Europe's Great Depression: Coordination Failure after the First World War

@article{Wolf2010EuropesGD,
  title={Europe's Great Depression: Coordination Failure after the First World War},
  author={Nikolaus Wolf},
  journal={European Economics: Macroeconomics \& Monetary Economics eJournal},
  year={2010}
}
  • Nikolaus Wolf
  • Published 1 August 2010
  • Economics
  • European Economics: Macroeconomics & Monetary Economics eJournal
In this paper I survey and reinterpret the extensive literature on Europe's Great Depression. I argue that Europe could not exploit her vast economic potential after 1918, because the war had not yet come to an end - indeed it did not end before 1945. Both, domestic and international institutions suffered from a lack of reciprocal trust and commitment, which can be clearly illustrated in the realm of monetary policy but affected many other areas of policymaking, such as energy or migration… 
Lessons from the 1930s' Great Depression
This paper provides a survey of the Great Depression comprising both a narrative account and adetailed review of the empirical evidence focusing especially on the experience of the United States. We
Good Institutions Are Not Enough: Ongoing Challenges of East German Development
  • W. Carlin
  • Economics
    SSRN Electronic Journal
  • 2010
A major theme in accounts of the transitional recession and delayed convergence in post-communist economies is the role of institutions. Yet via unification, East Germany had immediate access to
Fetters of Gold and Paper
We describe in this essay why the gold standard and the euro are extreme forms of fixed exchange rates, and how these policies had their most potent effects in the worst peaceful economic periods in
Still tied by golden fetters: the global response to the US recession of 1937–19381
The US recession of 1937–8 is one of the deepest on record. Yet it did not produce a global depression – quite unlike 1930. According to the standard view, this reflected an unfettering of central
International Policy Coordination: The Long View
This paper places current efforts at international economic policy coordination in historical perspective. It argues that successful cooperation is most likely in four sets of circumstances. First,
The global impact of the great depression
This paper provides monthly economic activity indicators for 30 countries on six continents for the period 1925–36 based on more than 1200 historical time series. Aggregating these to a global
No . 3207 Why “ Buy American ” is a Bad Idea but Politicians still Like it Abstract
When the world economy was recently hit by a severe recession, governments all over the world reacted by initiating stimulus packages. Some countries (among them, most notably, China and the US)
The first bailout : the financial reconstruction of Austria, 1922-1926
This thesis examines the League of Nations’ project for Austrian financial reconstruction 1922- 1926. By 1922, the First Austrian Republic (1918-1938) was experiencing enormous problems, including
Gambling on War
The First World War left a legacy of chaos that is still with us a century later. Why did European leaders resort to war and why did they not end it sooner? Roger L. Ransom sheds new light on this
Crises and Responses: Government Policies and the Machine-Building Cartels in Hungary, 1919–1949
What impact have government policies had on the private sector’s response to economic crises, in particular on its decisions for restructuring and adaptation? The Hungarian machine-building industry
...
...

References

SHOWING 1-10 OF 219 REFERENCES
The Stability of the Interwar Gold Exchange Standard: Did Politics Matter?
Economic historians have devoted enormous attention to the collapse of the interwar gold standard. This article proposes a discrete time duration model (using a panel data set of 24 countries for
The Economics of World War I
This unique volume offers a definitive new history of European economies at war from 1914 to 1918. It studies how European economies mobilised for war, how existing economic institutions stood up
Lessons from the Great Depression
Do events of the 1930s carry a message for the 1990s? Lessons from the Great Depression provides an integrated view of the depression, covering the experience in Britain, France, Germany, and the
AMERICAN "REPARATIONS" TO GERMANY, 1919-33: IMPLICATION FOR THE THIRD WORLD DEBT CRISI
An examination of international capital flows and their political context during the interwar era in Germany, Stephen Schuker suggests, offers useful perspectives on the international debt crisis of
MONETARY FACTORS IN THE GREAT DEPRESSION
International Policy Coordination in Historical Perspective: a View from the Interwar Years
This paper examines the international financial relations of the interwar period to see what light this experience sheds on current concerns over international policy coordination. The analysis
How Far Will International Economic Integration Go
This article speculates about the future of the world economy 100 years from now. It argues that the spread of markets is restricted by the reach of jurisdictional boundaries, and that national
Did Impending War in Europe Help Destroy the Gold Bloc in 1936? An Internal Inconsistency Hypothesis
This paper investigates the gold bloc operated between France, the Netherlands, Switzerland and Belgium, especially over the period after the USA left the gold standard in March 1933 to its end in
The Gold Standard and the Great Depression
This paper considers why political leaders and central bankers continued to adhere to the gold standard as the Great Depression intensified. We do not focus on the effects of the gold standard on the
...
...