| With the globalization of the world economy, the maritime industry is becoming increasingly important. This research is motivated by the contrast between the importance of the contemporary maritime industry and the sparsity of systematic and in-depth research of legal and economic theories that underpin it. Despite the, paramount importance of the maritime industry for globalization and international trade, many fundamental legal and economic issues underpinning shipping policies remain unknown and deserve to be thoroughly investigated. From a theoretical point of view, very few attempts have thus far been made to explore the relation between national economy and the development of maritime industry.; This research contributes to the existing literature in three aspects. First, the legal and economic theories underpinning the maritime industry, such as the formulating process of maritime policy, and the relationship between economic indicators and maritime policy, are not only analyzed by applying legal and economic theory---in particular the analytic jurisprudence and economic sociology, but also examined empirically by applying quantitive methodology. Most work in this aspect is original and, potentially, makes an important contribution to central government upon the formulation of maritime policy against maritime development and governance.; Secondly, for the first time, new indicators, i.e. National Carriage Rate (NCR) and National Seafarer Employment Rate (LASER), have been introduced to examine the development of a specific economy's maritime industry. Index method is then applied for the quantification of maritime policy in the context of the World Trade Organization (WTO). Through these preparations, the relation between three defined indicators, i.e. NCR, NSER and Balance of Payments (BOP) rate, and national maritime policy is established. The empirical results disclose the specific relation between each indicator and maritime policy, which provides an alternative approach to examine whether an economy's maritime policy is appropriate to the development of its maritime industry.; Finally, this study makes a comprehensive review upon the development of China maritime industry and legal reform in shipping policies, and provides in-depth legislative suggestions for China government to optimize the future development of its maritime industry for the benefit of its wider economy and social welfare maximization. |
