Staff Publications

Staff Publications

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    'Staff publications' is the digital repository of Wageningen University & Research

    'Staff publications' contains references to publications authored by Wageningen University staff from 1976 onward.

    Publications authored by the staff of the Research Institutes are available from 1995 onwards.

    Full text documents are added when available. The database is updated daily and currently holds about 240,000 items, of which 72,000 in open access.

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Record number 362106
Title Renewable Resource Regulation and Uncertain Prices: The Role of Financial Structure and Bankruptcy
Author(s) Damania, R.; Bulte, E.H.
Source Resource and Energy Economics 28 (2006)1. - ISSN 0928-7655 - p. 41 - 53.
DOI https://doi.org/10.1016/j.reseneeco.2005.04.004
Department(s) Development Economics Group
MGS
Publication type Refereed Article in a scientific journal
Publication year 2006
Keyword(s) irreversible investment - fisheries - enforcement - management - model
Abstract We analyze the interaction between regulatory policies and the financial structure of a fishery and show that firms with debts may respond differently to regulations than firms that have not accumulated debts. There are conditions where more stringent regulation is counterproductive, providing a perverse incentive to increase harvesting effort. We show that optimal regulation depends on the sector's financial structure, and demonstrate that there are cases when intervention is counterproductive, or too costly to implement. There are also cases where successful regulatory intervention can only be implemented when accompanied by a sufficiently large subsidy.
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