The Marshall Plan: A Reality Check
AbstractThis paper surveys the literature on the Marshall Plan which was designed to help the reconstruction of Europe after World War II. A basic description of how the Marshall Plan was implemented is provided but the focal point is a consideration of the impact of American aid on European growth. It is concluded that the direct effects were positive but modest. The indirect effects working through induced policy changes may have been larger. If so, the Marshall Plan may be thought of as a successful structural adjustment program of the kind advocated by believers in the Washington Consensus.
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Bibliographic InfoPaper provided by Competitive Advantage in the Global Economy (CAGE) in its series CAGE Online Working Paper Series with number 48.
Date of creation: 2011
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Aid; Economic Growth; Marshall Plan; Structural Adjustment Program;
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