A History of the Pan-Pacific Coal Trade from the 1950s to 2011: Exploring the Long-term Effects of a Buying Cartel

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Title A History of the Pan-Pacific Coal Trade from the 1950s to 2011: Exploring the Long-term Effects of a Buying Cartel
Author Bowden, Bradley
Journal Name Australian Economic History Review
Editor Stephen Morgan, Martin Shanahan, Lionel Frost, John Singleton
Year Published 2012
Place of publication Australia
Publisher Wiley-Blackwell Publishing Asia
Abstract Since the early-1960s the Pan-Pacific coal trade has underpinned East Asia’s industrial development. While the genesis of this trade lay in investment decisions by United States-based companies who pioneered exports from Australian and western Canadian mines, its development was largely shaped by the strategies of the Japanese steel mills who acted as a buying cartel. By the early 1980s this cartel had engineered an oversupplied market characterised by constantly falling prices. By 2001, however, this strategy proved counter-productive, as exports of coking coal in particular were concentrated in the hands of an oligopoly of super-efficient producers that drove up prices.
Peer Reviewed Yes
Published Yes
Alternative URI http://dx.doi.org/10.1111/j.1467-8446.2012.00338.x
Volume 52
Issue Number 1
Page from 1
Page to 24
ISSN 0004-8992
Date Accessioned 2012-03-19; 2012-08-19T23:34:45Z
Date Available 2012-08-19T23:34:45Z
Research Centre Centre for Work, Organisation and Wellbeing
Faculty Griffith Business School
Subject Economic History; Organisation and Management Theory
URI http://hdl.handle.net/10072/46405
Publication Type Journal Articles (Refereed Article)
Publication Type Code c1

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