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How Similar to South-Eastern Europe were the Islands of Cyprus and Malta in terms of Agricultural Output and Credit? Evidence during the Interwar Period

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  • Alexander Apostolides

    (London School of Economics and Political Science)

Abstract

The islands of Cyprus and Malta have been considered as similar economically to other South-Eastern European states, despite the lack of historical evidence to prove it. The paper uses recently complied primary sector output estimates for the interwar period (1921 – 1938) to evaluate that the economic structure of the islands was different from each other, as well as from other South-Eastern European states. The agricultural sector of the islands failed to keep up with the other states due to growth constraints. Due to the lack of a healthy system, rural credit was particularly problematic as it prevented a shift to products for which the islands held a comparative advantage.

Suggested Citation

  • Alexander Apostolides, 2008. "How Similar to South-Eastern Europe were the Islands of Cyprus and Malta in terms of Agricultural Output and Credit? Evidence during the Interwar Period," Working Papers 80, Bank of Greece.
    • Handle: RePEc:bog:wpaper:80
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    Cited by:

    1. Spruk, Rok, 2012. "After 20 Years of Status Quo: The Failure of Gradualism in Slovenia’s Post-Socialist Transition," MPRA Paper 36304, University Library of Munich, Germany.
    2. Roumen Avramov & Dragana Gnjatovic, 2008. "Stabilization Policies in Bulgaria and Yugoslavia During Communism's Terminal Years : 1980s Economic Visions in Retrospect," Working Papers 81, Bank of Greece.
    3. Sophia Lazaretou, 2008. "Banking and Central Banking in Pre-WWII Grecce: Money and Currency Developments," Working Papers 86, Bank of Greece.
    4. Dimitrios Sideris, 2011. "Optimum currency areas, structural changes and the endogeneity of the OCA criteria: evidence from six new EU member states," Applied Financial Economics, Taylor & Francis Journals, vol. 21(4), pages 195-206.
    5. Spruk, Rok, 2012. "After 20 years of status quo: the failure of gradualism in Slovenia’s post-socialist transition," MPRA Paper 36268, University Library of Munich, Germany.
    6. Yuksel Gormez, 2008. "Banking in Turkey: History and Evolution," Working Papers 83, Bank of Greece.
    7. Alexander, Apostolides, 2009. "Economic growth or stagnation during the interwar Period: reconstruction of Cypriot GDP 1921-1938," MPRA Paper 17051, University Library of Munich, Germany.
    8. Milan Sojic & Ljiljana Djurdjevic, 2008. "Monetary Policy Objectives and Istruments used by the Privileged National Bank of the Kingdom of Serbia (1884 - 1914)," Working Papers 87, Bank of Greece.

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    More about this item

    Keywords

    Cyprus; Malta; Depression; Rural credit; Historical national accounts; Southeastern Europe.;
    All these keywords.

    JEL classification:

    • N14 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Europe: 1913-
    • N34 - Economic History - - Labor and Consumers, Demography, Education, Health, Welfare, Income, Wealth, Religion, and Philanthropy - - - Europe: 1913-
    • N54 - Economic History - - Agriculture, Natural Resources, Environment and Extractive Industries - - - Europe: 1913-
    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
    • E01 - Macroeconomics and Monetary Economics - - General - - - Measurement and Data on National Income and Product Accounts and Wealth; Environmental Accounts
    • E23 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Production

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