Discussion Paper Series in Economics, Department of Economics, Norwegian School of Economics (NHH)
Bjørn L. Basberg
A Crisis that Never Came. The Decline of the European Antarctic Whaling Industry in the 1950s and -60s.
Abstract: The paper analyses the decline and final close down of the
European Antarctic whaling industry in the 1950s and -60s. This industry
had been led by British and Norwegian companies, which were now challenged
by Japan and Soviet Union that completely took over Antarctic whaling for
the next decades. The decline most severely affected Norway where the
whaling industry was relatively more important than in any other country.
The decline was also disproportionally felt in Norway because the country
provided crew and equipment to many foreign whaling companies. The paper
will therefore have a special focus on the Norwegian industry and how the
challenges were faced there. The analysis reveals that the decline did not
develop into a crisis for the companies involved or in the wider economy.
One main explanation was that business cycles in shipping and in the
general economy were very favourable during the years when the whaling
industry was wound up.
Keywords: Antarctic; whaling; transition; decline.; (follow links to similar papers)
JEL-Codes: N50; N84; (follow links to similar papers)
20 pages, May 16, 2011
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