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The price of modern maritime piracy

Inmaculada Martínez-Zarzoso and Sami Bensassi ()

No 213, Ibero America Institute for Econ. Research (IAI) Discussion Papers from Ibero-America Institute for Economic Research

Abstract: A growing body of literature has recently focused on the economic origins and consequences of modern maritime piracy and on the perception that the international community has failed to control it. This paper aims to investigate maritime transport costs as one of the channels through which modern maritime piracy could have a major impact on the global economy. A transportcost equation is estimated using a newly released dataset on maritime transport cost from the OECD together with data on maritime piracy from the IMB. Our results show that maritime piracy significantly increases trade cost between Europe and Asia.

Keywords: maritime piracy; transport costs; maritime trade; panel data (search for similar items in EconPapers)
JEL-codes: F51 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cwa
Date: 2011-09-27
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Related works:
Journal Article: THE PRICE OF MODERN MARITIME PIRACY (2013) Downloads
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