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Explaining variations in national fleet across shipping nations
Many studies on national shipping attribute the declines in national fleets of developed economies to the lack of comparative advantage, but little has been done so far to identify factors contributing to countries’ shipping comparative advantage using a systematic approach. Although shipping markets are highly international and competitive, it is not clear whether tonnage owned by countries is governed by country-specific factors. This paper seeks to explain variations in nationally owned fleet across shipping nations. The main variable of interest is national fleet tonnage owned by country of domicile as opposed to registered tonnage. The results of econometric analysis using data from 84 shipping nations indicate that various country-specific factors do indeed contribute to variations in fleet tonnage across shipping nations, albeit at different levels of significance. Financial market development, external trade, ship registration, shipbuilding, and shipping history appear to have the most significant impact followed by the level of development and technology and maritime policy. Based on the results of analysis, implications for policy and future research are also discussed
History
Publication title
Maritime Policy and ManagementVolume
38Issue
6Pagination
567-583ISSN
0308-8839Department/School
Australian Maritime CollegePublisher
RoutledgePlace of publication
Mortimer House, 37-41 Mortimer St, London, UKRights statement
Copyright 2011 Taylor & FrancisRepository Status
- Restricted