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Greece and the Inter-War Economic Crisis$
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Mark Mazower

Print publication date: 1991

Print ISBN-13: 9780198202059

Published to Oxford Scholarship Online: October 2011

DOI: 10.1093/acprof:oso/9780198202059.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (www.oxfordscholarship.com). (c) Copyright Oxford University Press, 2019. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 17 October 2019

Recovery and the State

Recovery and the State

Chapter:
(p.236) 9 Recovery and the State
Source:
Greece and the Inter-War Economic Crisis
Author(s):

MARK MAZOWER

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780198202059.003.0009

This chapter charts the dimensions of Greece's economic recovery, its limitations, and the tensions it created. Import-substitution benefited both agriculture and industry, but had rather different effects in the two sectors. In both cases output rose as did prices — with little effective government control. In both cases the chief stimulus was the shift in relative prices after Greece left the gold standard. Although many peasants remained encumbered by debt, their economic position generally improved compared with the crisis years of 1929–32. Domestic industry benefited too, but few of the benefits reached the workers. Inflation affected neither the bulk of the peasantry, who could retreat to some form of self-sufficiency, nor industrialists, who passed on higher input prices to the consumer. But it did hit the vulnerable urban classes-workers, civil servants, and artisans.

Keywords:   Greece, economic policy, economic recovery, agricultural recovery, industrial growth

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