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The Relocation of the Market for Australian Wool, 1880-1939




Type Of Work


  • Scholarly edition

Abstract


  • Between the 1880s and 1930s the international wool auction market

    shifted decisively from Britain to Australia. A series of historical developments

    altered the efficiency criteria for the existing institutional arrangements,

    notably the growing international dominance of Australian wool production, the

    evolution of the small grazier, the geographical diversification of demand,

    and improved international transport and communications. Central to this market

    shift was the role of large pastoral agent firms based in Australia who employed

    their local knowledge, producer contacts, and trade specialisation to reduce

    costs. Australian graziers benefited from local market signals and quicker

    sale realisation. Overseas buyers increasingly came from outside Britain, and

    their contacts with Australia were aided by much improved long distance

    shipping and telegram communications.

Publication Date


  • 2002

Citation


  • Ville, S. (2002). The Relocation of the Market for Australian Wool, 1880-1939. Retrieved from http://business.uow.edu.au/econ/who/index.html

Web Of Science Accession Number


Type Of Work


  • Scholarly edition

Abstract


  • Between the 1880s and 1930s the international wool auction market

    shifted decisively from Britain to Australia. A series of historical developments

    altered the efficiency criteria for the existing institutional arrangements,

    notably the growing international dominance of Australian wool production, the

    evolution of the small grazier, the geographical diversification of demand,

    and improved international transport and communications. Central to this market

    shift was the role of large pastoral agent firms based in Australia who employed

    their local knowledge, producer contacts, and trade specialisation to reduce

    costs. Australian graziers benefited from local market signals and quicker

    sale realisation. Overseas buyers increasingly came from outside Britain, and

    their contacts with Australia were aided by much improved long distance

    shipping and telegram communications.

Publication Date


  • 2002

Citation


  • Ville, S. (2002). The Relocation of the Market for Australian Wool, 1880-1939. Retrieved from http://business.uow.edu.au/econ/who/index.html

Web Of Science Accession Number