Not Only Subterranean Forests: Wood Consumption And Economic Development In Britain (1850-1938)

Iñaki Iriarte-Goñi and María-Isabel Ayuda

No 1107, Documentos de Trabajo (DT-AEHE) from Asociación Española de Historia Económica

Abstract: The essential aim of this paper is to analyze wood consumption in Great Britain over the period 1850-1938. We calculate the apparent consumption of wood in Britain, taking into account both net imports of wood and the home harvest of wood. Then we develop some quantitative exercises which correlate wood consumption with GDP, and with prices of wood and iron (as an alternative material to wood). The main conclusion is that, although wood had lost its economic centrality after the energetic transition, wood consumption continued to grow in Britain both in absolute and relative terms, showing a positive elasticity to GDP superior to the unity. The decline of wood prices in the long run, the innovations affecting wood exploitation and treatment, and the fact that wood was used in a wide range of economic activities, can explain that growth in consumption. Britain faced the increase in wood demand relying almost totally on imports. Thus, although British economic development was to a great extent focussed on what has been called the “subterranean forests” of coal, simultaneously supported large tracts of foreign forest.

Keywords: wood; forest history; industrialization; consumption function (search for similar items in EconPapers)
JEL-codes: C22 N53 N54 O13 Q21 (search for similar items in EconPapers)
Pages: 24
Date: 2011-09
New Economics Papers: this item is included in nep-ene and nep-his
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Related works:
Journal Article: Not only subterranean forests: Wood consumption and economic development in Britain (1850–1938) (2012)
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Persistent link: https://EconPapers.repec.org/RePEc:ahe:dtaehe:1107

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