Sunday, 6 September 2009

New paper just out: Economic history of Cyprus 1921-1938

Just thought you might be interested in a paper i presented in the Central Bank of Cyprus. It focuses on some of the key findings of my research.
My research is on the Economic history of Cyprus.Here i estimated income of Cyprus for the period 1921-1938.
The main focal points are:
1) The Great Depression was a catastrophe for Cyprus - the lack of protective tariff barriers and the incidence of serious drought meant that the Depression wiped out 10 years of growth. The recovery was also slow and only possible due to the emergence of the mining sector
2) The depression hurt the farmers particularly hard, causing a credit crunch, breaking the traditional source of credit to the farmer: this was not restored until the re-establishment of the co-op sector on a correct basis.
3) The Great depression was the greatest catalyst for the breakdown of communication between the British colonialists and the Greek-Cypriots. They were political tensions before, but they were brought to the head by the government's inability to alleviate the effect of the depression.

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