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From Stagnation to Growth

  • Gareth P. Dyas
  • Heinz T. Thanheiser

Abstract

The period covered by this research saw considerable change in the French economic environment. At the root of much of this lay one single factor — economic growth. Between 1950 and 1970, the French economy grew at a compound rate of 5.1 per cent in real terms. GNP thus almost tripled over these twenty years, bringing with it a major change in the Frenchman’s way of life. Compounding this effect was the fact that growth itself had been an unknown phenomenon for many years. It was not until 1951 that France reached the level of economic output that it had reached in 1929. Just four years earlier, in 1947, GNP stood at the same level as it had in 1914. The immediate post-war French economy can, therefore, be described fairly as a ‘catch-up’ economy; trying to catch up first with its own previous performance and later with that of the American economy, and even the British economy which, still in the mid-fifties far outranked that of France.

Keywords

Advertising Expenditure Consumer Durable Consumer Expenditure British Economy Unknown Phenomenon 
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Notes

  1. 2.
    Rondo Cameron, France and the Economic Development of Europe 1800–1914 (Chicago: Rand-McNally & Co., 1966) p. 306.Google Scholar
  2. 3.
    John Ardagh, The New French Revolution (London: Seeker & Warburg, 1968).Google Scholar

Copyright information

© Gareth P. Dyas and Heinz T. Thanheiser 1976

Authors and Affiliations

  • Gareth P. Dyas
    • 1
  • Heinz T. Thanheiser
    • 1
  1. 1.The European Institute of Business AdministrationINSEADUK

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