Grigoriou, Christopher2012-06-062012-06-062007-08https://hdl.handle.net/10986/7294This paper assesses the impact of internal infrastructure and landlockedness on Central Asian trade using a panel gravity equation estimated on a large sample of countries (167 countries over 1992-2004). The panel structure of the dataset makes it possible to control for country-pair specific effects (as opposed to the usual importer and exporter effects) that would otherwise be captured by the coefficients of time-invariant variables such as distance or landlockness. Our findings highlight the need to pursue a dual policy agenda. First, transit corridors are regional public goods and should be managed as such through international cooperation. International Financial Institutions can -and do- play a key role in this regard through assistance, coordination and policy dialogue. Second, the Central Asian countries should actively seek diversification of their transit corridors to prevent the creation or maintenance of monopoly positions in transit and bottleneck points such as trans-shipment platforms.CC BY 3.0 IGOABSOLUTE VALUEACCESS TO THE SEAAIMAIRAIRPORTSALTERNATIVE TRANSPORTBILATERAL IMPORTSBILATERAL TRADEBILATERAL TRADE RELATIONSBORDER CROSSINGBORDER CROSSINGSBORDER TRADEBOTTLENECKSBOXESBUSINESS ENVIRONMENTCAUSE FOR CONCERNCDCENTRAL ASIANCENTRAL PLANNINGCIFCOMMODITIESCOMPARATIVE ADVANTAGECOMPARATIVE ECONOMICSCONTAINERSCOST OF TRANSPORTCOSTS OF TRAVELCROSSINGCURRENCYCUSTOMSCUSTOMS CHARGESECONOMETRICSECONOMIC EFFICIENCYECONOMIC PERFORMANCEECONOMIC POLICYECONOMIC RESEARCHECONOMIC SYSTEMSELASTICITYELASTICITY OF SUBSTITUTIONELASTICITY OF TRADEENDOGENOUS VARIABLESEXOGENOUS VARIABLESEXPORT PERFORMANCEEXPORT VOLUMESEXPORTSEXTERNAL TRADEEXTREME POVERTYFOREIGN TRADEFREE TRADEFREE TRADE AGREEMENTSFREIGHTFREIGHT COSTSFREIGHT PAYMENTSFREIGHT RATESFREIGHT TRANSPORTGDPGDP DEFLATORGDP PER CAPITAGLOBAL MARKETSGRAVITY EQUATIONGRAVITY MODELGRAVITY MODELSGROSS DOMESTIC PRODUCTHIGH TRANSPORTINCOME LEVELSINFRASTRUCTURE DEVELOPMENTINTERNATIONAL PRODUCTIONINTERNATIONAL TRADEINTERNATIONAL TRANSPORTINVENTORYJOURNEYLAND TRANSPORTLANDLOCKED COUNTRIESMARGINAL COSTMODES OF TRANSPORTMONOPOLIESMONOPOLISTIC COMPETITIONMONOPOLYMULTILATERAL TRADEOIL PRICESPACIFIC REGIONPASSENGERSPORT FACILITIESPRICE INDEXPUBLIC GOODQUALITY OF TRANSITRAILRAIL CONNECTIONSRAIL CORRIDORRAIL NETWORKRAIL NETWORKSRAIL ROUTERAILROADRAILROADSRAILWAYRAILWAY LINESRAILWAYSREAL EXCHANGE RATEREGIONAL TRADEREGIONAL TRADE AGREEMENTSREGIONALISMREGIONALIZATIONROADROAD CARGOROAD INFRASTRUCTUREROAD MAINTENANCEROAD NETWORKROADSROUTEROUTESRURAL ROADSSHIPMENTSSHIPPINGSHIPPING COSTSSPECIALIZATIONSTOCKSTERMS OF TRADETRADE COSTSTRADE DATATRADE FACILITATIONTRADE FLOWSTRADE MORETRADE PARTNERSTRADE PATTERNSTRADE POLICIESTRADE POLICYTRADE VOLUMESTRAFFICTRAFFIC DENSITYTRAFFIC FLOWSTRANSITTRANSIT CORRIDORTRANSIT CORRIDORSTRANSIT COUNTRIESTRANSIT INFRASTRUCTURETRANSIT SERVICESTRANSIT TIMESTRANSIT TRADETRANSITION ECONOMIESTRANSPARENCYTRANSPORTTRANSPORT COSTSTRANSPORT FACILITATIONTRANSPORT INFRASTRUCTURETRANSPORT SECTORTRANSPORT SERVICESTRANSPORTATIONTRANSPORTATION COSTSTRINIDAD AND TOBAGOTRUCKSUTILITY FUNCTIONUTILITY MAXIMIZATIONVOLUME OF TRADEWORLD MARKETSWTOWorld Bank10.1596/1813-9450-4335