This paper empirically investigates the effects of transport infrastructure on economic growth in Central and Eastern European Member States (C.E.M.S.) in the period 1995-2016. During the transition ...period in C.E.M.S., most investments were focused on the roads, while railways have been lagging for decades. The aim of this paper is to estimate the effects of transport infrastructure (road and rail) on economic growth while controlling with other variables such as population growth, gross fixed capital formation and trade openness. We use panel data analysis with three standard estimators: pooled ordinary least squares, fixed effects and random effects. The results show positive effects in case of all estimated variables, except the railway infrastructure where the effects seem to be negative. The results illustrate the long-standing problem of inefficient and outdated railway infrastructure. These results should be seen in a broader context, especially in the light of the ongoing desire to reduce CO
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emissions that are to a large extent produced by road transport, while railway transport is more environmentally friendly. This paper supports the European Union's guidelines for the need to invest in railway infrastructure to ensure effective transport in the long term, create competitive advantages, reduce greenhouse gas emissions and thus simulate sustainable economic growth in C.E.M.S.
The aim of this paper is to assess the role of hard and soft infrastructure in trade, distinguishing between traditional trade and supply-chain trade. Using factor analysis, we construct four ...aggregate trade facilitation indicators where we measure hard infrastructure as physical and ICT infrastructure, while soft infrastructure accounts for border efficiency and institutional efficiency. For traditional trade, we use bilateral trade data from UN Comtrade. Supply-chain trade is measured in terms of domestic value-added (DVAFX) embodied in foreign gross exports and foreign value-added (FVA) embodied in domestic gross exports obtained from Eora MRIO database. We use panel data regression analysis with an empirical model specification based on a gravity model and covering the 2000-2019 period. We estimate model with the Poisson Pseudo-Maximum Likelihood Estimator (PPML). To control multilateral trade-resistance terms (MRT), we included reporter and partner fixed effects along with country pair fixed effects. The results confirm a statistically significant relationship between hard and soft infrastructure and trade. ICT and border efficiency have the strongest impact on both types of trade. Supply-chain trade responds most intensely to improvements in institutional efficiency. Results imply that ICT infrastructure and border efficiency might hold even greater importance for CEMS's traditional and supply-chain trade.
Logistics has become one of the most important economic sectors. It significantly affects the transport infrastructure and many other sectors that are crucial for the country’s development. It is the ...factor that also influences trade efficiency. However, the question arises if logistics performance is significant for the trade of critical goods which are energy raw products. The aim of the paper is primarily to investigate the EU energy trade flows in general and to estimate the effect of logistics performance on the international trade of energy raw products. The energy raw products are grouped into solid, liquid, and gaseous products, and separate estimates are made for their export and import. The analysis also differentiates between the trade flows, that is export and import within the EU and trade flows between EU member states and third countries. The empirical model is based on the theory of gravity model extended to include the six subcomponents of the Logistics Performance Index (LPI). The results present that: (1) the standard gravity model variables, such as GDPs of reporter and partner countries and contiguity, are successful in explaining the trade flows of solid and liquid raw energy but in case of gas products, are insignificant; (2) the results indicate that all logistics’ performance subcomponents are highly significant and show positive effects on the export of liquid energy products, while for the solid and gas products, it seems to be insignificant when the energy commodities are more complex and costly to transport and store, and therefore, contiguity, i.e., when countries share a common border, positively affects energy trade; (3) the EU imports most liquid energy products, but is generally very dependent on energy imports. EU policymakers should strive to either make more use of domestic resources or switch more to renewable energy sources.
Even though trade tariffs have generally fallen since the GATT agreement, non-tariff trade barriers still exist and show an upward trend. An important type of non-tariff trade barrier is logistics ...service related to the transport of goods to foreign markets. Efficient logistics is of great importance for small and open economies such as the Central and Eastern European EU member countries that became EU members in 2004 or later and are in the process of economic convergence with the old EU member countries, mostly through trade. On the other hand, logistics is important for old EU member countries because it influences competitiveness in global supply chains. The aim of this paper is to examine the homogeneity of the two blocks of EU countries in terms of logistics performance, i.e. to examine the impact of logistics performance on the international bilateral trade of the EU15 and CEMS with the rest of the world in the period 2010-2018. We develop and estimate a structural gravity model with Poisson pseudo-maximum probability estimator, using the LPI and its sub-indices as the main independent variables of interest. Our results show that differences in LPI values have heterogenous impact on bilateral trade, especially when considering trade in different classes of goods and different groups of country pairs.
The paper presents the main features of Incoterms® 2020, i.e., the International Chamber of Commerce
rules for the use of domestic and international trade terms, which came into force on January 1,
...2020. The International Chamber of Commerce revises the current Incoterms® rules every few
years to eliminate vague and/or imprecise interpretations of the obligations of parties involved in
the international trade. The revisions result in changes to existing terms and/or the introduction of
new terms that help facilitate the flow of goods both domestically and internationally. Therefore, this
paper aims to present the main features of the latest Incoterms® terms that are in force and are used
in international trade. In addition, changes to previous Incoterms® terms are examined and presented
in order to highlight key differences that may influence the choice of the relevant term. Particular
attention has been paid to Incoterms® terms used in sea transport, as sea transport remains the dominant
transport sector in the world trade.
The purpose of this paper is to understand the concept of a fourth-party logistics provider and to identify his functions and importance for an organization. Although the concept of fourth-party ...logistics provider is present in academic researches for a relatively long time, it still remains underestimated. The paper presents a conceptual model that is based on the research of fourth-party logistics provider within the exsisting theorethical and empirical literature. The results have shown that fourth-party logistics provider is not incorporated enough into contemporary supply chain solutions, although a growing demand for it is evident. Future research may be broadened by implementing both qualitative and quantitative approach to evaluate the impact of fourth-party logistics provider on a business performance distinguishing among industries. This paper provides a knowledge-based conceptual framework to understand the value of fourth-party logistics provider inclusion in an organisation supply chain.
Globalization, offshoring and the notable growth of containerization have changed the maritime transport and logistics chains. Ports became integral part of complex supply chains and serve as a ...logistics centres, add value, link flows and influence the supply chain patterns and processes. The port competitiveness is determined by its in-house strengths such as efficient freight handling and hinterland connections and by its position and links in the global supply chains. The aim of this paper is to investigate the importance of port integration in the supply chains overall and to analyse how North Adriatic Ports are integrated into the supply chains. The analysis is based on the sample of 939 firms aggregated by ports regions and classes level within Section H (Nace Rev.2). The assumption is that if the business cycle of all firms (classes) included in the port supply chain is correlated, it can indicate that the port is integrated in the supply chain. The results of our analysis are ambiguous, where the correlation is rather negative than positive. This paper provides the conceptual framework and outline the significance of this investigation for port operators, shipping lines, forwarders and other stakeholders.
The emergence of logistics distribution centers has in the past few decades become a mass phenomenon that has emerged as a result of global economic processes. As part of logistics networks, ...logistics distribution centers are the key link between production and the market, i.e. end users, and function as nodes that facilitate international business activities. For this reason, the aim of this paper is to analyze the characteristics of logistics distribution centers on the example of logistics distribution centers of the selected Western and Central European Union countries and examine the prospects for the development of logistics distribution centers in Croatia. The research results indicate that the Republic of Croatia is less competitive in comparison with Western and Central European countries, although it has a number of logistics distribution centers due to insufficient utilization and renewal of transport infrastructure. Logistics distribution centers are an important center of logistics networks, and the countries will have to devote more attention to their development to attract foreign investment and achieve economic development, because their significance will continue to grow in the future.
This paper provides an overview of the modern technologies used in selected global seaports, and their possible impact on future development of seaports. The research problem stems from inefficience ...of customs procedures, dispute information flow, unneeded container manipulation in port area, and time lost due to bureucracy procedures. Methods used in this paper are the descriptive method, method of analysis, classification method, and compilation method. Since the majority of leading global seaports are placed in China, the authors decided to analyze the most successful seaport from each country, in order to achieve heterogeneity and global insight into used modern technologies. In total, eleven seaports placed on Lloyd’s list Top 100 Ports have been analyzed. Key findings in this paper are: (1) different level of development of a particular country affects different levels of implementation of new technical and technological achievements, resulting in different levels of development of each seaport; (2) future development of modern technologies in seaports leans towards autonomous technologies such as autonomous drones, and self-driving trucks. Modern technologies may improve the safety and efficiency of operations in and outside seaports.
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