The influential economist Jeffrey Sachs argues that throughout history, which of the following, with their long engagements in international trade, have been the most supportive of market institutions?- Mountainous states - Tropical regions - Military societies - Landlocked states - Coastal states
According to the influential economist Jeffrey Sachs, Coastal states have been the most supportive market institutions in their long term engagement in international trade.
Explanation:
Coastal regions have rich history of international trade. Before air transport, there was sea transport which dealt with all intercontinental and also majority of international transport of goods.
The coast being a natural resource, has got a lot of economic activities going on at. This activities range from fishing, tourism, transport and much more.
The coasts are the natural gateways to areas of economic growth such as urban areas. The coast also connects the hitherlands to the outside world thereby enabling trade between this two distant zones.
The coast had readily available labor in the form of the people around the area.
