The continent of Africa has so much space that you could fit most of the United States, China, India, and a lot of Europe onto it. But if you compare Africa to Europe, Europe has two to three times the length of coastline that Africa has.
Why does that matter? Because, as this fascinating video by Marginal Revolution University explains, coasts mean access to water which makes trade easier and increases economic growth.
As the video explains, economic growth is not only affected by a country’s rules and institutions, but by a country’s natural blessings and natural hindrances.
