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Scourge of the Seas - Again! Anti-piracy Services and International Trade Costs

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  • Kerr, William A.

Abstract

After near eradication in the 20th century, piracy is again imposing significant costs on the conduct of international trade in the 21st century. In response, there has been a significant increase in the provision of anti-piracy services from both the private and public sectors. The costs associated with providing these services are considerable and it is difficult to assess their cost-effectiveness. The underlying economic forces that affect the efficacy of anti-piracy measures are explored. The conclusion is that a return to the pirate-free status of the latter part of the 20th century is unlikely.

Suggested Citation

  • Kerr, William A., 2013. "Scourge of the Seas - Again! Anti-piracy Services and International Trade Costs," Estey Centre Journal of International Law and Trade Policy, Estey Centre for Law and Economics in International Trade, vol. 14(1), pages 1-18, March.
    • Handle: RePEc:ags:ecjilt:147052
    DOI: 10.22004/ag.econ.147052
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    References listed on IDEAS

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    1. Klein, Benjamin & Crawford, Robert G & Alchian, Armen A, 1978. "Vertical Integration, Appropriable Rents, and the Competitive Contracting Process," Journal of Law and Economics, University of Chicago Press, vol. 21(2), pages 297-326, October.
    2. Coase, R H, 1974. "The Lighthouse in Economics," Journal of Law and Economics, University of Chicago Press, vol. 17(2), pages 357-376, October.
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