Portage: Path Dependence and Increasing Returns in U.S. History
We examine portage sites in the U.S. South, Mid-Atlantic, and Midwest, including those on the fall line, a geomorphologic feature in the southeastern U.S. marking the final rapids on rivers before the ocean. Historically, waterborne transport of goods required portage around the falls at these points, while some falls provided water power during early industrialization. These factors attracted commerce and manufacturing. Although these original advantages have long since been made obsolete, we document the continuing--and even increasing--importance of these portage sites over time. We interpret this finding in a model with path dependence arising from local increasing returns to scale.
-
-
Copy CitationHoyt Bleakley and Jeffrey Lin, "Portage: Path Dependence and Increasing Returns in U.S. History," NBER Working Paper 16314 (2010), https://doi.org/10.3386/w16314.
Published Versions
More from the NBER
In addition to working papers, the NBER disseminates affiliates’ latest findings through a range of free periodicals — the NBER Reporter, the NBER Digest, the Bulletin on Health, and the Bulletin on Entrepreneurship — as well as online conference reports, video lectures, and interviews.
