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Shipping costs, manufactured exports, and economic growth (English)

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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Radelet,Steven; SACHS, JEFFREY D..

Shipping costs, manufactured exports, and economic growth (English). Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/483661483605903571

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