Greek economic miracle

This article is about the period 1950 to 1973. For the subsequent period, see Economy of Greece.

The Greek economic miracle (Greek: Ελληνικό οικονομικό θαύμα) describes a period of rapid and sustained economic growth in Greece from 1950 to 1973.[1] At its height, the Greek economy grew by an average of 7.7 percent, second in the world only to Japan.[2][3][4][5][6][7]

  1. ^ Graham T. Allison; Kalypso Nicolaïdis (January 1997). The Greek Paradox: Promise Vs. Performance. MIT Press. p. 43. ISBN 978-0-262-51092-9. phase of 1960 to 1973 (the period hailed by many as the "Greek economic miracle"), gross domestic product grew at an average annual rate of 7.7 percent[when?], but exports of goods and services grew at the much higher average rate of 12.6
  2. ^ Angus Maddison, "Monitoring the World Economy 1820-1992" Archived 2 September 2018 at the Wayback Machine, OECD (1995)
  3. ^ HAMISH MCRAE (27 June 2015). "Greece crisis: It needs another economic miracle – and it could happen". The Independent. Indeed, between 1950 and the oil crisis of 1973 it was Europe's fasting growing economy, with growth rates of 7 per cent a year. This period was dubbed the Greek economic miracle.
  4. ^ Lila Leontidou (26 April 1990). The Mediterranean City in Transition: Social Change and Urban Development. Cambridge University Press. p. 125. ISBN 978-0-521-34467-8. In fact, the Greek economic miracle of industrialization was partly due to the suppression of the working class.
  5. ^ Elena Calandri; Antonio Varsori; Daniele Caviglia (26 November 2014). Détente in Cold War Europe: Politics and Diplomacy in the Mediterranean and the Middle East. I.B.Tauris. p. 17. ISBN 978-1-78076-108-4. During 1950–1973, il boom in Italy, les Trente Glorieuses in France and the Greek 'Economic Miracle' were to transform the economies and societies of these countries.
  6. ^ OECD (15 September 2008). The Marshall Plan Lessons Learned for the 21st Century: Lessons Learned for the 21st Century. OECD Publishing. p. 120. ISBN 978-92-64-04425-8. The Marshall Plan began as an emergency program, but its sustained contributions to agriculture and finance succeeded in laying the foundation for the Greek economic miracle of the 1950s.
  7. ^ Greek-American Review. Vol. 51–52. Hellenic Heritage. 1999. p. 20. He writes on the origins of the "Greek Economic Miracle" and provides the longest and one of the most important papers.