NEW DIRECTIONS FOR RESEARCH IN SHIPPING ECONOMICS

The beginning of the decade of the 80s is characterized everywhere by a slow-down in growth and great uncertainty in world output and trade, as well as insecurity in international monetary affairs. Consequently, there is anxiety about the current state and prospects for shipping. Current trends in world output and visible trade, as well as government economic policies, are the basis for predicting the future for international shipping. Also, in an increasingly sensitive and volatile climate of international politics, social, military and political considerations are playing an increasingly important role. Against this background, this article suggests some trends in international shipping in the next decade within the framework of demand and supply elasticities for shipping and "shifts" or "shocks" to market demand and supply. The qualitative argument advanced here is that, on balance, elasticities of demand and supply will rise in the next few years, resulting in a more competitive and responsive market for shipping. There will be a greater chance of major shocks affecting shipping through political and other non-commercial changes. In the light of this assessment of the near future for shipping, the article then identifies areas of new emphasis or direction for research in shipping economics.

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  • Corporate Authors:

    Taylor & Francis

    4 Park Square, Milton Park
    Abingdon,   United Kingdom  OX14 4RN
  • Authors:
    • Stonham, P E
  • Publication Date: 1980

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Filing Info

  • Accession Number: 00325846
  • Record Type: Publication
  • Files: TRIS
  • Created Date: Mar 12 1981 12:00AM