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Where has the rum gone? The impact of maritime piracy on trade and transport

Alexander-Nikolai Sandkamp, Vincent Stamer () and Shuyao Yang ()
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Vincent Stamer: Kiel Institute (IfW) & KCG
Shuyao Yang: ifo Institute - Leibniz Institute for Economic Research at the University of Munich & LMU Munich

Review of World Economics (Weltwirtschaftliches Archiv), 2022, vol. 158, issue 3, No 3, 778 pages

Abstract: Abstract Despite a general agreement that piracy poses a significant threat to maritime shipping, empirical evidence regarding its economic consequences remains scarce. This paper combines firm-level Chinese customs data and ship position data with information on pirate attacks to investigate how exporting firms and cargo ships respond to maritime piracy. It finds that overall exports along affected shipping routes fall following an increase in pirate activity. In addition, piracy induces firms to switch from ocean to air shipping, while remaining ocean shipments become larger. At the ship-level, the paper provides evidence for re-routing, as container ships avoid regions prone to pirate attacks.

Keywords: Trade; Transport; China; Piracy; Container Shipping (search for similar items in EconPapers)
JEL-codes: F14 F19 N70 R41 (search for similar items in EconPapers)
Date: 2022
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DOI: 10.1007/s10290-021-00442-1

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