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A Wolfram in Sheep's Clothing: Economic Warfare in Spain, 1940–1944

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  • Caruana, Leonard
  • Rockoff, Hugh

Abstract

During World War II the United States attempted to prevent Germany from acquiring wolfram (tungsten ore) in Spain by buying it in the open market. Preemptive buying forced the Germans to pay more for and to consume less tungsten, a material crucial for the production of machine tools and armor-piercing shells. The income provided an important incentive for Spain to remain neutral. The naval blockade and the relatively low elasticity of the supply of wolfram contributed to the success of the wolfram-buying campaign.

Suggested Citation

  • Caruana, Leonard & Rockoff, Hugh, 2003. "A Wolfram in Sheep's Clothing: Economic Warfare in Spain, 1940–1944," The Journal of Economic History, Cambridge University Press, vol. 63(1), pages 100-126, March.
  • Handle: RePEc:cup:jechis:v:63:y:2003:i:01:p:100-126_00
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    Cited by:

    1. Marcelo Paiva Abreu, 2014. "A ‘blank cheque'? Portuguese Second World War sterling balances, 1940–73," Economic History Review, Economic History Society, vol. 67(2), pages 535-555, May.
    2. Rosado Cubero, Ana, 2014. "Gilda: El coste de lanzar un guante a un oligopolista/Gilda: The Cost to Challenge a Cartel Member," Estudios de Economia Aplicada, Estudios de Economia Aplicada, vol. 32, pages 247-258, Enero.

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