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Reassessing the role of industry associations through an examination of Australian and New Zealand wool marketing, 1890-1960

Grant


Scheme


  • Discovery Projects

Abstract


  • Industry associations have been commonplace in Australia and New Zealand. Scholarly work assigns to them rent-seeking motives, while competition policy discourages many forms of inter-firm cooperation. We will investigate whether literature and policy have overlooked an important positive contribution of associations to economic expansion: the ability to mitigate market imperfections. We will deploy recent insights of the new institutional economics and social capital literatures, and draw upon newly-unearthed archives of associations in wool marketing to evaluate these institutional arrangements. We will narrate the first historical study of industry associations in either country and the emergence of their first major commodity market.

Date/time Interval


  • 2010

Sponsor Award Id


  • DP1095758

Local Award Id


  • 11010

Scheme


  • Discovery Projects

Abstract


  • Industry associations have been commonplace in Australia and New Zealand. Scholarly work assigns to them rent-seeking motives, while competition policy discourages many forms of inter-firm cooperation. We will investigate whether literature and policy have overlooked an important positive contribution of associations to economic expansion: the ability to mitigate market imperfections. We will deploy recent insights of the new institutional economics and social capital literatures, and draw upon newly-unearthed archives of associations in wool marketing to evaluate these institutional arrangements. We will narrate the first historical study of industry associations in either country and the emergence of their first major commodity market.

Date/time Interval


  • 2010

Sponsor Award Id


  • DP1095758

Local Award Id


  • 11010