Pacific Region: Lessons For The Future International Use Of National Accounts In The Blue Economy, Alistair Mcilgorm

Journal of Ocean and Coastal Economics

There have been several projects that have addressed the challenges of measuring the ocean economy in the Asia-Pacific region. The paper examines some lessons from these projects and the implications for the future use of national accounts.

Following the Asia Pacific Economic Cooperation (APEC) Bali declaration, the APEC Marine Resource Conservation Working group’s “Measuring the Marine economy” project promoted consistent measurement of the marine economy across the 21 APEC economies against a list of agreed marine industry categories which was developed by an APEC workshop on Easter Island in 2004.

In 2008-09 a Partnership for the Environmental Management of the …

Accounting For The Ocean Economy Using The System Of National Accounts, Raymundo J. Talento

Journal of Ocean and Coastal Economics

The increasing importance to measure the ocean economy cannot be discounted. A number of countries attempted to measure the ocean economy based on their needs and perceptions. At this point, however, there is no agreed scope and coverage of the ocean economy nor is there an agreed operational definition of the variables needed for its measurement. Moreover, there is no internationally endorsed framework that will guide and lead to comparable estimates across countries or regions.

Utilizing the 2008 System of National Accounts (SNA) as a framework, this paper endeavors to estimate the contribution of the ocean economy in the Philippines …

A Statistical Assessment Of Maritime Socioeconomic Indicators For The European Atlantic Area, Javier Fernandez-Macho

Journal of Ocean and Coastal Economics

Ever since the introduction into marine and maritime policy strategies worldwide of the relatively new concept of Blue Growth there has been an increasing interest in developing integrated systems of indicators for the maritime economy.

The Marnet project has been a recent attempt to develop a comparative maritime socioeconomic framework for the European Atlantic area and its database contains a large number of socioeconomic indicators for many maritime activities at different territorial levels that provide the information needed to help analyze and compare the maritime economy of the European Atlantic regions.

However, there are still many gaps with respect to …

The Role Of Economics In Ecosystem Based Management: The Case Of The Eu Marine Strategy Framework Directive; First Lessons Learnt And Way Forward., Soile Oinonen, Tobias Börger, Stephen Hynes, Ann Katrin Buchs, Anna-Stiina Heiskanen, Kari Hyytiäinen, Tiziana Luisetti, Rob Van Der Veeren

Journal of Ocean and Coastal Economics

The EU Marine Strategy Framework Directive (MSFD) sets out a plan of action relating to marine environmental policy and in particular to achieving ‘good environmental status’ (GES) in European marine waters by 2020. Article 8.1 (c) of the Directive calls for ‘an economic and social analysis of the use of those waters and of the cost of degradation of the marine environment’. The MSFD is ‘informed’ by the Ecosystem Approach to management, with GES interpreted in terms of ecosystem functioning and services provision. Implementation of the Ecosystem Approach is expected to be by adaptive management policy and practice. The initial …

Maritime Accounts In The European Union: Coping With Limited Information, Regis Kalaydjian

Journal of Ocean and Coastal Economics

The European Commission's effort to define the scope and components of the maritime economy was initially motivated by the "Integrated Maritime Policy" (2007). This policy package, principally based on coastal environment protection, maritime safety and security, and the European marine observation and data network, also included the development of an EU-wide economic and social database on maritime activities. The IMP database (2009) used experience from EU member states in terms of maritime database development, and conversely was an opportunity to update national contributions.

Later, two other packages contributed to broadening EC's approach. 1) The "Marine Strategy Framework Directive" (2008) was …

Introduction To Special Edition: The Oceans And National Income Accounts: An International Perspective, Charles S. Colgan

Journal of Ocean and Coastal Economics

Introduction to articles in the special edition.