The Spread of Modern Industry to the Periphery since 1871, Chapter 5
Industrial growth in Southeast Europe took off only after the Second World War, even though modern manufacturing had started at the very end of the nineteenth century. This chapter shows that before 1945 the Balkans had already undergone fundamental modernization, making rapid industrialization possible after the Second World War. Furthermore, the industrial take-off during 1950–75 occurred under very different economic systems. By the mid-1970s, all Southeast European countries seemed to be on the way to becoming mature, diversified industrial economies. However, quite the opposite occurred. Modern manufacturing across Southeast Europe plunged into crisis, which became full de-industrialization during the 1990s. Finally, the chapter offers an explanation for why all industrialization efforts in the region ultimately failed, based on the interaction between endogenous factors, such as wrong strategic decisions taken by domestic elites, and exogenous factors, such as adverse global developments.
Economic History ; Modern History (1700 To 1945) ; Manufacturing ; Southeast Europe ; Economic Systems ; Economic Policy ; De-Industrialization ; Economic History
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