Abstract
The first great unbundling (Baldwin, 2006) took place during the industrial revolution, when it first became possible to produce goods in a location that was different from where they were consumed. This process facilitated economic agglomeration and led to the development of large cities, which in turn allowed for more specialization within specific regional areas. The process of specialization was based on local advantages, some of which were geographical in origin, while others developed more by accident, dependent on the location of individual entrepreneurs.
This chapter has previously appeared as ETLA Discussion Paper No. 1193/2009.
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Lundan, S. (2015). Distance-Related Barriers and the Internationalization of Finnish MNEs. In: Lundan, S. (eds) Transnational Corporations and Transnational Governance. Palgrave Macmillan, London. https://doi.org/10.1057/9781137467690_5
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DOI: https://doi.org/10.1057/9781137467690_5
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