Abstract
A cointegration analysis is conducted to examine the effect of fishery subsidies on fisheries production using data compiled over more than 30 years in Japan. The results illustrate that one fishery production indicator (production value per fishermen) shows a positive relationship with one particular group of government financial transfer (GFT) (that is, government general service expenditures including cost for fishery managements, scientific researches, and other administrative activities). No other tested results between GFTs and fishery indicators showed a real relationship. Although further scrutiny is awaited, this study could provide an empirical basis for an argument that, under an effective fishing management system, fisheries subsidies do not necessarily cause production increases or negative impact on fishing stocks.
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