TY  - GEN
AB  - This paper examines the structure of the shipping network and its implications on global trade and welfare. Using novel data on the movements of container ships, we calculate optimal travel routes. We then estimate the impact of a shock to the network on global trade by means of a natural experiment: the 2016 Panama Canal expansion. Trade between country pairs using the canal increased by 9-10% after the expansion. While the building costs were borne by Panama alone, a model-based quantification shows that the welfare gains were shared by many countries, due to the network structure of shipping.
AU  - Zi, Yuan
AU  - Heiland, Inga
AU  - Moxnes, Andreas
AU  - Ulltveit-Moe, Karen Helene
CY  - London
DA  - 2019
DA  - 2019
ID  - 298993
L1  - https://repository.graduateinstitute.ch/record/298993/files/CEPR-DP14193.pdf
L2  - https://repository.graduateinstitute.ch/record/298993/files/CEPR-DP14193.pdf
L4  - https://repository.graduateinstitute.ch/record/298993/files/CEPR-DP14193.pdf
LK  - https://repository.graduateinstitute.ch/record/298993/files/CEPR-DP14193.pdf
N2  - This paper examines the structure of the shipping network and its implications on global trade and welfare. Using novel data on the movements of container ships, we calculate optimal travel routes. We then estimate the impact of a shock to the network on global trade by means of a natural experiment: the 2016 Panama Canal expansion. Trade between country pairs using the canal increased by 9-10% after the expansion. While the building costs were borne by Panama alone, a model-based quantification shows that the welfare gains were shared by many countries, due to the network structure of shipping.
PB  - Centre for Economic Policy Research
PP  - London
PY  - 2019
PY  - 2019
T1  - Trade from spaceshipping networks and the global implications of local shocks
TI  - Trade from spaceshipping networks and the global implications of local shocks
UR  - https://repository.graduateinstitute.ch/record/298993/files/CEPR-DP14193.pdf
Y1  - 2019
ER  -