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A New Governance Perspective on Port–Hinterland Relationships: The Port Hinterland Impact (PHI) Matrix

In: Sustainable Port Clusters and Economic Development

Author

Listed:
  • Elvira Haezendonck

    (Vrije Universiteit Brussel (VUB))

  • Michael Dooms

    (Vrije Universiteit Brussel (VUB))

  • Alain Verbeke

    (University of Calgary
    Vrije Universiteit Brussel
    University of Reading)

Abstract

Many ports have become more functionally integrated with their hinterlands, with ports acting as “impact hubs” for a broad region. The new economic geography of port impacts, which have become more spatially dispersed than in the past, is imposing new contractual relationship challenges on ports and on the various economic actors in their hinterland with whom contractual relationships need to be crafted and fine-tuned. A contractual relationship refers to any economic exchange between two or more parties whereby these parties face the challenge of jointly selecting the most efficient “governance structure” for this exchange, given the characteristics of the transaction at hand. The presence of relationship-specific investments associated with an exchange, that is, dedicated investments that cannot be easily redeployed elsewhere without loss of economic value, calls for more complex contractual relations, and the extreme case being that of internalization.

Suggested Citation

  • Elvira Haezendonck & Michael Dooms & Alain Verbeke, 2018. "A New Governance Perspective on Port–Hinterland Relationships: The Port Hinterland Impact (PHI) Matrix," Palgrave Studies in Maritime Economics, in: Elvira Haezendonck & Alain Verbeke (ed.), Sustainable Port Clusters and Economic Development, chapter 0, pages 9-34, Palgrave Macmillan.
    • Handle: RePEc:pal:psmchp:978-3-319-96658-8_2
    DOI: 10.1007/978-3-319-96658-8_2
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