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Social and Behavioral Sciences Commons™
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Articles 1 - 3 of 3
Full-Text Articles in Social and Behavioral Sciences
The Relocation Of The International Market For Australian Wool, Simon Ville
The Relocation Of The International Market For Australian Wool, Simon Ville
Simon Ville
The marketplace for Australian wool relocated from London to the Australian capital cities in the half century after 1880. This represented a major institutional shift that underpinned the development of the Australian economy and made Australia the centre of the international wool market. We analyse the principal demand and supply changes underlying this market shift. Consolidation of worsted manufacturing, demand diversification, improved transport and communications, Australian dominance of international wool production, and the growth of the small grazier shifted the relative market efficiency in favour of Australian auctions.
Social Capital Formation In Australian Rural Communities: The Enhancing Role Of The Stock And Station Agent, Simon Ville
Social Capital Formation In Australian Rural Communities: The Enhancing Role Of The Stock And Station Agent, Simon Ville
Simon Ville
Evidence from the Australian stock and station agent industry is used to examine several unresolved issues of type and measurement in the social capital literature. Two distinct types of social capital are analysed from the evidence, one being long term and innate to a community, the other variable in the shorter term through individual decisions. The two types are causally linked, innate providing propitious conditions for individual investment conditions. Social capital investment is measured through the proxy of goodwill as revealed in takeover analysis.
Financial Intermediaries And The Design Of Loan Contracts In The Australasian Pastoral Sector Before World War Two, Simon Ville, G. Fleming
Financial Intermediaries And The Design Of Loan Contracts In The Australasian Pastoral Sector Before World War Two, Simon Ville, G. Fleming
Simon Ville
This paper examines the pooling and separating contracts designed by Australasian financial intermediaries in the late nineteenth and early twentieth centuries. We show that after an initial screening process these agents altered interest rates and collateral requirements to separate out risk types to reveal additional information on borrowers. In multi-period contracts agents opted for flexible contract structures which permitted changes in individual or community-wide circumstances.