Trading on Time

The authors determine how time delays affect international trade using newly collected World Bank data on the days it takes to move standard cargo from the factory gate to the ship in 126 countries. They estimate a modified gravity equation, controlling for endogeneity and remoteness. On average, ea...

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Main Authors:	Djankov, Simeon, Freund, Caroline, Pham, Cong S.
Format:	Policy Research Working Paper
Language:	English
Published:	World Bank, Washington, DC 2012
Subjects:	AGGREGATE EXPORTS AGRICULTURAL PRODUCTS AGRICULTURAL TRADE AGRICULTURE AIR FREIGHT AIR TRANSPORT APPAREL APPAREL PRODUCTS AVERAGE TARIFFS BENCHMARK BERTHS BILATERAL TRADE CARGO CARRIAGE COEFFICIENT ESTIMATE COMPARATIVE ADVANTAGE CONGESTION CONTAINERS CUSTOMS CUSTOMS CLEARANCE CUSTOMS OFFICIALS CUSTOMS PROCEDURES DELIVERY TIMES DEVELOPMENT ECONOMICS ECONOMICS RESEARCH EXPORT CARGO EXPORT DOCUMENTS EXPORT PROCEDURES EXPORT PROCESSING EXPORT VOLUMES EXPORT-PROCESSING ZONE EXPORT-PROCESSING ZONES EXPORTERS EXPORTS FACTOR ENDOWMENTS FOREIGN COMPANIES FOREIGN MARKETS FOREIGN TRADE FORWARDING FREIGHT FREIGHT FORWARDERS GDP GDP PER CAPITA GLOBAL COMPETITIVENESS GLOBAL TRADE GRAVITY EQUATION GRAVITY MODEL GRAVITY MODELS GROSS DOMESTIC PRODUCT GROSS DOMESTIC PRODUCT PER CAPITA HANDLING IMPACT OF TRADE IMPORT BARRIERS IMPORTS INCOME INCOME GROUPS INCREASING RETURNS INTERNATIONAL ECONOMICS INTERNATIONAL MARKETS INTERNATIONAL TRADE LANDLOCKED COUNTRIES LOADING MANUFACTURING MARGINAL VALUE MARKET ACCESS MIDDLE EAST MULTILATERAL TRADE MULTILATERAL TRADE LIBERALIZATION NORTH AFRICA PATTERN OF TRADE PER CAPITA INCOME PORT INFRASTRUCTURE PREFERENTIAL ACCESS PREFERENTIAL TRADE PREFERENTIAL TRADE AGREEMENT REDUCTION IN TARIFFS REGIONAL TRADE REGIONAL TRADE AGREEMENTS REGIONAL TRADE LIBERALIZATION REGRESSION ANALYSIS SAFETY STANDARDS SHIP CARGO SHIPPING SHIPPING COSTS SPECIALIZATION SUB-SAHARAN AFRICA TRADE AGREEMENT TRADE BARRIER TRADE BARRIERS TRADE COSTS TRADE DATA TRADE FACILITATION TRADE FLOWS TRADE LIBERALIZATION TRADE MORE TRADE NEGOTIATIONS TRADE PARTNERS TRADE PATTERNS TRADE REFORM TRADE VOLUME TRADE VOLUMES TRANSIT VOLUME OF TRADE WAITING TIME WTO
Online Access:	http://documents.worldbank.org/curated/en/2006/05/6765004/trading-time http://hdl.handle.net/10986/8674

id	okr-10986-8674
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spelling	okr-10986-86742021-04-23T14:02:40Z Trading on Time Djankov, Simeon Freund, Caroline Pham, Cong S. AGGREGATE EXPORTS AGRICULTURAL PRODUCTS AGRICULTURAL TRADE AGRICULTURE AIR FREIGHT AIR TRANSPORT APPAREL APPAREL PRODUCTS AVERAGE TARIFFS BENCHMARK BERTHS BILATERAL TRADE CARGO CARRIAGE COEFFICIENT ESTIMATE COMPARATIVE ADVANTAGE CONGESTION CONTAINERS CUSTOMS CUSTOMS CLEARANCE CUSTOMS OFFICIALS CUSTOMS PROCEDURES DELIVERY TIMES DEVELOPMENT ECONOMICS ECONOMICS RESEARCH EXPORT CARGO EXPORT DOCUMENTS EXPORT PROCEDURES EXPORT PROCESSING EXPORT VOLUMES EXPORT-PROCESSING ZONE EXPORT-PROCESSING ZONES EXPORTERS EXPORTS FACTOR ENDOWMENTS FOREIGN COMPANIES FOREIGN MARKETS FOREIGN TRADE FORWARDING FREIGHT FREIGHT FORWARDERS GDP GDP PER CAPITA GLOBAL COMPETITIVENESS GLOBAL TRADE GRAVITY EQUATION GRAVITY MODEL GRAVITY MODELS GROSS DOMESTIC PRODUCT GROSS DOMESTIC PRODUCT PER CAPITA HANDLING IMPACT OF TRADE IMPORT BARRIERS IMPORTS INCOME INCOME GROUPS INCREASING RETURNS INTERNATIONAL ECONOMICS INTERNATIONAL MARKETS INTERNATIONAL TRADE LANDLOCKED COUNTRIES LOADING MANUFACTURING MARGINAL VALUE MARKET ACCESS MIDDLE EAST MULTILATERAL TRADE MULTILATERAL TRADE LIBERALIZATION NORTH AFRICA PATTERN OF TRADE PER CAPITA INCOME PORT INFRASTRUCTURE PREFERENTIAL ACCESS PREFERENTIAL TRADE PREFERENTIAL TRADE AGREEMENT REDUCTION IN TARIFFS REGIONAL TRADE REGIONAL TRADE AGREEMENTS REGIONAL TRADE LIBERALIZATION REGRESSION ANALYSIS SAFETY STANDARDS SHIP CARGO SHIPPING SHIPPING COSTS SPECIALIZATION SUB-SAHARAN AFRICA TRADE AGREEMENT TRADE BARRIER TRADE BARRIERS TRADE COSTS TRADE DATA TRADE FACILITATION TRADE FLOWS TRADE LIBERALIZATION TRADE MORE TRADE NEGOTIATIONS TRADE PARTNERS TRADE PATTERNS TRADE REFORM TRADE VOLUME TRADE VOLUMES TRANSIT VOLUME OF TRADE WAITING TIME WTO The authors determine how time delays affect international trade using newly collected World Bank data on the days it takes to move standard cargo from the factory gate to the ship in 126 countries. They estimate a modified gravity equation, controlling for endogeneity and remoteness. On average, each additional day that a product is delayed prior to being shipped reduces trade by at least 1 percent. Put differently, each day is equivalent to a country distancing itself from its trade partners by 70 kilometers on average. Delays have an even greater impact on developing country exports and exports of time-sensitive goods, such as perishable agricultural products. In particular, a day's delay reduces a country's relative exports of time-sensitive to time-insensitive agricultural goods by 6 percent. 2012-06-21T17:52:11Z 2012-06-21T17:52:11Z 2006-05 http://documents.worldbank.org/curated/en/2006/05/6765004/trading-time http://hdl.handle.net/10986/8674 English Policy Research Working Paper; No. 3909 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Publications & Research :: Policy Research Working Paper Publications & Research
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English
topic	AGGREGATE EXPORTS AGRICULTURAL PRODUCTS AGRICULTURAL TRADE AGRICULTURE AIR FREIGHT AIR TRANSPORT APPAREL APPAREL PRODUCTS AVERAGE TARIFFS BENCHMARK BERTHS BILATERAL TRADE CARGO CARRIAGE COEFFICIENT ESTIMATE COMPARATIVE ADVANTAGE CONGESTION CONTAINERS CUSTOMS CUSTOMS CLEARANCE CUSTOMS OFFICIALS CUSTOMS PROCEDURES DELIVERY TIMES DEVELOPMENT ECONOMICS ECONOMICS RESEARCH EXPORT CARGO EXPORT DOCUMENTS EXPORT PROCEDURES EXPORT PROCESSING EXPORT VOLUMES EXPORT-PROCESSING ZONE EXPORT-PROCESSING ZONES EXPORTERS EXPORTS FACTOR ENDOWMENTS FOREIGN COMPANIES FOREIGN MARKETS FOREIGN TRADE FORWARDING FREIGHT FREIGHT FORWARDERS GDP GDP PER CAPITA GLOBAL COMPETITIVENESS GLOBAL TRADE GRAVITY EQUATION GRAVITY MODEL GRAVITY MODELS GROSS DOMESTIC PRODUCT GROSS DOMESTIC PRODUCT PER CAPITA HANDLING IMPACT OF TRADE IMPORT BARRIERS IMPORTS INCOME INCOME GROUPS INCREASING RETURNS INTERNATIONAL ECONOMICS INTERNATIONAL MARKETS INTERNATIONAL TRADE LANDLOCKED COUNTRIES LOADING MANUFACTURING MARGINAL VALUE MARKET ACCESS MIDDLE EAST MULTILATERAL TRADE MULTILATERAL TRADE LIBERALIZATION NORTH AFRICA PATTERN OF TRADE PER CAPITA INCOME PORT INFRASTRUCTURE PREFERENTIAL ACCESS PREFERENTIAL TRADE PREFERENTIAL TRADE AGREEMENT REDUCTION IN TARIFFS REGIONAL TRADE REGIONAL TRADE AGREEMENTS REGIONAL TRADE LIBERALIZATION REGRESSION ANALYSIS SAFETY STANDARDS SHIP CARGO SHIPPING SHIPPING COSTS SPECIALIZATION SUB-SAHARAN AFRICA TRADE AGREEMENT TRADE BARRIER TRADE BARRIERS TRADE COSTS TRADE DATA TRADE FACILITATION TRADE FLOWS TRADE LIBERALIZATION TRADE MORE TRADE NEGOTIATIONS TRADE PARTNERS TRADE PATTERNS TRADE REFORM TRADE VOLUME TRADE VOLUMES TRANSIT VOLUME OF TRADE WAITING TIME WTO
spellingShingle	AGGREGATE EXPORTS AGRICULTURAL PRODUCTS AGRICULTURAL TRADE AGRICULTURE AIR FREIGHT AIR TRANSPORT APPAREL APPAREL PRODUCTS AVERAGE TARIFFS BENCHMARK BERTHS BILATERAL TRADE CARGO CARRIAGE COEFFICIENT ESTIMATE COMPARATIVE ADVANTAGE CONGESTION CONTAINERS CUSTOMS CUSTOMS CLEARANCE CUSTOMS OFFICIALS CUSTOMS PROCEDURES DELIVERY TIMES DEVELOPMENT ECONOMICS ECONOMICS RESEARCH EXPORT CARGO EXPORT DOCUMENTS EXPORT PROCEDURES EXPORT PROCESSING EXPORT VOLUMES EXPORT-PROCESSING ZONE EXPORT-PROCESSING ZONES EXPORTERS EXPORTS FACTOR ENDOWMENTS FOREIGN COMPANIES FOREIGN MARKETS FOREIGN TRADE FORWARDING FREIGHT FREIGHT FORWARDERS GDP GDP PER CAPITA GLOBAL COMPETITIVENESS GLOBAL TRADE GRAVITY EQUATION GRAVITY MODEL GRAVITY MODELS GROSS DOMESTIC PRODUCT GROSS DOMESTIC PRODUCT PER CAPITA HANDLING IMPACT OF TRADE IMPORT BARRIERS IMPORTS INCOME INCOME GROUPS INCREASING RETURNS INTERNATIONAL ECONOMICS INTERNATIONAL MARKETS INTERNATIONAL TRADE LANDLOCKED COUNTRIES LOADING MANUFACTURING MARGINAL VALUE MARKET ACCESS MIDDLE EAST MULTILATERAL TRADE MULTILATERAL TRADE LIBERALIZATION NORTH AFRICA PATTERN OF TRADE PER CAPITA INCOME PORT INFRASTRUCTURE PREFERENTIAL ACCESS PREFERENTIAL TRADE PREFERENTIAL TRADE AGREEMENT REDUCTION IN TARIFFS REGIONAL TRADE REGIONAL TRADE AGREEMENTS REGIONAL TRADE LIBERALIZATION REGRESSION ANALYSIS SAFETY STANDARDS SHIP CARGO SHIPPING SHIPPING COSTS SPECIALIZATION SUB-SAHARAN AFRICA TRADE AGREEMENT TRADE BARRIER TRADE BARRIERS TRADE COSTS TRADE DATA TRADE FACILITATION TRADE FLOWS TRADE LIBERALIZATION TRADE MORE TRADE NEGOTIATIONS TRADE PARTNERS TRADE PATTERNS TRADE REFORM TRADE VOLUME TRADE VOLUMES TRANSIT VOLUME OF TRADE WAITING TIME WTO Djankov, Simeon Freund, Caroline Pham, Cong S. Trading on Time
relation	Policy Research Working Paper; No. 3909
description	The authors determine how time delays affect international trade using newly collected World Bank data on the days it takes to move standard cargo from the factory gate to the ship in 126 countries. They estimate a modified gravity equation, controlling for endogeneity and remoteness. On average, each additional day that a product is delayed prior to being shipped reduces trade by at least 1 percent. Put differently, each day is equivalent to a country distancing itself from its trade partners by 70 kilometers on average. Delays have an even greater impact on developing country exports and exports of time-sensitive goods, such as perishable agricultural products. In particular, a day's delay reduces a country's relative exports of time-sensitive to time-insensitive agricultural goods by 6 percent.
format	Publications & Research :: Policy Research Working Paper
author	Djankov, Simeon Freund, Caroline Pham, Cong S.
author_facet	Djankov, Simeon Freund, Caroline Pham, Cong S.
author_sort	Djankov, Simeon
title	Trading on Time
title_short	Trading on Time
title_full	Trading on Time
title_fullStr	Trading on Time
title_full_unstemmed	Trading on Time
title_sort	trading on time
publisher	World Bank, Washington, DC
publishDate	2012
url	http://documents.worldbank.org/curated/en/2006/05/6765004/trading-time http://hdl.handle.net/10986/8674
_version_	1764406106663157760

Trading on Time

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