Faculty Profile

Hans-Martin Straume

Associate Professor - Campus Bergen

Department of Economics


Landazuri Concha, Ursula Alejandra; Oglend, Atle, Steen, Marie & Straume, Hans-Martin (2020)

Salmon trout, the forgotten cousin?

Aquaculture Economics & Management Doi: 10.1080/13657305.2020.1857469

Asche, Frank; Oglend, Atle & Straume, Hans-Martin (2020)

Tools of the trade: trade flexibility with respect to margins and buyers

Empirical Economics, s. 1- 25. Doi: 10.1007/s00181-020-01923-2

Access to highly disaggregated trade data allows for a more nuanced investigation of different margins of trade, and the factors known to influence them. In this paper, the number of importers and shipments to each importer is investigated together with the more traditional margins. Potential explanatory factors of these trade margins are combined from three literature strands in addition to the standard gravity variables; firm productivity, per-unit shipment costs and country-specific trade costs. The empirical results show, not unexpectedly, that insights from all these different strands of literature influence trade margins significantly. In particular, the number of shipments per importer increases with distance, degree of remoteness and per-shipment cost, and the number of importers decreases with the distance, remoteness and per-unit shipping cost. This indicates that increased trade costs make exporters economize in existing networks. Finally, disaggregating the data into three main product categories using Rauch’s classification, trade patterns are shown to vary by product group.

Straume, Hans-Martin; Anderson, James L., Asche, Frank & Gaasland, Ivar (2020)

Delivering the goods: The determinants of Norwegian seafood exports

Marine Resource Economics, 35(1), s. 83- 96. Doi: 10.1086/707067

Seafood is the world’s most traded food product. In recent years, aquaculture has become an increasingly important part of seafood production, facilitating increased trade. However, despite evidence that fish farmers have better ability to target markets and ship their seafood through more efficient supply chains (due to the higher degree of control with the production process), little attention has been given to the fact that this is likely to influence trade patterns as well. This article investigates if trade margins for aquaculture products differ from trade in wild seafood products along three margins of trade, in addition to total export value on export data for Norway, the world’s second largest seafood exporting country. The results indicate aquaculture products are different. In particular, aquaculture products are influenced by more factors than fisheries products (such as transportation costs and per-unit shipment costs), highlighting another dimension where the control of the production process can be used to improve competitiveness. Moreover, exports of aquaculture products increase with a country’s wealth level, reflecting producers’ ability to target higher paying markets.

Oglend, Atle & Straume, Hans-Martin (2020)

Futures market hedging efficiency in a new futures exchange: Effects of trade partner diversification

Journal of futures markets, 40(4), s. 617- 631. Doi: 10.1002/fut.22088

This paper uses transaction data to examine hedging efficiency in a new futures exchange; the Fish Pool salmon futures exchange in Norway. The paper utilizes data on firm‐level exporter/importer transaction prices to quantify firm‐level futures hedging efficiency. This allows us to address heterogeneity in hedging efficiency and basis risk at the firm level. The main result of this paper shows that larger firms with greater trade partner diversification have lower basis risk. Such firms align their internal transaction price closer to the common spot price in the market, which encourages greater futures market participation. Results are discussed in light of recent declines in participation in the salmon futures exchange.

Gaasland, Ivar; Straume, Hans-Martin & Vårdal, Erling (2020)

Agglomeration and trade performance – evidence from the Norwegian salmon aquaculture industry

Aquaculture Economics & Management, 24(2), s. 181- 193. Doi: 10.1080/13657305.2019.1708995 - Full text in research archive

Geographical concentration of industries tends to be important for firms that depend on innovation and are intensive in the use of specialized technology and labor. In this paper, we investigate the interaction between agglomeration and trade performance in the Norwegian aquaculture industry. We include a variable for regional clustering in a standard gravity model and estimate its impact on different margins of trade. When controlling for destination country, we find that firms that operate in clusters obtain higher export prices and ship more frequently and in smaller bulks. For a highly perishable product like fresh salmon, this may suggest that firms in clusters are served by more efficient supply chains bringing the product to market with timely and efficient logistics.

Asche, Frank; Gaasland, Ivar, Straume, Hans-Martin & Vårdal, Erling (2020)

Norwegian export of farmed salmon − trade costs and market concentration

Applied Economics Letters, 27(2), s. 145- 149. Doi: 10.1080/13504851.2019.1610702 - Full text in research archive

While variation in unit value most commonly has been associated with quality in the trade literature, observed differences in prices between markets might also be explained by variation in market concentration and the degree of competition. Using transaction data on Norwegian exports of salmon, we introduce a Herfindahl index as a measure of competition in a standard gravity model. We find that competition typically is weaker in small and distant markets that due to high trade costs are served by relatively few firms. We argue that the anti-competitive impact of trade costs may explain price differentiation between markets even for homogeneous products.

Straume, Hans-Martin; Landazuri-Tveteraas, Ursula Alejandra & Oglend, Atle (2019)

Insights from transaction data: Norwegian aquaculture exports

Aquaculture Economics & Management Doi: 10.1080/13657305.2019.1683914 - Full text in research archive

This paper discusses how transaction data can be used to shed light on trade dynamics in seafood exports, with Norwegian salmon exports as the case. There is a large literature on exports and imports of salmon between countries, but less is known about how the heterogeneity of exporters and importers relates to the aggregate data. We utilize transaction data for all exports of salmon in the period 2010–2014 and show that firms involved in salmon exports holds several of the characteristics that are commonly found in the international trade literature, but differs in some important dimensions. Most exporters of salmon connect to relatively many importers and serve many different destination markets. Short-lived trade relations are shown to account for a large share of export values.

Oglend, Atle & Straume, Hans-Martin (2019)

Pricing efficiency across destination markets for Norwegian salmon exports

Aquaculture Economics & Management, 23(2), s. 188- 203. Doi: 10.1080/13657305.2018.1554722 - Full text in research archive

This paper investigates how pricing efficiency of Norwegian salmon exports varies across destination market characteristics. Efficiency is defined as the rate at which individual transaction prices adjust to common market information, and is estimated by dynamic fixed effects panel models with parameters conditional on trade attributes using micro-level trade data. Our results show that contract type (Incoterms) used in transactions can be used to segment the Norwegian export markets into three types: (1) high-value trade to large distant markets, (2) medium-value trade to close high-income markets, and (3) lower-value large bulk trades to lower-income close markets. We find that pricing efficiency is lowest for committed trades over long distance using planes, and highest for less committed large bulk trades to close markets. Despite significant heterogeneity, the majority of salmon price variation (around ¾) is common, providing a clear justification for the representativeness of a salmon price index.

Cojocaru, Andreea-Laura; Asche, Frank, Pincinato, Ruth Beatriz & Straume, Hans-Martin (2019)

Where are the fish landed? An analysis of landing plants in Norway

Land Economics, 95(2), s. 246- 257. Doi: 10.3368/LE.95.2.246 - Full text in research archive

A vast literature in fisheries economics focuses on drivers of fishers’ behavior with limited attention given to what happens once the fish are landed. This often strongly contrasts with a main policy focus on coastal communities, with fisheries management as an additional instrument in supporting livelihoods. This study shows that the number of Norwegian landing plants has been reduced in recent decades, and that quantity landed, annual plant operation time, and attracting smaller vessels decrease the probability of exit. Interestingly, plants in communities with additional landing locations have lower probabilities of exit, pointing to an industry cluster effect

Asche, Frank; Cojocaru, Andreea-Laura, Gaasland, Ivar & Straume, Hans-Martin (2018)

Cod stories: Trade dynamics and duration for Norwegian cod exports

Journal of Commodity Markets Doi: 10.1016/j.jcomm.2017.12.002

In recent years, trade dynamics have been receiving increased attention, and the general literature indicates that commodities are different. In this paper, the duration of trade relationships for Norwegian export firms to various markets is investigated for six product forms of one commodity, cod. The results indicate that the duration of most trade relationships is very short, and shorter than what is normally reported in the literature. Still, the substantial variation in duration by product form and factors influencing it, indicates heterogeneous dynamics for each supply chain even for slight differences in the characteristics of a commodity. Moreover, the short duration of trade relationships in the supply chains for Norwegian cod indicates that they remain very traditional food supply chains, with few attempts at reducing transaction costs through vertical coordination or relationships.

Straume, Hans-Martin (2017)

Here today, gone tomorrow: The duration of Norwegian salmon exports

Aquaculture Economics & Management, 21(1), s. 88- 104. Doi: 10.1080/13657305.2017.1262477

Success in the export markets is not only about entry into markets, but also about survival and export growth. General empirical evidence suggests that high export growth is positively associated with the duration of trade relationships. For exporters of highly perishable goods such as fresh salmon, efficient trade relations are important to prevent loss of product quality as time from harvest to final consumption increases. This research analyzes the duration of trade relationships for Norwegian salmon exports. Using highly disaggregated data for the 1999–2009 period, the trade relations for exports of fresh-farmed salmon from Norway are remarkably short. At the firm-to-country level the mean duration is 4 years, Furthermore, the degree of dynamics increases as the data becomes more disaggregated. Market uncertainty in the form of transportation costs and export to countries in the EU are associated with a larger probability for failure. Factors that are associated with a reduced risk of exiting the market are the size of the initial shipment between the trading partners, continuing large shipments and the size of the exporting firm.

Straume, Hans-Martin (2014)

Currency invoicing in Norwegian salmon export

Marine Resource Economics, 29(4), s. 391- 409. Doi: 10.1086/678930 - Full text in research archive

Straume, Hans-Martin & Vårdal, Erling (2009)

Finanskrisens innvirkning på valutamarkedene

Samfunnsøkonomen, 63(4), s. 60- 68.

Straume, Hans-martin & Vårdal, Erling (2009)

Finanskrisens innvirkning på valutamarkedene

Samfunnsøkonomen, 69(4), s. 60- 68.

Januleviciute, Jurgita; Straume, Hans-Martin & Vårdal, Erling (2008)

Effekten av en nasjons valutavalg på utenrikshandelen

Norsk økonomisk tidsskrift, 122(2), s. 36- 50.

Straume, Hans-Martin; Vårdal, Erling & Asche, Frank (2018)


[Academic lecture]. Aquaculture 2018.

Straume, Hans-Martin; Asche, Frank & Vårdal, Erling (2017)

Perish or prosper: Trade patterns for highly perishable products

[Academic lecture]. EAAE 2017.

Straume, Hans-Martin (2016)

Trade costs and Norwegian salmon export

[Academic lecture]. Forskermøtet 2016.

Straume, Hans-Martin (2016)

Trade duration for seafood

[Academic lecture]. Aquaculture 2016.

Straume, Hans-Martin (2015)

The performance of large versus specialized firms: A study of firms importing apples into Norway.

[Academic lecture]. The 30th Annual Congress of the European Economic Association.

Straume, Hans-Martin (2015)

Duration and Temporary Trade

[Academic lecture]. EAFE15.

Academic Degrees
Year Academic Department Degree
2015 University of Bergen PhD
2005 University of Bergen Master Cand. Oecon
Work Experience
Year Employer Job Title
2015 - Present BI Norwegian Business School Associate Professor
2005 - 2015 BI Norwegian Business School Lecturer
2010 - 2014 University of Bergen/ BI PhD candidate
2005 - 2009 Bergen University College Lecturer