Pirate Economics: The Economic Causes and Consequences of Contemporary Maritime Piracy in Sub-Saharan Africa
The past 20 years have witnessed a resurgence of maritime piracy, especially along the East and West coasts of Africa. Much scholarly research has been undertaken on this issue; however a consensus on the primary economic causes of piracy does not exist. This thesis seeks to identify the primary economic causes and consequences of maritime piracy in Somalia and Nigeria specifically, and coastal sub-Saharan Africa more generally. It investigates whether variables such as a lack of employment opportunities, particularly in the fisheries sector, are a causal factor of maritime piracy. These potential causal factors are explored using both case studies and regression analyses. Net exports of fish are found to be a statistically significant predictor of the frequency of piracy, suggesting that a decrease in national fish production and employment in the fisheries sector results in an increase in the occurrence of piracy.