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WORKING PAPER N°
Mots clés :
Codes JEL :
1
Was the Great War a Watershed ?
The economics of World War One in France
Pierre-Cyrille Hautcoeur
Université de Paris I Panthéon-Sorbonne (Matisse)
and DELTA (joint research unit CNRS-EHESS-ENS)
This paper has been prepared for a book edited by M. Harrisson and S. Broadberry on
The Economics of World War One, forthcoming at Cambridge University Press.
Abstract
This paper presents a broad, quantitatively documented, overview of the French economy
during World War One, trying to answer the question of whether the war was a turning point
in French economic history. It first describes the various shocks the war imposed to the
economy, from invasion to labour and capital mobilisation. It then studies macroeconomic
policies, especially the finance of both the budget and the balance of payments deficits. It then
turn to government interventions in the economy, suggesting they were less important than
frequently asserted, and......

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Approximate Word Count: 12564
Approximate Pages: 51 (250 words per double-spaced page)

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