Fisheries: The Lessons of the Grand Banks

May 2011
OECD Observer;May2011, Issue 284, p52
Academic Journal
The article focuses on the economic impact of the decline of cods in the Grand Banks of Newfoundland, and the moratorium imposed by the Canadian government on cod fishing on July 2, 1992. It is noted that the moratorium led to mass layoff that affected fishers, employees of processing plants, wholesale and retail trades, and boat construction. It also highlights the rise of the value of the fish landings in the country in from 1990 to 2006 as cod fishers turn to exploit crab and shrimp


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