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Shipping in dire straits: New evidence on trends and cycles in coal freights from Britain, 1919-1939

Author

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  • Klovland, Jan Tore

    (Dept. of Economics, Norwegian School of Economics and Business Administration)

Abstract

New monthly freight rate indices for 13 coal trade routes from Britain 1919-1939 are presented. The new indices form the basis of a review of the interwar freight markets and their relationship to the timing and severity of general business cycles. New time series of laid-up tonnage provide the background for this discussion. The Great Depression starting in the autumn of 1929 created a shipping cycle of unusual length and severity. Real freight rate indices used as a cross-check on productivity gains in shipping raise some doubt on previous estimates of productivity growth in British shipping in the interwar years.

Suggested Citation

  • Klovland, Jan Tore, 2016. "Shipping in dire straits: New evidence on trends and cycles in coal freights from Britain, 1919-1939," Discussion Paper Series in Economics 5/2016, Norwegian School of Economics, Department of Economics.
    • Handle: RePEc:hhs:nhheco:2016_005
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    File URL: http://brage.bibsys.no/xmlui/handle/11250/2384419
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    Cited by:

    1. Marcuzzo, Maria Cristina & Sanfilippo, Eleonora, 2022. "Keynes's personal investments in the London Stock Exchange and his views on the transformation of the British economy," Structural Change and Economic Dynamics, Elsevier, vol. 61(C), pages 512-526.

    More about this item

    Keywords

    Freight markets; business cycles.;

    JEL classification:

    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
    • N14 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Europe: 1913-
    • N74 - Economic History - - Economic History: Transport, International and Domestic Trade, Energy, and Other Services - - - Europe: 1913-

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