Resource boom and bust, 1885-1920: regional wealth evidence from probate records

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Australian Economic History Review, 2004, vol. 44, issue 1, pages 52-78

Abstract: Wealth micro-data from records probated by the Thunder Bay District Surrogate Court for 1885-1920 are examined. These data span the Canadian wheat boom era and find a break in wealth accumulation over the period 1900-1914. A bust follows the boom and real wealth during 1915-1920 is approximately 75% lower than 1910-1914. Regression results show the key determinants of wealth in the region to be time period variables, gender, literacy, occupation, marital status, and number of children. The boom had no long-term impact on individual wealth levels in the Thunder Bay District. Copyright Blackwell Publishing Asia Pty Ltd and the Economic History Society of Australia and New Zealand 2004.

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