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Major Projects That Influence World Trade

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  • George Cornel Dumitrescu

    (Finance and Accounting Department, Nicolae Titulescu University, Bucharest, Romania)

Abstract

In 1869, with the opening of the Suez Canal, world trade entered a new era of development. The commercial routes linking the Far East to the western countries were shortened considerably as compared to the maritime corridor around the Cape of Good Hope. In 1914, the opening of the Panama Canal sealed the new deal in world trade, opening for business the shortest commercial routes around the world. After 145 years from the inauguration of the Suez Canal, world trade is on the eve of a new expansion. Two major projects: the expansion of both the Suez and Panama canals, planned to be completed in the next two years, will double their transit capacity. This paper does a comparative analysis of these two strategic projects, underlining the main benefits for Egypt, Panama and world trade, based on the available statistical data, reports and literature in the field.

Suggested Citation

  • George Cornel Dumitrescu, 2014. "Major Projects That Influence World Trade," Global Economic Observer, "Nicolae Titulescu" University of Bucharest, Faculty of Economic Sciences;Institute for World Economy of the Romanian Academy, vol. 2(2), pages 76-84, November.
    • Handle: RePEc:ntu:ntugeo:vol2-iss2-14-076
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    References listed on IDEAS

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    1. Feyrer, James, 2021. "Distance, trade, and income — The 1967 to 1975 closing of the Suez canal as a natural experiment," Journal of Development Economics, Elsevier, vol. 153(C).
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