Estimating the impact of fishery industry on marine pollution: New insights from Method of Moments Quantile Regression

Abstract

Indeed, waste from marine may have a significant negative economic impact on coastal towns, tourism, shipping, and fisheries. Given its accumulation and spread, waste from marine may be one of the most urgent dangers to the sustainability of marine life and the health of the EU's waters. By considering the role of production in fisheries, fossil fuel use, economic development, and governance from 1990 to 2022, this research seeks to explore the dynamic influence of the fisheries sector on marine hazardous waste in 27 European nations. At higher quantiles, the findings showed a strong positive association between fisheries capacity production and marine hazardous waste at a 1% statistical level using the new Method of Moments Quantile Regression with fixed effects. From the fifth through the ninth quantiles (≈0.250), fishery output considerably increases marine waste, with a more substantial influence at the highest (≈0.239) and a lower impact at the lowest quantile (≈0.056). The findings also show that affluent countries in the EU14 have more significant at a 1% statistical level beneficial effect on marine waste than developing nations in the EU13. Using fossil fuels increased marine waste across all quantiles at a 1% statistical level. Still, economic development in EU14 developed and EU13 developing countries causes marine waste to decrease, at 1% and 10% statistical levels, respectively, supporting the growth theory for nations that produce fisheries. From the first through the ninth quantiles (≈−6.677) in EU27 nations, the influence of governance was adversely significant at a 1% statistical level. The findings suggest that the developed EU14 countries are more affected negatively by governance on marine waste. Using effective and environmentally friendly technology, policymakers may reduce marine waste in the EU14 and the EU13 nations while achieving sustainable development objectives.