Melting Ice Caps and the Economic Impact of Opening the Northern Sea Route
A consequence of melting Arctic ice caps is the commercial viability of the Northern Sea Route, connecting North-East Asia with North-Western Europe. This will represent a sizeable reduction in shipping distances and a decrease in the average transportation days by around one-third compared to the c...
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ftunivbern:oai:boris.unibe.ch:89212 2023-08-20T04:03:53+02:00 Melting Ice Caps and the Economic Impact of Opening the Northern Sea Route Bekkers, Eddy Henricus Francois, Joseph Rojas-Romagosa, Hugo 2016 application/pdf https://boris.unibe.ch/89212/1/Melting%20Ice%20Caps.pdf https://boris.unibe.ch/89212/ http://onlinelibrary.wiley.com/doi/10.1111/ecoj.12460/abstract eng eng Wiley https://boris.unibe.ch/89212/ info:eu-repo/semantics/openAccess Bekkers, Eddy Henricus; Francois, Joseph; Rojas-Romagosa, Hugo (2016). Melting Ice Caps and the Economic Impact of Opening the Northern Sea Route. Economic journal, 128(610), pp. 1095-1127. The Hague: Wiley 10.1111/ecoj.12460 <http://dx.doi.org/10.1111/ecoj.12460> 340 Law 380 Commerce communications & transportation 330 Economics info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion PeerReviewed 2016 ftunivbern https://doi.org/10.1111/ecoj.12460 2023-07-31T21:29:31Z A consequence of melting Arctic ice caps is the commercial viability of the Northern Sea Route, connecting North-East Asia with North-Western Europe. This will represent a sizeable reduction in shipping distances and a decrease in the average transportation days by around one-third compared to the currently used Southern Sea Route. We examine the economic impact of the opening of the Northern Sea Route in a multi-sector Eaton and Kortum model with intermediate linkages. This includes a remarkable shift of bilateral trade flows between Asia and Europe, diversion of trade within Europe, heavy shipping traffic in the Arctic, and a substantial drop in traffic through Suez. These global trade changes are reflected in real income and welfare effects for the countries involved. The estimated redirection of trade has also major geopolitical implications: the reorganisation of global supply chains within Europe and between Europe and Asia, and the highlighted political interest and environmental pressure on the Arctic. Article in Journal/Newspaper Arctic Northern Sea Route BORIS (Bern Open Repository and Information System, University of Bern) Arctic The Economic Journal 128 610 1095 1127 |
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Open Polar |
collection |
BORIS (Bern Open Repository and Information System, University of Bern) |
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ftunivbern |
language |
English |
topic |
340 Law 380 Commerce communications & transportation 330 Economics |
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340 Law 380 Commerce communications & transportation 330 Economics Bekkers, Eddy Henricus Francois, Joseph Rojas-Romagosa, Hugo Melting Ice Caps and the Economic Impact of Opening the Northern Sea Route |
topic_facet |
340 Law 380 Commerce communications & transportation 330 Economics |
description |
A consequence of melting Arctic ice caps is the commercial viability of the Northern Sea Route, connecting North-East Asia with North-Western Europe. This will represent a sizeable reduction in shipping distances and a decrease in the average transportation days by around one-third compared to the currently used Southern Sea Route. We examine the economic impact of the opening of the Northern Sea Route in a multi-sector Eaton and Kortum model with intermediate linkages. This includes a remarkable shift of bilateral trade flows between Asia and Europe, diversion of trade within Europe, heavy shipping traffic in the Arctic, and a substantial drop in traffic through Suez. These global trade changes are reflected in real income and welfare effects for the countries involved. The estimated redirection of trade has also major geopolitical implications: the reorganisation of global supply chains within Europe and between Europe and Asia, and the highlighted political interest and environmental pressure on the Arctic. |
format |
Article in Journal/Newspaper |
author |
Bekkers, Eddy Henricus Francois, Joseph Rojas-Romagosa, Hugo |
author_facet |
Bekkers, Eddy Henricus Francois, Joseph Rojas-Romagosa, Hugo |
author_sort |
Bekkers, Eddy Henricus |
title |
Melting Ice Caps and the Economic Impact of Opening the Northern Sea Route |
title_short |
Melting Ice Caps and the Economic Impact of Opening the Northern Sea Route |
title_full |
Melting Ice Caps and the Economic Impact of Opening the Northern Sea Route |
title_fullStr |
Melting Ice Caps and the Economic Impact of Opening the Northern Sea Route |
title_full_unstemmed |
Melting Ice Caps and the Economic Impact of Opening the Northern Sea Route |
title_sort |
melting ice caps and the economic impact of opening the northern sea route |
publisher |
Wiley |
publishDate |
2016 |
url |
https://boris.unibe.ch/89212/1/Melting%20Ice%20Caps.pdf https://boris.unibe.ch/89212/ http://onlinelibrary.wiley.com/doi/10.1111/ecoj.12460/abstract |
geographic |
Arctic |
geographic_facet |
Arctic |
genre |
Arctic Northern Sea Route |
genre_facet |
Arctic Northern Sea Route |
op_source |
Bekkers, Eddy Henricus; Francois, Joseph; Rojas-Romagosa, Hugo (2016). Melting Ice Caps and the Economic Impact of Opening the Northern Sea Route. Economic journal, 128(610), pp. 1095-1127. The Hague: Wiley 10.1111/ecoj.12460 <http://dx.doi.org/10.1111/ecoj.12460> |
op_relation |
https://boris.unibe.ch/89212/ |
op_rights |
info:eu-repo/semantics/openAccess |
op_doi |
https://doi.org/10.1111/ecoj.12460 |
container_title |
The Economic Journal |
container_volume |
128 |
container_issue |
610 |
container_start_page |
1095 |
op_container_end_page |
1127 |
_version_ |
1774714304865501184 |