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Boom, depression and cartelisation: Swedish and Finnish timber export industry 1918-1921

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  • Elina Kuorelahti

Abstract

Historians have often cherished the idea of cartels as the 'children of depression' in the interwar period. However, as this article discusses, recessions did not always boost cartelisation; sometimes they hindered it. This article explores for the first time the Swedish-Finnish timber export cartel between 1918 and 1921, and sketches out why the cartel worked best during rising demand and why the recession of 1921 killed it. The article is based on primary sources in the Swedish and Finnish archives. Research on cartel timing is used as the main theoretical framework in interpreting the material. Besides discussing how the direction of demand affected the dynamics in the Swedish-Finnish timber cartel, this article also analyses the roles that the governments and central banks played in the rise and fall of the cartel. The article shows that the direction of demand played a crucial role in the lifespan of the cartel, and argues that even without the involvement of the governments and central banks the cartel would still have been born and would have ultimately collapsed.

Suggested Citation

  • Elina Kuorelahti, 2015. "Boom, depression and cartelisation: Swedish and Finnish timber export industry 1918-1921," Scandinavian Economic History Review, Taylor & Francis Journals, vol. 63(1), pages 45-68, March.
    • Handle: RePEc:taf:sehrxx:v:63:y:2015:i:1:p:45-68
    DOI: 10.1080/03585522.2014.980315
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    1. repec:zbw:bofrdp:1992_001 is not listed on IDEAS
    2. Autio, Jaakko, 1992. "Valuuttakurssit Suomessa 1864-1991. Katsaus ja tilastosarjat," Bank of Finland Research Discussion Papers 1/1992, Bank of Finland.
    3. George Symeonidis, 2002. "The Effects of Competition: Cartel Policy and the Evolution of Strategy and Structure in British Industry," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262194686, April.
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    Cited by:

    1. Pop, Izabela Luiza, 2015. "Cartels: a Good or a Bad Strategy?," MPRA Paper 67314, University Library of Munich, Germany.

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