Globalized Freight Transport

Globalized Freight Transport

Intermodality, E-Commerce, Logistics and Sustainability

Transport Economics, Management and Policy series

Edited by Thomas R. Leinbach and Cristina Capineri

The worldwide movement of freight has emerged as one of the most critical and dynamic aspects of the transport sector. The contributors to this study examine the current state of global freight transport, with an emphasis on Europe and North America and their extra-regional linkages. These original contributions synthesize existing knowledge, highlight new developments, problems and possible solutions, and underscore the need for further research.

Chapter 9: Policy Implications of Dynamic Globalized Freight Flows in North America

Mark Maggio and Roger Stough

Subjects: economics and finance, transport, environment, transport, urban and regional studies, transport

Extract

9. Policy implications of dynamic globalized freight flows in North America Mark Maggio and Roger Stough TRANSPORT POLICIES, FREIGHT MOVEMENTS AND TRADE The scope of transport and the transactions costs that facilitate and enable trade are a reflection of the existing technology and institutional infrastructure that support the international trading system, which is seen to be mutually beneficial to both buyer and seller. The theory of these costs and benefits (Ricardo 1817) was seemingly well understood in the comparative advantage era of trade of the early and mid-twentieth century.1 However, recent forces have driven a renewed and dynamically changing interest in international trade, and these developments have obscured this understanding and have, indeed, driven the development of alternative theory (Fujita and Hu 2001; Fujita et al. 2001; Krugman 1991). Global trade policy negotiations over the last 15 years, from the US perspective, have centered on the so-called ‘Washington Consensus’ items, a term coined in 1990 by John Williamson, now taken as synonymous with ‘globalization’ (see Williamson 2002). There have been a number of critiques of what was seen as a policy agenda, including Naím (2000, 2002) and Stiglitz (2002). However, Williamson (2002) suggests that the components of the Washington Consensus were never intended to be a policy agenda. It comprises suggestions for the management of trading partner economies that include fiscal discipline and redirection of public expenditure priorities toward fields offering both high economic returns and the potential to improve income distribution such as primary...

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