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Technological change and the tragedy of the commons: the Lofoten fishery over hundred and thirty years

Salvanes, Kjell Gunnar; Hannesson, Rögnvaldur; Squires, Dale
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http://hdl.handle.net/11250/163138
Issue date
2008-03
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  • Discussion papers (SAM) [553]
Abstract
Why did the Lofoten cod fishery in Norway – a fishery on one of the world’s richest spawning grounds -

remain less productive than alternative industries until the mid-1960s, despite important modernization of

the fleet and fishing gear, improvements in technology and institutional change? We analyze the effect of

technological change on labor and total factor productivity as well as exit and entry patterns using detailed

data for 130 years. Our findings support the important role of natural resources in productivity and

improvements in welfare in natural resource-based industries. The total factor productivity has risen faster

than labor productivity in the fishery, indicating that the considerable technological progress in this

industry has to some extent been neutralized by the decline in the fish stock. Open access to the fish

resource most probably led to this situation.
Publisher
Norwegian School of Economics and Business Administration. Department of Economics
Series
Discussion paper
2008:5

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