Transport Costs and Trade Volumes: Evidence from the Trans-Atlantic Iron Trade, 1870–1913

Autor:	Ian Keay, Kris Inwood
Rok vydání:	2015
Předmět:	Economics and Econometrics History Pig iron business.industry Economics Econometrics and Finance (miscellaneous) International economics engineering.material Raw material Iron ore engineering Economics Coal Endogeneity business
Zdroj:	The Journal of Economic History. 75:95-124
ISSN:	1471-6372 0022-0507
DOI:	10.1017/s0022050715000042
Popis:	We use newly compiled evidence on inter- and intra-continental shipping costs to investigate the relationship between transportation and trade for trans-Atlantic iron markets from 1870–1913. Although we find a surprisingly weak connection linking ocean freight rates to British exports, after controlling for endogeneity and measuring all costs associated with inter-continental pig iron shipments and the intra-continental assembly of raw materials, the importance of transportation strongly asserts itself. The cost to transport pig iron across the Atlantic, and the cost to transport iron ore and coking coal within North America, were important determinants of the volume of British exports.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::38cb7b566f22781438fb3fd52d755209 https://doi.org/10.1017/s0022050715000042 Zobrazit plný text záznamu