Can profitable arbitrage opportunities in the raw cotton market explain Britain’s continued preference for mule spinning?
AbstractIn an influential article Saxonhouse and Wright argued that the quality of local cotton was the single most important factor in explaining national preferences for ring or mule spinning. For Britain, they argue that mills using more flexible mule spindles could exploit arbitrage opportunities between different types of cotton in the Liverpool market, reducing the incentives to adopt rings. We use newly assembled price data to show that such cost-reducing arbitrage opportunities were small. We argue instead that the primary determinants of Lancashire’s technological choice were demand factors, but that the availability of good raw cotton did determine technological choice in emerging cotton industries.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by London School of Economics and Political Science, Department of Economic History in its series Economic History Working Papers with number 515.
Length: 23 pages
Date of creation: Nov 2002
Date of revision:
Contact details of provider:
Postal: LSE, Dept. of Economic History Houghton Street London, WC2A 2AE, U.K.
Phone: +44 (0) 20 7955 7084
Web page: http://www.lse.ac.uk/economicHistory/
More information through EDIRC
Find related papers by JEL classification:
- N0 - Economic History - - General
- O52 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Europe
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Leunig, Timothy, 2001.
"NEW ANSWERS TO OLD QUESTIONS: EXPLAINING THE SLOW ADOPTION OF RING SPINNING IN LANCASHIRE, 1880 l913,"
The Journal of Economic History,
Cambridge University Press, vol. 61(02), pages 439-466, June.
- Tim Leunig, 2001. "New answers to old questions : explaining the slow adoption of ring spinning in Lancashire, 1880-1913," LSE Research Online Documents on Economics 493, London School of Economics and Political Science, LSE Library.
- Tim Leunig, 2000. "New answers to old questions: explaining the slow adoption of ring spinning in Lancashire, 1880-1913," Economic History Working Papers 22378, London School of Economics and Political Science, Department of Economic History.
- Gary R. Saxonhouse & Gavin Wright, 1984. "New Evidence on the Stubborn English Mule and the Cotton Industry, 1878-1920," Economic History Review, Economic History Society, vol. 37(4), pages 507-519, November.
- Cox, Alonzo B., 1928. "Marketing American Cotton in England," Technical Bulletins 156323, United States Department of Agriculture, Economic Research Service.
- Sandberg, Lars G, 1969. "American Rings and English Mules: The Role of Economic Rationality," The Quarterly Journal of Economics, MIT Press, vol. 83(1), pages 25-43, February.
- Lazonick, William, 1981. "Factor Costs and the Diffusion of Ring Spinning in Britain Prior to World War I," The Quarterly Journal of Economics, MIT Press, vol. 96(1), pages 89-109, February.
- Gary Saxonhouse & Gavin Wright, 1987. "Stubborn mules and vertical integration: the disappearing constraint?," Economic History Review, Economic History Society, vol. 40(1), pages 87-94, 02.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Lucy Ayre on behalf of EH Dept.).
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 references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link 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 profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.