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Article
Rent seeking or market strengthening? Industry associations in New Zealand wool broking
Business History Review
  • Simon Ville, University of Wollongong
Document Type
Journal Article
Publication Date
1-1-2007
Abstract

This paper builds on recent conceptual work about associations that is drawn from the new institutional economics. It uses evidence from New Zealand wool broking to indicate the circumstances in which industry associations can operate effectively and in the broader public interest. Through their strong associative capacity and effective specialization of function, wool-broking industry associations developed flexible routines for managing wool auctions, mediated disputes, mitigated opportunism, addressed major market disruptions, and served as a communication channel with government. External pressures and monitoring from other business interests, governments, and a competitive wool market constrained rent-seeking behavior, preventing members from benefiting at the expense of others.

RIS ID
22424
Citation Information
Simon Ville. "Rent seeking or market strengthening? Industry associations in New Zealand wool broking" Business History Review Vol. 81 Iss. 2 (2007) p. 297 - 321
Available at: http://works.bepress.com/sville/22/