729 B
729 B
Market Access Development Sequence
Definition
The historical progression by which regions gain improved market access, starting with coastal and riverine areas, then extending to regions with artificial navigation improvements, and finally reaching isolated inland areas. Market access development sequence explains the temporal patterns of economic development.
Source Chapter
Book I, Chapter 3
Context
Smith describes how improvements in art and industry begin where water-carriage provides market access, are later in extending themselves to inland parts of the country, and only reach areas dependent on land-carriage much later, establishing a clear development sequence.
Economic Domain
Exchange