Journal
AMERICAN ECONOMIC JOURNAL-ECONOMIC POLICY
Volume 5, Issue 3, Pages 287-319Publisher
AMER ECONOMIC ASSOC
DOI: 10.1257/pol.5.3.287
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Using information on 2,300 Air Services Agreements covering 184 countries, we investigate the impact of air services liberalization on passenger flows. We find that a certain level of liberalization is required to have a positive effect on passenger traffic. In particular, we estimate that the multilateralization of multiple designation provisions, Open Skies Agreements and European Economic Area-type agreements would increase passenger traffic worldwide by 0.5, 5, and 10 percent, respectively. The potential endogeneity problem is carefully dealt with using instrumental variables and propensity score matching.
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