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Economic shocks in the fisheries sector and maritime piracy

Flückiger, Matthias and Ludwig, Markus. (2015) Economic shocks in the fisheries sector and maritime piracy. Journal of Development Economics, 114. pp. 107-125.

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Official URL: http://edoc.unibas.ch/39911/

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Abstract

For a panel of 109 coastal countries, we show that negative economic shocks in the fisheries sector are associated with an increase in maritime piracy. Our identification strategy uses the variation in the phytoplankton abundance off the individual countries' coasts, measured by satellite data, as a source of such shocks. We find that plankton abundance is positively related to fish catches, but negatively associated with the incidence of piracy, the onset of piracy and the absolute number of pirate attacks. Our instrumental variable estimates indicate that a plankton shock that induces fish capture production to decrease by 10% increases the risk of piracy occurring by 10 percentage points. Similarly, a shock of the same magnitude increases the number of piracy attacks by 8.6%.
Faculties and Departments:06 Faculty of Business and Economics > Departement Wirtschaftswissenschaften > Professuren Wirtschaftswissenschaften > Aussenwirtschaft und Europ. Integration (Weder)
UniBasel Contributors:Flückiger, Mathias and Ludwig, Markus
Item Type:Article, refereed
Article Subtype:Research Article
Publisher:Elsevier Science Publishers
ISSN:0304-3878
Note:Publication type according to Uni Basel Research Database: Journal article
Identification Number:
Last Modified:30 Jun 2016 11:00
Deposited On:17 May 2016 08:48

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