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World Demand for Cotton during the Nineteenth Century: Wright's Estimates Re-examined

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  • Hanson, John R.

Abstract

A low rate of growth of world demand for cotton figures prominently in recent attempts to understand the post-bellum retardation of the southern economy. Gavin Wright, especially, stresses this factor in several articles and a recent book.1 Using-sophisticated regression techniques to estimate the rate of growth of demand for American cotton during both the ante- and post-bellum eras and the magnitude of the change in the rate between them, Wright finds a decline of more than two thirds. Such an occurrence could hardly have helped the South make a prompt recovery from the Civil War.

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  • Hanson, John R., 1979. "World Demand for Cotton during the Nineteenth Century: Wright's Estimates Re-examined," The Journal of Economic History, Cambridge University Press, vol. 39(4), pages 1015-1021, December.
    • Handle: RePEc:cup:jechis:v:39:y:1979:i:04:p:1015-1021_09
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    1. Craft, Erik D. & Monks, James, 2008. "The postbellum demand for cotton revisited," Explorations in Economic History, Elsevier, vol. 45(2), pages 199-206, April.

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