Inga Heiland, Andreas Moxnes, Karen-Helene Ulltveit-Moe, Yuan Zi, 07 January 2020

Evidence on the structure of the global container shipping network, an essential determinant of the costs of trade, is scarce. This column uses satellite data to document salient features of the network, and the expansion of the Panama Canal as a natural experiment to examine the impact this improvement to one link of the network had on worldwide trade. The analysis suggests that the expansion of the canal increased world real income by $20 billion. 

CEPR Policy Research