IDEAS home Printed from https://ideas.repec.org/a/bla/ecorec/v72y1996i218p260-271.html
   My bibliography  Save this article

The Wool Debt, the Wool Stockpile and the National Interest: Did the Garnaut Committee Get it Right?

Author

Listed:
  • HENRY HASZLER
  • GEOFF EDWARDS
  • ANTHONY CHISHOLM
  • PHILLIP HONE

Abstract

In July 1993 the Wool Industry Review (Garnaut) Committee presented its recommendations on disposal of the wool stockpile, on wool marketing, and on organizational arrangements in the wool industry. This paper focuses on the Report's treatment of two issues central to the future economic benefits to Australia from wool: the approach to the industry's stockpile‐related debt, and disposal of the stockpile. There are strong grounds for thinking that the Garnaut Committee's recommendations on these issues– accepted by the government–are contrary to the best interests of the wool industry and Australia.

Suggested Citation

  • Henry Haszler & Geoff Edwards & Anthony Chisholm & Phillip Hone, 1996. "The Wool Debt, the Wool Stockpile and the National Interest: Did the Garnaut Committee Get it Right?," The Economic Record, The Economic Society of Australia, vol. 72(218), pages 260-271, September.
    • Handle: RePEc:bla:ecorec:v:72:y:1996:i:218:p:260-271
    DOI: 10.1111/j.1475-4932.1996.tb00958.x
    as

    Download full text from publisher

    File URL: https://doi.org/10.1111/j.1475-4932.1996.tb00958.x
    Download Restriction: no
    File URL: https://libkey.io/10.1111/j.1475-4932.1996.tb00958.x?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Bardsley, Peter, 1994. "The Collapse of the Australian Wool Reserve Price Scheme," Economic Journal, Royal Economic Society, vol. 104(426), pages 1087-1105, September.
    2. Campbell, Rachel & Gardiner, B. & Haszler, Henry, 1980. "On The Hidden Revenue Effects Of Wool Price Stabilisation In Australia: Initial Results," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 24(1), pages 1-15, April.
    3. Powell, Alan A., 1959. "Export Receipts And Expansion In The Wool Industry," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 3(2), pages 1-11, December.
    4. Rueben C. Buse, 1958. "Total Elasticities—A Predictive Device," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 40(4), pages 881-891.
    5. Haszler, Henry, 1994. "Australia's Wool Policy Debacle: Continuing Government Failure," 1994 Conference (38th), February 8-10, 1994, Wellington, New Zealand 148239, Australian Agricultural and Resource Economics Society.
    6. Henry Haszler, 1994. "Australia's Wool Policy Debacle: Continuing Government Failure," Working Papers 1994.06, School of Economics, La Trobe University.
    7. H. Don & B.H. Gunasekera & Brian S. Fisher, 1992. "Australias's Recent Experience with the Collapse of its Wool Buffer Stock Scheme: Some Key Lessons," The World Economy, Wiley Blackwell, vol. 15(2), pages 251-269, March.
    8. Henry Haszler, 1994. "Australia's Wool Policy Debacle: Continuing Government Failure," Working Papers 1994.06, School of Economics, La Trobe University.
    9. Beare, Stephen & Meshios, Helen, 1990. "Substitution Between Wools Of Different Fibre Diameter," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 34(1), pages 1-11, April.
    10. Stephen Beare & Helen Meshios, 1990. "Substitution Between Wools Of Different Fibre Diameter," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 34(1), pages 56-66, April.
    11. M.R. Cronin, 1979. "Export Demand Elasticities With Less Than Perfect Markets," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 23(1), pages 69-72, April.
    12. Cronin, M.R., 1979. "Export Demand Elasticities With Less Than Perfect Markets," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 23(1), pages 1-4, April.
    13. R. Campbell & B. Gardiner & H. Haszler, 1980. "On The Hidden Revenue Effects Of Wool Price Stabilisation In Australia: Initial Results," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 24(1), pages 1-15, April.
    14. Zeitsch, John & Lawrence, Denis, 1992. "Fibre Substitution in the United Kingdom Worsted Spinning Sector," 1992 Conference (36th), February 10-13, 1992, Canberra, Australia 147356, Australian Agricultural and Resource Economics Society.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Abbott, Malcolm & Merrett, David, 2019. "Counting the cost: the reserve price scheme for wool 1970-2001," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 63(4), October.
    2. FRASER Iain & WASCHIK Robert, 2010. "Agricultural Land Retirement for Biodiversity: The Australian Wool Industry," EcoMod2003 330700055, EcoMod.
    3. Iain Fraser & Robert Waschik, 2005. "Agricultural Land Retirement and Slippage: Lessons from an Australian Case Study," Land Economics, University of Wisconsin Press, vol. 81(2).
    4. Waschik, Robert & Fraser, Iain, 2007. "A computable general equilibrium analysis of export taxes in the Australian wool industry," Economic Modelling, Elsevier, vol. 24(4), pages 712-736, July.
    5. Chris Jones & Flavio Menezes & Francis Vella, 2004. "Auction Price Anomalies: Evidence from Wool Auctions in Australia," The Economic Record, The Economic Society of Australia, vol. 80(250), pages 271-288, September.
    6. I. Fraser & W. Horrace, 2003. "Technical Efficiency of Australian Wool Production: Point and Confidence Interval Estimates," Journal of Productivity Analysis, Springer, vol. 20(2), pages 169-190, September.
    7. Richardson, Bob, 2001. "The politics and economics of wool marketing, 1950-2000," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 45(1), pages 1-21.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Edwards, Geoff W. & Freebairn, John W., 1982. "The Social Benefits from an Increase in Productivity in a Part of an Industry," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 50(02), pages 1-18, August.
    2. Chang, Hui-Shung (Christie), 2000. "A Cointegration Analysis of Wool Prices," Working Papers 12929, University of New England, School of Economics.
    3. Chang, Hui-Shung (Christie), 2000. "Stability of price premiums for wool," 2000 Conference (44th), January 23-25, 2000, Sydney, Australia 123621, Australian Agricultural and Resource Economics Society.
    4. Haynes, J.E., 1985. "Rural Assistance Levels: The Influence Of Policies And World Price Changes," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 29(1), pages 1-17, April.
    5. Richardson, Bob, 1982. "On The Hidden Revenue Effects Of Wool Price Stabilisation In Australia: Initial Results - A Comment," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 26(1), pages 1-3, April.
    6. Haszler, Henry & Curran, Bill, 1982. "On The Hidden Revenue Effects Of Wool Price Stabilisation In Australia: Initial Results- A Reply," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 26(1), pages 1-6, April.
    7. Geoff W. Edwards, 1987. "Agricultural Policy Debate: A Survey," The Economic Record, The Economic Society of Australia, vol. 63(2), pages 129-143, June.
    8. Fraser, Rob W. & Murrell, A.J., 1990. "The Australian Wool Corporation's Reserve Price Scheme: An Assessment of Price Stabilisation and Producer Benefits," 1990 Conference (34th), February 13-15, 1990, Brisbane, Australia 145082, Australian Agricultural and Resource Economics Society.
    9. George Verikios, 2004. "A Model of the World Wool Market," Economics Discussion / Working Papers 04-24, The University of Western Australia, Department of Economics.
    10. John C. Quiggin, 1983. "Wool Price Stabilisation And Profit Risk For Wool Users," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 27(1), pages 31-43, April.
    11. Verikios, George, 2009. "Modelling the world wool market: A hybrid approach," Economic Modelling, Elsevier, vol. 26(2), pages 418-431, March.
    12. Templeton, Deborah J. & Griffith, Garry R. & Piggott, Roley R. & O'Donnell, Christopher J., 2004. "Measuring the Impact of Staple Strength-Enhancing Technologies on Australian Wool Producer Profits: A Duality-Based Approach," Working Papers 12922, University of New England, School of Economics.
    13. Mullen, John D. & Alston, Julian M. & Wohlgenant, Michael K., 1989. "The Impact Of Farm And Processing Research On The Australian Wool Industry," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 33(1), pages 1-16, April.
    14. John W. Freebairn, 1989. "Some Effects of Reducing Excess in Infrastructure Charges on the Export Coal Industry," The Economic Record, The Economic Society of Australia, vol. 65(4), pages 345-356, December.
    15. Abbott, Malcolm & Merrett, David, 2019. "Counting the cost: the reserve price scheme for wool 1970-2001," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 63(4), October.
    16. A. R. Pagan & J. H. Shannon, 1987. "How Reliable are ORANI Conclusions?," The Economic Record, The Economic Society of Australia, vol. 63(1), pages 33-45, March.
    17. Zhao, Xueyan & Mullen, John D. & Griffith, Garry R. & Griffiths, William E. & Piggott, Roley R., 2000. "An Equilibrium Displacement Model of the Australian Beef Industry," Research Reports 28007, New South Wales Department of Primary Industries Research Economists.
    18. Lence, Sergio H.(Sergio Horacio), 1988. "Transfer costs in agricultural trade: implications for empirical research," ISU General Staff Papers 1988010108000017599, Iowa State University, Department of Economics.
    19. Watson, Alistair S., 1980. "Wool In 1980," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 24(2), pages 1-15, August.
    20. Robert J. Myers & Roley R. Piggott & William G. Tomek, 1990. "Estimating Sources Of Fluctuations In The Australian Wool Market: An Application Of Var Methods," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 34(3), pages 242-262, December.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:ecorec:v:72:y:1996:i:218:p:260-271. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: https://edirc.repec.org/data/esausea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.