The Importance of the Cost and Time of Transport for International Trade

This paper describes how economists who specialize in theory of international trade have tended to ignore cost. The first section of the paper reviews some of the evidence that indicates that the cost of trade may be too large to ignore. The next section of the paper discusses the various forms that trade costs may take. Then some of main implications of trade cost implications that are likely to be relevant to the costs are examined. Among these costs, the time costs may be the least familiar and these are discussed in the next section, where it is noted that while the time required for transporting goods has become smaller, the importance of even small delays in many industries has become larger. These two facts interact in order to provide additional implications for patterns of trade and most of this discussion in equally relevant, in principle, to all countries. However, based on the level of development, there are some differences that exist among countries.

Language

  • English

Media Info

  • Media Type: Print
  • Features: Bibliography;
  • Pagination: pp 5-24
  • Monograph Title: Time and Transport

Subject/Index Terms

Filing Info

  • Accession Number: 01051992
  • Record Type: Publication
  • ISBN: 9282123308
  • Files: TRIS
  • Created Date: Jun 21 2007 4:39PM