Chapter

Foundations

Geoffrey Jones

in Merchants to Multinationals

Published in print March 2002 | ISBN: 9780199249992
Published online November 2003 | e-ISBN: 9780191596483 | DOI: http://dx.doi.org/10.1093/0199249997.003.0002
 Foundations

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This chapter reviews the growth of British merchants in the eighteenth and nineteenth centuries. They were widely spread around the ports and entrepôts of the developing world by 1870. They reduced transactions and information costs to buyers and sellers in a context where distances remained large, and there were high levels of uncertainty about markets.

Keywords: developing countries; eighteenth century; information costs; markets; merchants; nineteenth century; ports; trade intermediation; transaction costs; uncertainty

Chapter.  13631 words. 

Subjects: Economic History

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