2017年-世界发展银行全球_How_Does_Port_Efficiency_Affect_Maritime_Transport_Costs_and_Trade____Evidence_from_Indian_and_Western_Pacific_Ocean_Countries_24页_811kb

Summary of "How Does Port Efficiency Affect Maritime Transport Costs and Trade? Evidence from Indian and Western Pacific Ocean Countries"

Core Content

This working paper investigates the relationship between port efficiency and maritime transport costs and trade, focusing on countries in the Indian and Western Pacific Oceans. The study aims to determine how improvements in port performance could reduce transport costs and enhance trade flows, using a more accurate and comprehensive measure of port efficiency based on data envelopment analysis (DEA).

Main Viewpoints

• Port efficiency is a critical determinant of maritime transport costs and trade. Efficient ports reduce handling costs, turnaround times, and overall logistics expenses, thereby improving trade competitiveness.
• Transport costs significantly affect trade volumes. Studies show that a 10% increase in transport costs can reduce trade volumes by more than 20%, and a 25% increase in transport costs can lead to a 22% decline in bilateral trade.
• Previous measures of port efficiency are often ad hoc and unreliable. Many studies use proxy variables or subjective indicators that do not fully account for the actual use of port assets or are subject to noise. This paper proposes a more robust method using DEA to evaluate port efficiency based on actual input-output relationships.
• Improving port efficiency can have substantial economic benefits. The paper estimates that if countries in the region became as efficient as the most efficient port sector, their average maritime transport costs could decrease by up to 14%, and exports could increase by up to 2.2%.

Key Information

Determinants of Maritime Transport Costs

• Distance is a major factor, with transport costs proportional to distance. However, the relationship is complex due to the interplay between time and fuel costs.
• Trade imbalances influence transport costs, as they reflect the extent to which ships may carry empty containers, increasing costs for the exporting country.
• Value-weight (value per unit of weight) has a strong positive impact on transport costs. Higher-value goods incur higher costs per unit of weight due to insurance and other services.
• Containerization generally reduces transport costs, but empirical evidence suggests that its benefits are not always realized due to market power and regulatory constraints.
• Port efficiency is strongly correlated with reduced transport costs, with a 1% increase in efficiency leading to a 0.38% reduction in trade costs, according to Wilmsmeier, Hoffmann, and Sanchez (2006).

Methodology

• The study uses data envelopment analysis (DEA) to estimate port efficiency, which is a nonparametric method that evaluates efficiency based on the ratio of inputs to outputs.
• Inputs include port area, length of berths, number of cranes, and outputs include container throughput (measured in TEUs).
• A gravity model is used to estimate the impact of maritime transport costs on trade flows, incorporating variables such as GDP, distance, oil prices, and trade imbalances.

Empirical Results

• The paper ranks countries in the Indian and Western Pacific Oceans based on their port efficiency using DEA.
• It finds that port efficiency has a significant negative impact on transport costs, with improvements in efficiency leading to cost reductions and trade expansion.
• Containerization is associated with lower transport costs, but the benefits are limited due to market power and lack of competition in certain routes.
• Trade asymmetries (import vs. export imbalances) significantly affect transport costs, as they indicate the presence of empty container movements.
• Port connectivity (measured by the number of ships, services, and countries connected to the port) is negatively correlated with transport costs.

Conclusion

• Port efficiency is a key driver of maritime transport costs and trade performance.
• The proposed DEA-based efficiency measure is more reliable than ad hoc indicators.
• Improving port efficiency can lead to significant cost reductions and trade expansion, especially in less developed countries.
• The study provides evidence that enhancing port operations can improve a country's global competitiveness and support economic growth.