How costly is modern maritime piracy to the international community?
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Títol
How costly is modern maritime piracy to the international community?Data de publicació
2012-11Editor
BlackwellISSN
1467-9396; 0965-7576Tipus de document
info:eu-repo/semantics/articleVersió de l'editorial
http://onlinelibrary.wiley.com/doi/10.1111/roie.12000/fullVersió
info:eu-repo/semantics/publishedVersionParaules clau / Matèries
Resum
This paper focuses on the impact of maritime piracy on international trade. Piracy increases the cost of international maritime transport through an increase in insecurity regarding goods deliveries. Bilateral trade ... [+]
This paper focuses on the impact of maritime piracy on international trade. Piracy increases the cost of international maritime transport through an increase in insecurity regarding goods deliveries. Bilateral trade flows between the main European and Asian countries over the 1999 to 2008 period are used to estimate an augmented gravity model that includes various measures of piracy acts. We found robust evidence indicating that maritime piracy reduces the volume of trade; the effect of ten additional vessels hijacked being associated to an 11% decrease in exports. Consequently, the current cost of piracy in terms of international trade destruction is estimated at 24.5 billion dollars. [-]
Publicat a
Review of International Economics (Nov. 2012), vol. 20, no.5, 869-883Drets d'accés
© 2012 Blackwell Publishing Ltd
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info:eu-repo/semantics/openAccess
http://rightsstatements.org/vocab/InC/1.0/
info:eu-repo/semantics/openAccess
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