The New Palgrave Dictionary of Economics

Living Edition
| Editors: Palgrave Macmillan

Marshall Plan

  • Francisco Alvarez-Cuadrado
Living reference work entry
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DOI: https://doi.org/10.1057/978-1-349-95121-5_2964-1
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Abstract

The Marshall Plan transferred over US$12.5 billion to Western European countries between 1948 and 1951. This article contrasts the main views on its impact on the post-war European performance. It concludes that, although the direct impact of the plan through private and public investment was rather limited, Marshall Aid provided the recipient economies with a temporary solution for the severe dollar constraint that posed a threat to the continuation of the European miracle. Furthermore the Plan played an important role in promoting collaboration among former adversaries.

Keywords

Aid Marshall Plan OEEC Post-war economics 

JEL Classifications

N14 F35 
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Notes

Acknowledgements

I would like to thank Markus Poschke for helpful comments and suggestions. Of course all remaining errors are mine.

Bibliography

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Copyright information

© The Author(s) 2009

Authors and Affiliations

  • Francisco Alvarez-Cuadrado
    • 1
  1. 1.