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Determinants of Maritime Transport Costs. A Panel Data Analysis for Latin American Trade

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Author Info
Inmaculada Martínez-Zarzoso () (Universits of Goettingen / Germany and University Jaume I / Spain)
Gordon Wilmsmeier () (Napier University, Edingburgh / UK and Osnabrück University / Germany)

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Abstract

This paper analyses the determinants of transport costs for intra-Latin American trade over a period of six years (1999-2004). The data refer to yearly disaggregated (SITC 5 digit level) maritime trade flows on 277 trade routes. With this data set, a transport costs equation is estimated using linear regression analysis in a panel data framework. The first contribution to the literature is to exploit the greater variability present in our data and to control for unobservable heterogeneous effects. The second is to investigate the influence of open registries on the variability of maritime transport costs. Three groups of explanatory variables are considered. Firstly, timevarying variables: use of open registries and trade imbalance. Secondly, variables related to liner shipping network structures: number of liner services, shipping opportunities, deployed ships and deployed TEUs. Finally, product related variables such as volume of shipment, value of product and special characteristics of the cargo (i.e. refrigerated cargo). The results will allow us to quantify the effect of the explanatory variables on international maritime transport costs and to compare the obtained elasticities with previous cross-section analysis. In particular, estimating the impact of the use of open registries on transport cost is a new contribution in this field that could provide policy makers with valuable information to be used in the implementation of economic policies.

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Publisher Info
Paper provided by Ibero-America Institute for Economic Research in its series Ibero America Institute for Econ. Research (IAI) Discussion Papers with number 172.

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Length: 24 pages
Date of creation: 13 May 2008
Date of revision:
Handle: RePEc:got:iaidps:172

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Related research
Keywords: International Transport Costs; Maritime Trade; Latin America; Sectoral Data; Time Series; Open Registries; Competitiveness; liner shipping network structure;

Find related papers by JEL classification:
F10 - International Economics - - Trade - - - General
F14 - International Economics - - Trade - - - Country and Industry Studies of Trade

This paper has been announced in the following NEP Reports:

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Wilmsmeier, Gordon & Hoffmann, Jan & Sanchez, Ricardo J., 2006. "The Impact of Port Characteristics on International Maritime Transport Costs," Research in Transportation Economics, Elsevier, vol. 16(1), pages 117-140, January. [Downloadable!] (restricted)
  2. Inmaculada Martinez-Zarzoso & Eva Maria Perez-Garcia & Celestino Suarez-Burguet, 2008. "Do transport costs have a differential effect on trade at the sectoral level?," Applied Economics, Taylor and Francis Journals, vol. 40(24), pages 3145-3157. [Downloadable!] (restricted)
  3. Dollar, David & Micco, Alejandro & Clark, Ximena, 2002. "Maritime transport costs and port efficiency," Policy Research Working Paper Series 2781, The World Bank. [Downloadable!]
  4. 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.
  5. Micco, Alejandro & Serebrisky, Tomas, 2004. "Infrastructure, competition regimes, and air transport costs: cross-country evidence," Policy Research Working Paper Series 3355, The World Bank. [Downloadable!]
    Other versions:
  6. I Martínez-Zarzoso & L García-Menéndez & C Suárez-Burguet, 2003. "Impact of Transport Costs on International Trade: The Case of Spanish Ceramic Exports," Maritime Economics and Logistics, Palgrave Macmillan Journals, vol. 5(2), pages 179-198, June. [Downloadable!] (restricted)
  7. Oguledo, Victor Iwuagwu & MacPhee, Craig R, 1994. "Gravity Models: A Reformulation and an Application to Discriminatory Trade Arrangements," Applied Economics, Taylor and Francis Journals, vol. 26(2), pages 107-20, February.
  8. 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. [Downloadable!] (restricted)
  9. Francois, Joseph F & Wooton, Ian, 2001. "Trade in International Transport Services: The Role of Competition," Review of International Economics, Blackwell Publishing, vol. 9(2), pages 249-61, May. [Downloadable!] (restricted)
    Other versions:
  10. Clark, Ximena & Dollar, David & Micco, Alejandro, 2004. "Port efficiency, maritime transport costs, and bilateral trade," Journal of Development Economics, Elsevier, vol. 75(2), pages 417-450, December. [Downloadable!] (restricted)
    Other versions:
  11. Inmaculada Martínez-Zarzoso & Celestino Suárez-Burguet, 2005. "Transport costs and trade: Empirical evidence for Latin American imports from the European union," Journal of International Trade & Economic Development, Taylor and Francis Journals, vol. 14(3), pages 353-371, September. [Downloadable!] (restricted)
  12. Inmaculada Martínez-Zarzoso & Felicitas D. Nowak-Lehmann, 2007. "Is distance a good proxy for transport costs? The case of competing transport modes," Journal of International Trade & Economic Development, Taylor and Francis Journals, vol. 16(3), pages 411-434. [Downloadable!] (restricted)
  13. Inmaculada Martínez-Zarzoso & Felicitas Nowak-Lehmann D., 2006. "Is Distance a Good Proxy for Transport Costs?: The Case of Competing Transport Modes," cege – Center for European, Governance and Economic Development Research Discussion Papers 54, cege – Center for European, Governance and Economic Development Research, University of Goettingen (Germany).. [Downloadable!]
  14. Limao, Nuno & Venables, Anthony J., 1999. "Infrastructure, geographical disadvantage, and transport costs," Policy Research Working Paper Series 2257, The World Bank. [Downloadable!]
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