Melting Ice Caps and the Economic Impact of Opening the Northern Sea Route

  title={Melting Ice Caps and the Economic Impact of Opening the Northern Sea Route},
  author={Eddy Bekkers and Joseph F. Francois and Hugo Rojas�?Romagosa},
  journal={Wiley-Blackwell: Economic Journal},
One consequence of melting Arctic ice caps is the commercial viability of the Northern Sea Route, connecting East Asia with Europe. This represents a sizeable reduction in shipping distances and average transportation days, compared to the conventional Southern Sea Route. We examine the economic impact of opening this route in a multi-sector Eaton-Kortum model with intermediate linkages. We find remarkable shifts in trade flows between Asia and Europe, diversion of trade within Europe, heavy… 

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