Fishery products consumption : Evidence of persistence and trends in 25 OECD countries

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Abstract

Given the nutritional relevance and health benefits of fishery products consumption, this article examines the statistical properties of fishery products consumption in 25 OECD countries from 1961 to 2017, focusing on the degree of persistence. Using a methodology based on fractional integration, we explore if mean reversion takes place in the series or, if on the contrary, shocks do have a permanent nature. The empirical results show the existence of positive time trends in the majority of countries, the only exceptions being Greece, Japan, Portugal and the UK. Mean reversion is found in 17 out of the 25 countries examined; the unit root null hypothesis cannot be rejected in 7, while Japan is the only country with an order of integration significantly higher than 1. These findings suggest that short-term measures are more effective than long-term interventions in promoting fishery products consumption in most OECD countries. The policy implications are discussed in the final part of the manuscript.