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Estimating The Effects of the Container Revolution on World Trade

  • Daniel Bernhofen
  • Zouheir El-Sahli
  • Richard Kneller

We quantify the effects of the container revolution on a large panel of product level trade flows during 1962-1990. We exploit time and cross-sectional variation in countries’ first adoption of container facilities to construct a time-varying bilateral container technology variable and estimate its effects on trade in the panel. On North-North trade, the cumulative average treatment effects of containerization over a 20 year time period amount to about 700%, can be interpreted as causal and are larger than the standard policy liberalization variables. In a nutshell, we provide the first econometric evidence for containerization to be a driver of 20th century economic globalization.

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File URL: http://www.nottingham.ac.uk/gep/documents/papers/2013/2013-02.pdf
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Paper provided by University of Nottingham, GEP in its series Discussion Papers with number 2013-02.

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Date of creation: 2013
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Handle: RePEc:not:notgep:13/02
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School of Economics University of Nottingham University Park Nottingham NG7 2RD

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Web page: http://www.nottingham.ac.uk/gep/index.aspx

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  1. Scott L. Baier & Jeffrey H. Bergstrand, 2005. "Do free trade agreements actually increase members’ international trade?," FRB Atlanta Working Paper 2005-03, Federal Reserve Bank of Atlanta.
  2. Kei-Mu Yi, 2000. "Can vertical specialization explain the growth of world trade?," Staff Reports 96, Federal Reserve Bank of New York.
  3. Rua, Gisela, 2014. "Diffusion of Containerization," Finance and Economics Discussion Series 2014-88, Board of Governors of the Federal Reserve System (U.S.).
  4. Mokyr, Joel, 1992. "The Lever of Riches: Technological Creativity and Economic Progress," OUP Catalogue, Oxford University Press, number 9780195074772.
  5. 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.
  6. Robert C. Feenstra & Robert E. Lipsey & Haiyan Deng & Alyson C. Ma & Hengyong Mo, 2005. "World Trade Flows: 1962-2000," NBER Working Papers 11040, National Bureau of Economic Research, Inc.
  7. Hurd, John II, 1975. "Railways and the expansion of markets in India, 1861-1921," Explorations in Economic History, Elsevier, vol. 12(3), pages 263-288, July.
  8. Bruce A. Blonigen & Wesley W. Wilson, 2008. "Port Efficiency and Trade Flows," Review of International Economics, Wiley Blackwell, vol. 16(1), pages 21-36, 02.
  9. 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.
  10. 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.
  11. Theo Notteboom & Jean-Paul Rodrigue, 2008. "Containerisation, Box Logistics and Global Supply Chains: The Integration of Ports and Liner Shipping Networks," Maritime Economics and Logistics, Palgrave Macmillan, vol. 10(1-2), pages 152-174, March.
  12. Paul Krugman, 1995. "Growing World Trade: Causes and Consequences," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 26(1, 25th A), pages 327-377.
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