Input Use and Incentives in the Caribbean Shrimp Fishery: The Case of the Trinidad and Tobago Fleet

Abstract

This paper examines the economic factors that influence output in the Trinidad and Tobago shrimp fishery using a Generalized Leontief production function. Factors such as output prices and the use of inputs in the fishery are assessed. The artisanal and industrial fleets operate in a largely open-access fishery, which is seasonal. While shrimp is the main targeted species, various fish species are also targeted using gear modifications. It was found that for the artisanal shrimp trawl fleet in Trinidad and Tobago, effort, in terms of trip days, was estimated to have a significant effect on both shrimp and bycatch landings at almost similar levels. The relative price of the two species was not found to be significant, and no annual trends in the production of either was observed. However, the high season for shrimp landings, January to June, was found to have significant inverse effects on shrimp and bycatch landings.Generalized Leontief production function, effort, shrimp, Trinidad and Tobago., Community/Rural/Urban Development, Institutional and Behavioral Economics, International Development, Research Methods/ Statistical Methods, Q21, Q22, C33.,