Market integration between cultured and captured species in developing countries: Lessons from inland areas in Bangladesh
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Market integration between cultured and captured species in developing countries : Lessons from inland areas in Bangladesh. / Hossain, Afjal; Nielsen, Max; Ankamah-Yeboah, Isaac; Badiuzzaman; Huda, Fakir Azmal.
I: Marine Resource Economics, Bind 36, Nr. 2, 2021, s. 155-172.Publikation: Bidrag til tidsskrift › Tidsskriftartikel › Forskning › fagfællebedømt
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TY - JOUR
T1 - Market integration between cultured and captured species in developing countries
T2 - Lessons from inland areas in Bangladesh
AU - Hossain, Afjal
AU - Nielsen, Max
AU - Ankamah-Yeboah, Isaac
AU - Badiuzzaman, null
AU - Huda, Fakir Azmal
N1 - Funding Information: The authors would like to thank the Danish International Development Agency for its financial support through BANGFISH to the project entitled Upgrading Pangasius and Tilapia Value Chains in Bangladesh, number F38A26778. Publisher Copyright: © 2021 MRE Foundation, Inc. All rights reserved.
PY - 2021
Y1 - 2021
N2 - The study tested market integration between cultured fish (tilapia and pangasius) against captured fish (hilsa, swamp barb, prawn, wallago, and long-whiskered catfish) in the domestic market of Bangladesh. The Johansen cointegration framework was applied to identify market integration between cultured and captured species using monthly wholesale price data for the period January 2010 to May 2017. The study showed that the law of one price was rejected in all market pairs except the pangasius and long-whiskered catfish pair, suggesting imperfectly integrated markets. The study revealed mixed evidence of weak exogeneity tests, including cultured and captured led markets as well as bidirectional relationships. Given the fact that cultured fish accounts for a substantial market share, the implication is that the supply growth of aquaculture, all other things being equal, reduces captured fish prices and, subsequently, reduces overexploitation, overcapacity, and the number of fishers in a situation where overexploitation is prevalent. This appears to lead to a double gain in the long run, with fish farmers producing and fishers catching more fish.
AB - The study tested market integration between cultured fish (tilapia and pangasius) against captured fish (hilsa, swamp barb, prawn, wallago, and long-whiskered catfish) in the domestic market of Bangladesh. The Johansen cointegration framework was applied to identify market integration between cultured and captured species using monthly wholesale price data for the period January 2010 to May 2017. The study showed that the law of one price was rejected in all market pairs except the pangasius and long-whiskered catfish pair, suggesting imperfectly integrated markets. The study revealed mixed evidence of weak exogeneity tests, including cultured and captured led markets as well as bidirectional relationships. Given the fact that cultured fish accounts for a substantial market share, the implication is that the supply growth of aquaculture, all other things being equal, reduces captured fish prices and, subsequently, reduces overexploitation, overcapacity, and the number of fishers in a situation where overexploitation is prevalent. This appears to lead to a double gain in the long run, with fish farmers producing and fishers catching more fish.
KW - Captured fish
KW - Competition
KW - Cultured fish
KW - Error correction model
KW - Law of one price
KW - Market integration
KW - Vector
U2 - 10.1086/712802
DO - 10.1086/712802
M3 - Journal article
AN - SCOPUS:85103148354
VL - 36
SP - 155
EP - 172
JO - Marine Resource Economics
JF - Marine Resource Economics
SN - 0738-1360
IS - 2
ER -
ID: 306674255