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The price of modern maritime piracy
Defence and Peace Economics (2013)
  • Inmaculada Martinez-Zarzoso
  • Sami Bensassi
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 transport-cost 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
Publication Date
2013
Citation Information
Inmaculada Martinez-Zarzoso and Sami Bensassi. "The price of modern maritime piracy" Defence and Peace Economics (2013)
Available at: http://works.bepress.com/sami_bensassi/1/