Shrinking Demand in an Ageing Industry: The Case of Steel

Ballance, R. (1985). Shrinking Demand in an Ageing Industry: The Case of Steel. IIASA Collaborative Paper. IIASA, Laxenburg, Austria: CP-85-010

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Abstract

Many of today's most significant socioeconomic problems, such as slower economic growth, the decline of some established industries, and shifts in patterns of foreign trade, are inter- or transnational in nature. But these problems manifest themselves in a variety of ways; both the intensities and the perceptions of the problems differ from one country to another, so that intercountry comparative analyses of recent historical developments are necessary. Through these analyses we attempt to identify the underlying processes of economic structural change and formulate useful hypotheses concerning future developments. The understanding of these processes and future prospects provides the focus for IIASA's project on Comparative Analysis of Economic Structure and Growth.

Our research concentrates primarily on the empirical analysis of interregional and intertemporal economic structural change, on the sources of and constraints on economic growth, on problems of adaptation to sudden changes, and especially on problems arising from changing patterns of international trade, resource availability, and technology. In this paper R. Ballance considers fundamental changes in one of the most longstanding industries in the last two decades and emphasizes the need for a systematic evaluation of an industrial performance.

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