The Price Of Modern Maritime Piracy
AbstractA growing body of literature has recently focused on the economic origins and consequences of modern maritime piracy and on the perception that the international community has failed to control it. This paper aims to investigate maritime transport costs as one of the channels through which modern maritime piracy could have a major impact on the global economy. A transport-cost equation is estimated using a newly released data-set on maritime transport costs from the Organization for Economic Cooperation and Development together with data on maritime piracy from the International Maritime Bureau. Our results show that maritime piracy significantly increases trade costs between Europe and Asia.
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Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal Defence and Peace Economics.
Volume (Year): 24 (2013)
Issue (Month): 5 (October)
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Other versions of this item:
- Inmaculada Martínez-Zarzoso & Sami Bensassi, 2011. "The price of modern maritime piracy," Ibero America Institute for Econ. Research (IAI) Discussion Papers 213, Ibero-America Institute for Economic Research.
- F51 - International Economics - - International Relations, National Security, and International Political Economy - - - International Conflicts; Negotiations; Sanctions
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