Conference Agenda
Overview and details of the sessions of this conference. Please select a date or location to show only sessions at that day or location. Please select a single session for detailed view (with abstracts and downloads if available).
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International Trade Location: D-104 Session Chair: Finn Ole Semrau, Kiel Institute for the World Economy | |
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Stormy Seas: Trade Effects of Disruptions in the Container Ship Network 1: Leibniz University Hannover, Germany; 2: Kiel Institute Fellow International trade relies strongly on the reliable functioning of the maritime shipping network. This paper uncovers how much of global port-level trading is disrupted due to severe tropical cyclones and whether trade shifts to neighboring routes. Exploiting an event-study approach nested within a gravity framework, we find that a cyclone reduces trade flows by -8.0\% between affected port pairs, while this effect even extends to country pair trade, although with smaller magnitude. We find no according shift to neighboring routes. Instead, shipping firms charge higher freight prices on affected routes that might amplify the trading impact. Evidence from geo-located container ship voyages shows that ships facing a cyclone ahead on their journey travel at slower speed, longer effective distances and thus incur time delays. | |