THE MARSHALL PLAN: GEOPOLITICAL PREREQUISITES AND ECONOMIC IMPACT ON THE PARTICIPATING NATIONS
DOI:
https://doi.org/10.35774/jee2023.02.210Keywords:
The Marshall Plan, post-war recovery, Western European growth, «economic miracle», World War II.Abstract
The paper provides an analysis of the Marshall Plan and its role in the history of Europe, specifically in terms of the economic revival that followed World War II. Even after more than seven decades since its implementation, the Marshall Plan remains one of the most frequently mentioned programs of international aid. However, there have been debates between historians and economists on whether the program was as impactful as it is described in many history books. The authors look into historical and modern sources to provide a comprehensive view of the Plan’s scale and impact. The results indicate that even though the Marshall Plan was not the only reason for Europe’s economic revival, it was a necessary element in containing the spread of Communism and guiding Western European countries in their post-war economic policies.
JEL: N44.
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Received: March 29, 2023.
Reviewed: April 20, 2023.
Accepted: May 5, 2023.
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