Economic impacts of seafood production growth targets in Ireland |
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| Institution: | 1. Socio-Economic Marine Research Unit (SEMRU), J.E. Cairnes School of Business and Economics, National University of Ireland, Galway, Ireland;2. Agri-Food and Bioscience Institute, Belfast, UK;3. Institute for International Integration Studies, Trinity College Dublin, Ireland;4. Rural Economy Research Centre, Teagasc, Athenry, County Galway, Ireland;1. Columbia University, Sustainable Development PhD Program, School of International and Public Affairs, Earth Institute, 420 West 118th Street, 6th Floor, Mailbox #3, New York, NY 10027, United States;2. Natural Resources Defense Council, 40 W 20th Street, New York, NY 10011, United States |
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| Abstract: | This paper examines the potential economic impact of the Irish government strategy for the development of the seafood sector in Ireland, Food Harvest 2020 (FH2020). The seafood industry accounts for a large proportion of income and employment in peripheral coastal areas. Many of these regions are predominantly rural and they are largely dependent on the primary fisheries sector. Moreover, the services and retail businesses in these areas are heavily dependent on direct spending from the fisheries, aquaculture and seafood processing sectors. A social accounting matrix (SAM) approach with (1) set to zero purchase coefficients for all directly impacted industries and (2) changes in output converted to final demand shocks is used to calculate the economic and employment impact on the rest of the economy from an increase in the output in the fisheries, aquaculture and seafood processing sectors in Ireland. The results suggest fisheries sectors have strong links with the rest of the economy hence an important economic impact from a policy perspective. |
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| Keywords: | Economic impact Social accounting matrix Irish seafood sector Employment multiplier |
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