The Marshall Plan: History's Most Successful Structural Adjustment Program
The post-World War II reconstruction of Western Europe was one of the greatest economic and foreign policy successes of this century. `Folk wisdom' assigns much of the credit to the Marshall Plan, which transferred some $13 billion of US aid to Europe between 1948 and 1951. We examine the economic effects of the Marshall Plan, and find that it was too small to have significantly accelerated recovery by financing private investment, speeding the repair of infrastructure or easing commodity bottlenecks. None the less, we conclude that the conditions attached to Marshall aid contributed significantly to Western Europe's rapid growth after World War II, by pushing Europe's `mixed economies' in a direction that left them with a mixture of more `market' and fewer controls.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
|Date of creation:||May 1992|
|Contact details of provider:|| Postal: Centre for Economic Policy Research, 77 Bastwick Street, London EC1V 3PZ.|
Phone: 44 - 20 - 7183 8801
Fax: 44 - 20 - 7183 8820
|Order Information:|| Email: |
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Alessandra Casella & Barry Eichengreen, 1991.
"Halting Inflation in Italy and France After World War II,"
NBER Working Papers
3852, National Bureau of Economic Research, Inc.
- Casella, Alessandra & Eichengreen, Barry, 1991. "Halting Inflation in Italy and France After World War II," CEPR Discussion Papers 594, C.E.P.R. Discussion Papers.
- Glyn, A. & Hughes, A. & Lipietz, A. & Singh, A., 1988. "The Rise And Fall Of The Golden Age," Cambridge Working Papers in Economics 884, Faculty of Economics, University of Cambridge.
- Wojeiech Kostrzewa & Peter Nunnenkamp & Holger Schmieding, 1990. "A Marshall Plan for Middle and Eastern Europe," The World Economy, Wiley Blackwell, vol. 13(1), pages 27-49, 03.
- Kostrzewa, Wojciech Julian & Nunnenkamp, Peter & Schmieding, Holger, 1989. "A Marshall Plan for Middle and Eastern Europe?," Kiel Working Papers 403, Kiel Institute for the World Economy (IfW).
- Broadberry, S N, 1994. "Why was Unemployment in Postwar Britain So Low?," Bulletin of Economic Research, Wiley Blackwell, vol. 46(3), pages 241-261, July.
- Broadberry, Stephen N, 1991. "Why was Unemployment in Postwar Britain So Low," CEPR Discussion Papers 541, C.E.P.R. Discussion Papers.
- Holtfrerich, Carl-Ludwig, 1986. "U.S. capital exports to Germany 1919-1923 compared to 1924-1929," Explorations in Economic History, Elsevier, vol. 23(1), pages 1-32, January.
- Alesina, Alberto & Drazen, Allan, 1991. "Why Are Stabilizations Delayed?," American Economic Review, American Economic Association, vol. 81(5), pages 1170-1188, December.
- Alberto Alesina & Allan Drazen, 1989. "Why are Stabilizations Delayed?," NBER Working Papers 3053, National Bureau of Economic Research, Inc.
- Alesina, A. & Drazen, A., 1991. "Why Are Stabilizations Delayed?," Papers 6-91, Tel Aviv - the Sackler Institute of Economic Studies.
- Maier, Charles S., 1977. "The politics of productivity: foundations of American international economic policy after World War II," International Organization, Cambridge University Press, vol. 31(04), pages 607-633, September.
- Dumke, Rolf H, 1990. "Reassessing the Wirtschaftswunder: Reconstruction and Postwar Growth in West Germany in an International Context," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 52(4), pages 451-491, Special I. Full references (including those not matched with items on IDEAS)
When requesting a correction, please mention this item's handle: RePEc:cpr:ceprdp:634. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ()
If references are entirely missing, you can add them using this form.