Conjoncture et industrialisation en Grèce (1900-1940)
Abstracts
The industrialization process in Greece over the period 1900-1940 could be divided in four sub-periods. The dominant feature of the first one (1900-12) was the restrictive financial policy imposed by the International Economic Control, a policy that led the Greek industry to stagnation. The second period (1912-22) was marked by a series of wars (Balkan wars of 1912-13, World War I, Near East Campaign), which provoked an intense demand for consumption goods due to the needs of the army. This demand, combined with a high inflation rate, determined the industrial development in this period. Thus, the established industrial units worked with low productivity levels and coexisted with a multitude of small artisan individual or family workshops, with minimal technical means and high elasticity in operational costs. The third period (1923-27) was one of economic expansion, closely related with the economic integration of the refugees from Asia Minor. This integration was realized in a context of high inflation, devaluation of the drachma and a protectionist policy. Thus, the professional integration of the refugees in Greek towns contributed to the reproduction of the productive schemes and the employment structure existing before the Asia Minor disaster. Finally, the fourth period (1927-33) was characterized by efforts to stabilize the Greek economy by stabilizing the national currency and restricting the circulation of cash. This policy, aimed at slowing down inflation, led Greece to economic recession.
References
Electronic reference
Michalis Riginos, “Conjoncture et industrialisation en Grèce (1900-1940)”, Cahiers d'histoire [Online], 46-1 | 2001, Online since , connection on 29 March 2024. URL: http://journals.openedition.org/ch/94; DOI: https://doi.org/10.4000/ch.94
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