In the Wealth of Nations, Adam Smith put great stress on the relationship between geographic location and international trade. Smith observed that a more extensive division of labor was likely to develop first along sea coasts and navigable rivers, where transport costs were especially low: As by means of water-carriage a more extensive market is opened to every sort of industry than what land-carriage alone can afford it, so it is upon the sea-coast...
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INFORMACIÓN
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1998/01/01
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Documento de trabajo
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111639
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1
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1
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2017/01/05
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Disclosed
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Shipping costs, manufactured exports, and economic growth
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shipping cost