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The Relocation Of The International Market For Australian Wool

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  • Simon Ville

Abstract

The marketplace for Australian wool relocated from London to the Australian capital cities in the half‐century after 1880. This represented a major institutional shift that underpinned the development of the Australian economy and made Australia the centre of the international wool market. We analyse the principal demand and supply changes underlying this market shift. Consolidation of worsted manufacturing, demand diversification, improved transport and communications, Australian dominance of international wool production and the growth of the small grazier, shifted the relative market efficiency in favour of Australian auctions.

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  • Simon Ville, 2005. "The Relocation Of The International Market For Australian Wool," Australian Economic History Review, Economic History Society of Australia and New Zealand, vol. 45(1), pages 73-95, March.
    • Handle: RePEc:bla:ozechr:v:45:y:2005:i:1:p:73-95
    DOI: 10.1111/j.1467-8446.2005.00128.x
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    Cited by:

    1. David Merrett & Simon Ville, 2013. "Institution Building and Variation in the Formation of the Australian Wool Market," Australian Economic History Review, Economic History Society of Australia and New Zealand, vol. 53(2), pages 146-166, July.

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