Trade From Space: Shipping Networks and The Global Implications of Local Shocks
利用卫星船舶数据，研究2016年巴拿马运河扩建对全球航运网络的影响，发现运河扩建带来的全球实际收入增长是巴拿马自身收入增长的三倍多，且多数航运链路具有正向国际外部性。
Abstract This paper analyzes international externalities of a local shock to the global shipping network. The 2016 Panama Canal expansion removed a bottleneck in seaborne transportation. Using reduced-form and structural methods in combination with novel satellite data on ships, we find that trade increased significantly among country-pairs using the canal. We find that the global real income gains from the canal expansion were over three times greater than the income gains for Panama itself. A link removal analysis reveals that most shipping links are associated with positive and quantitatively important positive international externalities.