Market Integration of Fish in Europe

M. Nielsen, J.G.P. Smit, J. Guillen

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    66 Citations (Scopus)

    Abstract

    This paper examines market integration between fish species in Europe, taking international market integration into account. Based on Juselius (2006), market integration is found both on the fresh and frozen markets. The Law of One Price is in force on the fresh market within the segments of flatfish and pelagic fish. Assuming transitivity, a loose form of market integration is identified between 13 fresh and seven frozen fish species, and the relative prices are found fairly stable. The policy implication is that catch limitation measures implemented through the Common Fisheries Policy have limited and conditional effects on prices, because of the large size of the market and varying market integration. Therefore, many fishermen are not 'compensated' by price increases as a result of catch limitation measures.
    Original languageEnglish
    Pages (from-to)367-385
    JournalJournal of Agricultural Economics
    Volume60
    Issue number2
    DOIs
    Publication statusPublished - 2009

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