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Ulster Since 1600Politics, Economy, and Society$
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Liam Kennedy and Philip Ollerenshaw

Print publication date: 2012

Print ISBN-13: 9780199583119

Published to Oxford Scholarship Online: January 2013

DOI: 10.1093/acprof:oso/9780199583119.001.0001

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Business and Finance, 1780–1945

Business and Finance, 1780–1945

(p.177) 11 Business and Finance, 1780–1945
Ulster Since 1600

Philip Ollerenshaw

Oxford University Press

Between the later eighteenth century and the end of the Second World War, Ulster experienced not only its most rapid rates of industrialisation but also (after 1920) its most severe structural economic problems. In important respects these problems have endured to the present day. In Ulster, as in some other industrialising regions such as north-west England and west of Scotland, linen and cotton were crucial to the development of factory-based industry. Belfast emerged as a major UK centre of industry, trade and finance with some large, globally-connected enterprises and a whole host of small and medium sized firms in both manufacturing and services. The regional economic base, and the wider UK economy of which it was a constituent part, faced unprecedented challenges between the wars as unemployment and low incomes presented the new devolved government in Belfast with a range of difficulties, most of which it was impossible to overcome

Keywords:   industry, linen, cotton, Belfast Chamber of Commerce, global, unemployment, structural change, banking, finance, factory

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