Welfare impact of climate change on capture fisheries in Vietnam

United States [78]. However, it is flatter than in Indonesia [82], where people live on islands and rely more on fish for nutrition. The International Model for Policy Analysis of Agricultural Commodities and Trade (IMPACT) of the IFPRI [29] uses a system of price elasticities of fisheries and 22 non-fisheries commodities in 36 regions and countries, including Southeast Asia, to estimate fishery supply and demand functions. It finds that capture fishery price elasticity of supply is between 0.2 and 0.4 worldwide. This study chooses εS = 0.2, as capture in Vietnam is over the maximum sus- tainable yield [72]; consequently, the supply curve tends to be steeper than average. When the price goes up by 1%, its supply grows by 0.2%; other things are equal. Welfare impact of climate change on consumers and producers Replacing the total catches QD = QS0 = 3.2 million tons, the average fish price P0 = 24.5 million dongs per ton in 2018 [2], and the price elasticities εD = -0.16 and εS = 0.20 into the demand and supply functions (2) and (3), we obtain AD = 6.0 and AS = 1.4. Fig 2. Potential decrease in capture yield in early, mid and end of the 21st century by climate change scenarios RCP4.5 and RCP8.5 relative to 2018. https://doi.org/10.1371/journal.pone.0264997.g002 PLOS ONE Welfare impact of climate change on capture fisheries in Vietnam PLOS ONE | https://doi.org/10.1371/journal.pone.0264997 April 25, 2022 10 / 20