Suresh, A and Shinoj, P (2018) Capital formation in fisheries sector in India: trends, compositional changes and potential implications for sustainable development. Agricultural Economics Research Review, 31. pp. 111-122.
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Agricultural Economics Research Review_2018_Shinoj P_Capital formation in Marine Fishery.pdf Download (245kB) | Preview |
Abstract
This paper analyses the trends in capital formation in fisheries sub-sector and the responsiveness of fisheries sector to capital formation during the period of 1990-91 to 2014-15. We find structural breaks in capital formation, coinciding with policy changes. There has been a deceleration in capital formation immediate post-liberalisation. The share of fisheries sub-sector in agricultural gross domestic product (GDP) has gradually increased, from 4.3 % in 1994-95 to 5.4% in 2014-15. Correspondingly, the share of fisheries sub-sector in gross fixed capital formation (GFCF) in agricultural sector has increased from 3.4% to 9.7%. However, the efficiency of investment in the fisheries sub-sector has declined; the incremental capital output ratio (ICOR) has increased from 3.2 to 8.3 during this period. The fast decline of the efficiency of capital can be attributed to over-capitalisation of some segments of this sub-sector, particularly marine fisheries characterised by a large number of mechanised fishing vessels. The public capital formation in fisheries as a share of the total pubic capital formation is very low. Inland fisheries also face sustainability issues in terms of environmental degradation. Improving the capital productivity warrants implementation of norms of sustainable fisheries. This requires prioritization of segments for capital infusion and prioritization of geographical locations.
| Item Type: | Article |
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| Uncontrolled Keywords: | Capital formation, Investment, Fisheries, Efficiency, Sustainability |
| Subjects: | Socio Economics and Extension Socio Economics and Extension > Fisheries Economics |
| Divisions: | CMFRI-Kochi > Socio-Economic Evaluation and Technology Transfer Division Subject Area > CMFRI > CMFRI-Kochi > Socio-Economic Evaluation and Technology Transfer Division CMFRI-Kochi > Socio-Economic Evaluation and Technology Transfer Division Subject Area > CMFRI-Kochi > Socio-Economic Evaluation and Technology Transfer Division |
| Depositing User: | Arun Surendran |
| Date Deposited: | 24 Jun 2019 10:08 |
| Last Modified: | 24 Jun 2019 10:08 |
| URI: | http://eprints.cmfri.org.in/id/eprint/13686 |
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