American Economic Journal:
Economic Policy
ISSN 1945-7731 (Print) | ISSN 1945-774X (Online)
Information and Spillovers from Targeting Policy in Peru's Anchoveta Fishery
American Economic Journal: Economic Policy
vol. 15,
no. 4, November 2023
(pp. 390–427)
Abstract
This paper establishes that a targeted policy backfires because it reveals information about nontargeted units. In the world's largest fishery, the regulator attempts to reduce the harvesting of juvenile fish by temporarily closing areas where the share of juvenile catch is high. By combining administrative microdata with biologically richer data from fishing firms, I isolate variation in closures that is due to the regulator's lower-resolution data. I estimate substantial temporal and spatial spillovers from closures. Closures increase total juvenile catch by 48 percent because closure announcements implicitly signal that fishing before, just outside, and after closures is high productivity.Citation
Englander, Gabriel. 2023. "Information and Spillovers from Targeting Policy in Peru's Anchoveta Fishery." American Economic Journal: Economic Policy, 15 (4): 390–427. DOI: 10.1257/pol.20210812Additional Materials
JEL Classification
- D83 Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
- O13 Economic Development: Agriculture; Natural Resources; Energy; Environment; Other Primary Products
- Q21 Renewable Resources and Conservation: Demand and Supply; Prices
- Q22 Renewable Resources and Conservation: Fishery; Aquaculture
- Q28 Renewable Resources and Conservation: Government Policy
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