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Determinants of Maritime Transport Costs. A Panel Data Analysis for Latin American Trade

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Abstract

This paper analyses the determinants of transport costs for intra-Latin American trade over a period of six years (1999-2004). The data refer to yearly disaggregated (SITC 5 digit level) maritime trade flows on 277 trade routes. With this data set, a transport costs equation is estimated using linear regression analysis in a panel data framework. The first contribution to the literature is to exploit the greater variability present in our data and to control for unobservable heterogeneous effects. The second is to investigate the influence of open registries on the variability of maritime transport costs. Three groups of explanatory variables are considered. Firstly, timevarying variables: use of open registries and trade imbalance. Secondly, variables related to liner shipping network structures: number of liner services, shipping opportunities, deployed ships and deployed TEUs. Finally, product related variables such as volume of shipment, value of product and special characteristics of the cargo (i.e. refrigerated cargo). The results will allow us to quantify the effect of the explanatory variables on international maritime transport costs and to compare the obtained elasticities with previous cross-section analysis. In particular, estimating the impact of the use of open registries on transport cost is a new contribution in this field that could provide policy makers with valuable information to be used in the implementation of economic policies.

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Bibliographic Info

Paper provided by Ibero-America Institute for Economic Research in its series Ibero America Institute for Econ. Research (IAI) Discussion Papers with number 172.

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Length: 24 pages
Date of creation: 13 May 2008
Date of revision:
Handle: RePEc:got:iaidps:172

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Keywords: International Transport Costs; Maritime Trade; Latin America; Sectoral Data; Time Series; Open Registries; Competitiveness; liner shipping network structure;

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References

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  1. Inmaculada Martinez-Zarzoso & Celestino Suarez-Burguet, 2005. "Transport costs and trade: Empirical evidence for Latin American imports from the European union," The Journal of International Trade & Economic Development, Taylor & Francis Journals, vol. 14(3), pages 353-371.
  2. Martínez-Zarzoso, Inmaculada & Nowak-Lehmann D., Felicitas, 2006. "Is distance a good proxy for transport costs? The case of competing transport modes," Center for European, Governance and Economic Development Research Discussion Papers 54, University of Goettingen, Department of Economics.
  3. I Mart�nez-Zarzoso & L Garc�a-Men�ndez & C Su�rez-Burguet, 2003. "Impact of Transport Costs on International Trade: The Case of Spanish Ceramic Exports," Maritime Economics and Logistics, Palgrave Macmillan, vol. 5(2), pages 179-198, June.
  4. Alejandro Micco & Tomás Serebrisky, 2004. "Infrastructure, Competition Regimes and Air Transport Costs: Cross Country Evidence," Econometric Society 2004 Latin American Meetings 117, Econometric Society.
  5. Ximena Clark & David Dollar & Alejandro Micco, 2004. "Port Efficiency, Maritime Transport Costs and Bilateral Trade," NBER Working Papers 10353, National Bureau of Economic Research, Inc.
  6. Wilmsmeier, Gordon & Hoffmann, Jan & Sanchez, Ricardo J., 2006. "The Impact of Port Characteristics on International Maritime Transport Costs," Research in Transportation Economics, Elsevier, vol. 16(1), pages 117-140, January.
  7. Limao, Nuno & Venables, Anthony J., 1999. "Infrastructure, geographical disadvantage, and transport costs," Policy Research Working Paper Series 2257, The World Bank.
  8. Inmaculada Martinez-Zarzoso & Eva Maria Perez-Garcia & Celestino Suarez-Burguet, 2008. "Do transport costs have a differential effect on trade at the sectoral level?," Applied Economics, Taylor & Francis Journals, vol. 40(24), pages 3145-3157.
  9. Francois, Joseph & Wooton, Ian, 2000. "Trade in International Transport Services: The Role of Competition," CEPR Discussion Papers 2377, C.E.P.R. Discussion Papers.
  10. Baier, Scott L. & Bergstrand, Jeffrey H., 2001. "The growth of world trade: tariffs, transport costs, and income similarity," Journal of International Economics, Elsevier, vol. 53(1), pages 1-27, February.
  11. David Hummels, 2007. "Transportation Costs and International Trade in the Second Era of Globalization," Journal of Economic Perspectives, American Economic Association, vol. 21(3), pages 131-154, Summer.
  12. Dollar, David & Micco, Alejandro & Clark, Ximena, 2002. "Maritime transport costs and port efficiency," Policy Research Working Paper Series 2781, The World Bank.
  13. Jan Hoffmann, 2001. "Latin American Ports: Results and Determinants of Private Sector Participation," Maritime Economics and Logistics, Palgrave Macmillan, vol. 3(2), pages 221-241, June.
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Citations

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Cited by:
  1. Gordon Wilmsmeier & Inmaculada Martínez-Zarzoso & Norbert Fiess, 2010. "Regional Hub Port Development - The Case of Montevideo, Uruguay," Ibero America Institute for Econ. Research (IAI) Discussion Papers 203, Ibero-America Institute for Economic Research.
  2. Bensassi, Sami & Márquez-Ramos, Laura & Martínez-Zarzoso, Inmaculada, 2010. "Economic integration and the two margins of trade: the impact of the Barcelona Process on North African countries’ exports," MPRA Paper 27117, University Library of Munich, Germany.
  3. Munasib, Abdul B.A. & Roy, Devesh, 2011. "Nontariff Barriers as Bridge to Cross," 2012 Conference, August 18-24, 2012, Foz do Iguacu, Brazil 125025, International Association of Agricultural Economists.
  4. Bensassi, Sami & Martínez-Zarzoso, Inmaculada, 2010. "How Costly is Modern Maritime Piracy for the International Community?," MPRA Paper 27134, University Library of Munich, Germany.
  5. Jordan Schwartz & José Luis Guasch & Gordon Wilmsmeier, 2009. "Logistics, Transport and Food Prices in LAC: Policy Guidance for Improving Efficiency and Reducing Costs," IDB Publications 9324, Inter-American Development Bank.
  6. 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.
  7. Wilmsmeier, Gordon & Sanchez, Ricardo J., 2009. "The relevance of international transport costs on food prices: Endogenous and exogenous effects," Research in Transportation Economics, Elsevier, vol. 25(1), pages 56-66.

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