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Structural Change in the Metals Industry: A Quantitative Assessment

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  • JOHN SOLADAY

Abstract

This study examines the major changes that have occurred in the metals industry over the past 35 years. A quantitative assessment of the impact of these changes on consumption and production is provided. The study finds that the slowing down in industrial activity in the metals‐using sector, which began in the early 1970s, is the major factor behind the weak growth in metals consumption. The structural changes which have affected demand are minor in comparison. On the supply side, the dominant factor behind relatively high production is the overhang of mine capacity that had been built in aicipation of much higher metals consumption. Again, the structural factors are relatively unimportant.

Suggested Citation

  • John Soladay, 1988. "Structural Change in the Metals Industry: A Quantitative Assessment," Natural Resources Forum, Blackwell Publishing, vol. 12(4), pages 315-337, November.
    • Handle: RePEc:wly:natres:v:12:y:1988:i:4:p:315-337
    DOI: 10.1111/j.1477-8947.1988.tb00833.x
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    References listed on IDEAS

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    1. Dale Jorgenson, 1967. "The Theory of Investment Behavior," NBER Chapters, in: Determinants of Investment Behavior, pages 129-175, National Bureau of Economic Research, Inc.
    2. Berndt, Ernst R & Wood, David O, 1979. "Engineering and Econometric Interpretations of Energy-Capital Complementarity," American Economic Review, American Economic Association, vol. 69(3), pages 342-354, June.
    3. Robert Ferber, 1967. "Determinants of Investment Behavior," NBER Books, National Bureau of Economic Research, Inc, number ferb67-1.
    4. David A. Gulley, 1987. "The New Future of World Metals: A Conference Report," Natural Resources Forum, Blackwell Publishing, vol. 11(1), pages 67-76, February.
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