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Market support schemes and their interaction: the case of the wool industry created by Malcolm Abbott

By: Material type: TextTextSeries: Agricultural Economics Research, Policy and Practice in Southern Africa ; Volume 52, number 3Johannesburg: Taylor and Francis, 2013Content type:
  • text
Media type:
  • unmediated
Carrier type:
  • volume
ISSN:
  • 03031853
Subject(s): LOC classification:
  • HD1401 AGR
Online resources: Abstract: The focus of this paper is on the conduct and collapse of the Australian, South African and New Zealand wool price stabilisation schemes and the manner in which they interrelated. In particular the degree to which the Australian Wool Corporation acted as a market leader in price determination is analysed and the manner in which the South African and New Zealand authorities acted as free riders to the Australian scheme.
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The focus of this paper is on the conduct and collapse of the Australian, South African and New Zealand wool price stabilisation schemes and the manner in which they interrelated. In particular the degree to which the Australian Wool Corporation acted as a market leader in price determination is analysed and the manner in which the South African and New Zealand authorities acted as free riders to the Australian scheme.

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