Persistence of fisheries production: a disaggregated analysis in 31 OECD Countries.

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Abstract

Previous studies have focussed on different aspects of fisheries production in several countries. However, the literature has been largely silent on the persistence of fisheries production, which has numerous important policy implications. In this article, we examine time series data corresponding to fisheries production in a group of 31 OECD countries. The analysis focuses on three distinct production series for each country: total fisheries production, aquaculture production, and capture fisheries production, and the time period spans from 1960 to 2020. Using fractional integration methods, the empirical findings provide evidence for persistence in fisheries production and its two components in the majority of the OECD countries examined. Persistence is observed in 29 countries in the case of the total fisheries production, 28 countries in the case of capture fisheries production, and 28 countries in the case of aquaculture production. Evidence of mean reversion is observed in Chile and Colombia for the total fisheries production, and in Belgium, Colombia, and Israel for the capture fisheries production. There is support for mean reversion in aquaculture production data for France, the Netherlands and Poland. An implication of the results is that shocks to the fisheries production or its components are permanent or long-term in nature. Therefore, long-term measures are need to address any disruptions in the fishery sector.