Infrastructure, Geographical Disadvantage, Transport Costs, and Trade |
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Authors: | Limao Nuno; Venables Anthony J |
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Institution: | Department of Economics at Columbia University, ngl4{at}columbia.edu
The Department of Economics at London School of Economics and the Center for Economic Policy Research. a.j.venables{at}lse.ac.uk |
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Abstract: | The authors use different data sets to investigate the dependenceof transport costs on geography and infrastructure. Infrastructureis an important determinant of transport costs, especially forlandlocked countries. Analysis of bilateral trade data confirmsthe importance of infrastructure and gives an estimate of theelasticity of trade flows with respect to the trade cost factorof around 3. A deterioration of infrastructure from themedian to the 75th percentile raises transport costs by 12 percentagepoints and reduces trade volumes by 28 percent. Analysis ofAfrican trade flows indicates that their relatively low levelis largely due to poor infrastructure. |
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