The hidden companies of the global economy: the development of global commodity traders, 1945-2015

This project examines the development of specialised global commodity trading companies after 1945. Although the handful of existing large independent commodity traders have been characterised as the hidden companies of the global economy, it does not mean that they are unimportant. By controlling the flow of hundred of billions of dollars worth of the world?s commodities these large companies play a very important role in the functioning of the global economy. The global commodity traders buy, transport and sell the basic stuff that the world needs to function and on which modern life hinges ? metals and minerals, oil and foodstuff. However, although the commodity trading companies are very important, very little is actually known about these companies, both how they operate today, but even more importantly how they grew to become so important. The aim of the project is to study the development of independent commodity trading firms from 1945 to the present, opening up a new research agenda by assessing new sources of information. The overarching research question concerns the role of these companies in the global economy and the project seeks to address three fundamental aspects of this role. 1. How have the companies historically operated? 2. What has been their impact on the development of the host economies in which they operate? 3. How have commodity trading companies affected the evolution of the global economy, the global flow of commodities and the evolution of commodity markets and prices? During the project period we have published important articles in key international journals (Business History, Enterprise & Society, two in Business History Review). In addition, we have published chapters in scientific anthologies, and two chapters in The Routledge Companion to the Makers of Global Business, a new academic handbook which is important for all researchers working on the historical development of international business. There are several more articles on the way based on world being done as part of the project, and which will be sent to international journals in the coming years. Taken together, this signals that we were able in the project to establish new knowledge about the research area and that we have been able to reach the international academic community with our research. During the research project we have participated actively with presentations at international conferences, and whenever we have had the opportunity, we have presented our research to a more general audience. A central aim of the project was to open up a new research field by making use of source material which had not been utilised before and by establishing connections with the industry. Both of these strategies have been applied, and both have given good results. Especially in the phd-project a long list of industry insiders from the commodity trading industry were interviewed. We have also made use of specialised trade journals such as Metal Bulletin, Platts Metal´s Weekly and E & MJ Metal and Mineral Markets, sources that had not previously been used in a comprehensive manner by historians before. During the project period we also worked actively to include master students in history in the project by encouraging them to write theses about international commodity trading. Six master students were recruited and they all delivered relevant theses with good results.

Dette punktet ser ut til å ha kommet til i senere utlysninger og virker ikke til å gjelde dette prosjektet som hadde starttidspunkt i 2015.

This project will examine the development of global commodity traders after 1945. Secretive and anonymous, the handful of existing large independent commodity traders have been characterised as the hidden companies of the global economy. However, the lack of visibility to the public does not mean that they are unimportant. Far from it, by controlling the flow of hundreds of billions of dollars worth of the world's commodities these giant corporations play an absolutely pivotal role in the functioning of t he global economy. The global commodity traders buy, transport and sell the basic stuff that the world needs to function and on which modern life hinges - metals and minerals, oil and foodstuffs. Yet, despite their significance, very little is actually kn own about these companies, both how they operate today, but also how they grew to become so important. The aim of this project is to study the development of large metal and oil trading companies from 1945 and up to today. The history of global commodit y traders remains virtually unexplored by scholars. This project will thus break new ground and open up a new research agenda by assessing new sources of information. The overarching research question concerns the role of these companies in the global eco nomy and the project seeks to address three fundamental aspects of this role. First of all, how have the companies historically operated? Secondly, what has been their impact on the development of the host economies in which they operate? And finally, wha t has been the consequence of the increasing role of large trading companies in the international economy? By answering these related research questions the proposed project will enhance our understanding of economic globalization. In addition, by studyi ng the role of commodity traders in developing countries, the project will also provide fresh insights into the debate on the Great Divergence, the question of why the West grew rich and the rest did not.