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Investment decision-making and industrial performance: The British wool industry during the interwar years

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  • Sue Bowden
  • David M. Higgins

Abstract

As exogenous shocks impact on industry we believe it timely to revisit the experience of two 'staple' industries during the interwar period: cotton and wool textiles. Using a variety of under- explored primary source materials we argue that the ability to withstand the shocks of the interwar years was largely dependent on prior investment decisions. In cotton textiles the re floatation boom precluded strategic flexibility and encouraged collusion. The absence of such behaviour in wool textiles fostered competition and the pursuit of a successful marketing policy.

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  • Sue Bowden & David M. Higgins, 2015. "Investment decision-making and industrial performance: The British wool industry during the interwar years," Business History, Taylor & Francis Journals, vol. 57(2), pages 224-240, March.
    • Handle: RePEc:taf:bushst:v:57:y:2015:i:2:p:224-240
    DOI: 10.1080/00076791.2014.898632
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    References listed on IDEAS

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    1. Avinash K. Dixit & Robert S. Pindyck, 1994. "Investment under Uncertainty," Economics Books, Princeton University Press, edition 1, number 5474.
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    Cited by:

    1. Jordan, David, 2023. "Failing to level up? Industrial policy and productivity in interwar Northern Ireland," QUCEH Working Paper Series 23-04, Queen's University Belfast, Queen's University Centre for Economic History.
    2. David Jordan, 2023. "Macroeconomic Perspectives on Productivity," Working Papers 031, The Productivity Institute.

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