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Lessons from the Marshall Plan

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dc.contributor.authorEichengreen, Barry
dc.date.accessioned2017-06-30T16:08:11Z
dc.date.available2017-06-30T16:08:11Z
dc.date.issued2010-04
dc.description.abstractThe Marshall Plan is invoked whenever policy makers contemplate large-scale foreign aid. A cursory Google search turns up 'A Marshall Plan for Africa,' 'A Marshall Plan for Haiti," 'A Marshall Plan for Eastern Europe,' and 'A Marshall Plan for the East.' The foreign aid program officially known as the European Recovery Program (ERP), but forever associated with the name of Secretary of State George C. Marshall, is widely regarded as a singular success. Over the four years from 1948 through 1951, the United States transferred $13 billion (roughly $115 billion at current prices) to the war-torn nations of Europe. The transfer represented approximately two per cent of U.S. Gross Domestic Product (GDP) and roughly the same share of the collective GDP of the recipient countries. The recipients, seemingly on the brink of economic collapse, mounted a strong recovery. Industrial production in the recipient European countries leapt from just 87 per cent of pre-Second World War levels in 1947 to fully 135 per cent in 1951, a 55 per cent jump in just four years. At least as importantly, the resumption of growth was sustained. Europe embarked on a 'golden age' of economic growth that spanned a period of decades. No wonder, then, that the Marshall Plan is widely regarded as the most striking historical example of a successful large-scale foreign aid program. And no wonder that there have been repeated attempts to identify the key ingredients of its success in the hope that this might be replicated in other times and places.en
dc.identifierhttp://documents.worldbank.org/curated/en/907961468155715855/Lessons-from-the-Marshall-Plan
dc.identifier.doi10.1596/27506
dc.identifier.urihttps://hdl.handle.net/10986/27506
dc.languageEnglish
dc.language.isoen_US
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesWorld Development Report 2011 Background Papers;
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectCAPITAL STOCK
dc.subjectCOLLECTIVE
dc.subjectCONDITIONALITY
dc.subjectCRITICAL INFRASTRUCTURE
dc.subjectDECENTRALIZATION
dc.subjectDEPENDENCE
dc.subjectDISBURSEMENT
dc.subjectDISTRIBUTION OF INCOME
dc.subjectECONOMIC COOPERATION
dc.subjectECONOMIC EFFECTS
dc.subjectECONOMIC LIBERALIZATION
dc.subjectEMBASSIES
dc.subjectEQUIPMENT
dc.subjectEXCHANGE CONTROLS
dc.subjectEXCHANGE RATES
dc.subjectFINANCIAL INTEGRATION
dc.subjectFLAG
dc.subjectFLAGS
dc.subjectFLOW OF INFORMATION
dc.subjectFOREIGN AID
dc.subjectGOVERNMENT CONTROL
dc.subjectHOLDING
dc.subjectHOLDING COMPANIES
dc.subjectINFLATIONARY PRESSURE
dc.subjectINSTITUTIONAL CAPACITY
dc.subjectINTERNATIONAL ECONOMY
dc.subjectLIMITED
dc.subjectMARKET ECONOMY
dc.subjectMARKET POWER
dc.subjectMONOPOLIES
dc.subjectNATIONS
dc.subjectOUTPUT
dc.subjectPOLITICAL ECONOMY
dc.subjectPOLITICAL PARTIES
dc.subjectPRICE CONTROLS
dc.subjectPROPERTY RIGHTS
dc.subjectPUBLIC-PRIVATE PARTNERSHIPS
dc.subjectRECIPIENT COUNTRIES
dc.subjectRECONSTRUCTION
dc.subjectREGIONAL COOPERATION
dc.subjectREGIONAL INTEGRATION
dc.subjectREPUTATION
dc.subjectRETURN
dc.subjectROAD
dc.subjectROADS
dc.subjectRULE OF LAW
dc.subjectSAVINGS
dc.subjectTAX
dc.subjectTREATIES
dc.subjectTREATY
dc.subjectUNION
dc.subjectVIOLENCE
dc.subjectWAR
dc.subjectWORLD DEVELOPMENT
dc.titleLessons from the Marshall Planen
dc.typeWorking Paperen
dc.typeDocument de travailfr
dc.typeDocumento de trabajoes
dspace.entity.typePublication
okr.crossref.titleLessons from the Marshall Plan
okr.date.disclosure2011-06-03
okr.date.doiregistration2025-05-05T12:00:17.784995Z
okr.doctypePublications & Research::Working Paper
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/907961468155715855/Lessons-from-the-Marshall-Plan
okr.guid907961468155715855
okr.identifier.externaldocumentum000333037_20110603015430
okr.identifier.internaldocumentum14288195
okr.identifier.report62042
okr.importedtrue
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/907961468155715855/pdf/620420WP0Lesso0BOX0361475B00PUBLIC0.pdfen
okr.topicConflict and Development::Post Conflict Reconstruction
okr.topicFinance and Financial Sector Development::Debt Markets
okr.topicLaw and Development::Corporate Law
okr.topicMacroeconomics and Economic Growth::Markets and Market Access
okr.topicPrivate Sector Development::Emerging Markets
okr.unitPoverty Reduct & Econ. Mgmt Dept (MNSPR)
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