by Benn Steil
14.4
-0.7
105.8
3.8
1948
4.2
7.5
0.0
93.8
0.8
1949
-0.5
-1.2
0.1
94.6
0.3
1950
8.7
1.2
0.0
87.6
-0.7
1951
8.1
7.6
0.1
75.2
0.1
1952
4.1
2.2
-0.1
72.3
0.0
1953
4.7
1.1
-0.1
70.1
-0.5
1954
-0.6
0.5
-0.1
71.3
-0.1
1955
7.1
-0.5
0.0
66.2
-0.1
1Gross national product.
2Gross domestic product to 1953, then gross national product.
3Gross domestic product.
4Gross domestic product.
5Fiscal year end March 31.
6Gross national product to 1950, then gross domestic product.
7Fiscal year end June 30.
8Gross national product to 1951, then gross domestic product.
9Gross national product to 1949, then gross domestic product.
10The data are reported for calendar years up to 1948. The value for 1949 captures a 14-month period from January 1949 to February 1950. From this point onward, each value refers to the 12-month period from March to the following February.
Data sources: Mitchell (2007), Africa, Asia and Oceania; Mitchell (2007), Europe; Mitchell (2007), The Americas; OEEC (1957); Reinhart and Rogoff (2010); United Nations, Statistical Yearbook, various years.
TABLE 2 MARSHALL PLAN PROCUREMENT AUTHORIZATIONS ($ MILLION)
1948Q2
1948Q3
1948Q4
1949Q1
1949Q2
1949Q3
1949Q4
1950Q1
Austria
38.6
76.0
97.9
18.6
42.9
54.9
38.9
37.1
Belgium/Luxembourg
21.8
117.1
55.9
66.2
105.5
79.3
26.5
Denmark
9.8
33.4
47.9
11.9
23.0
26.9
16.1
20.1
France
206.1
267.4
477.5
133.8
228.4
192.4
191.8
141.4
Western Germany
64.2
196.1
139.9
77.8
127.8
91.2
104.8
38.5
of which:
Bizone
53.1
165.8
118.0
47.6
105.0
77.9
French Zone
11.1
30.3
21.9
30.2
22.8
13.3
Greece
32.0
59.3
54.4
29.2
16.8
44.4
36.9
28.2
Iceland
2.3
3.1
0.4
2.5
1.1
1.8
-0.2
Ireland
51.6
36.2
-2.2
11.6
14.3
6.1
Italy
106.6
151.3
236.3
87.9
85.2
111.4
104.7
91.1
Netherlands
43.0
129.8
198.9
99.7
95.0
77.4
69.6
95.3
Norway
5.8
32.6
29.6
14.4
18.1
28.1
29.1
14.8
Portugal
13.1
Sweden
10.0
29.3
5.9
15.4
13.9
9.8
Trieste
4.0
2.3
3.2
2.8
4.5
3.1
3.3
0.8
Turkey
1.7
26.8
5.3
20.3
11.9
16.5
UK
226.1
221.8
645.5
222.1
298.2
283.2
329.5
165.0
EPU capital fund
Total
738.5
1191.8
2114.6
846.8
1017.6
1066.9
1045.9
704.1
Cumulative total
738.5
1930.3
4044.9
4891.7
5909.3
6976.2
8022.1
8726.2
1950Q2
1950Q3
1950Q4
1951Q1
1951Q2
1951H2
1952H1
Total
Austria
37.6
7.9
28.1
35.8
46.4
72.3
43.7
676.7
Belgium/Luxembourg
17.8
16.0
9.6
14.2
16.6
-0.3
9.3
555.5
Denmark
19.7
4.3
14.3
11.9
18.1
8.8
5.2
271.4
France
171.3
33.6
89.8
77.9
233.4
49.6
211.8
2706.3
Western Germany
55.1
72.1
116.4
105.1
108.3
18.6
73.1
1389.0
of which:
Bizone
567.4
French Zone
129.6
Greece
59.2
8.3
33.5
27.7
85.2
94.9
83.9
693.9
Iceland
4.5
0.5
1.4
1.2
5.1
2.7
2.8
29.2
Ireland
13.0
9.9
2.0
3.6
0.1
0.0
0.0
146.2
Italy
83.7
13.4
93.5
48.1
100.8
-2.6
163.0
1474.4
Netherlands
64.3
23.4
&nb
sp; 28.4
25.5
28.4
20.4
79.6
1078.7
Norway
23.1
6.8
8.2
8.1
17.9
4.2
12.7
253.5
Portugal
18.4
2.7
9.7
1.9
4.7
-0.8
0.8
50.5
Sweden
12.4
1.4
9.5
8.7
2.1
-2.9
-8.5
107.1
Trieste
3.4
2.5
1.8
-0.2
1.9
-0.5
-1.0
31.9
Turkey
21.0
-0.6
1.9
12.5
35.1
23.7
45.0
221.0
UK
170.7
93.4
49.1
-8.1
129.3
39.3
310.8
3175.9
EPU capital fund
350.0
350.0
Total
775.2
295.6
847.2
373.9
833.4
327.4
1032.3
13211.2
Cumulative total
9501.4
9797.0
10644.2
11018.1
11851.5
12178.9
13211.2
Note: Switzerland received only an EPU quota.
Data sources: Quarterly reports to Congress of the Economic Cooperation Administration, June 30, 1948, to June 30, 1951 (First Report to Congress of the Economic Cooperation Administration for the Quarter Ended June 30, 1948, to Thirteenth Report to Congress of the Economic Cooperation Administration for the Quarter Ended June 30, 1951). First Report to Congress on the Mutual Security Program, 1951. Second Report to Congress on the Mutual Security Program, 1952.
TABLE 3 MARSHALL PLAN CUMULATIVE COUNTERPART FUND BALANCES ($ MILLION)
Austria
Belgium/Luxembourg
Total Deposits
Authorized releases
Withdrawals
Total Deposits
Authorized releases
Withdrawals
1948Q3
32.9
0.4
1948Q4
67.5
12.5
12.5
3
1949Q1
143.8
12.5
12.5
3
1949Q2
227.9
40
40
2.9
1949Q3
276.2
109.4
106.8
2.8
1949Q4
269.4
169
169
2.7
1950Q1
317.9
187.4
169
2.7
1950Q2
352.3
189.5
184.2
2.6
2.2
2.1
1950Q3
412.6
250.4
187.8
2.6
2.2
2.1
1950Q4
415.4
277.9
243.3
2.6
2.2
2.1
1951Q1
460
310.6
277.9
2.6
2.2
2.2
1951Q2
543.7
419.6
413.5
2.6
2.2
2.1
Denmark
France
Total Deposits
Authorized releases
Withdrawals
Total Deposits
Authorized releases
Withdrawals
1948Q3
9.2
161.894
17.999
1948Q4
28.1
367.9
297.5
297.5
1949Q1
32.8
<0.05
540.7
288.7
288.7
1949Q2
51.8
<0.05
738.1
752.9
675
1949Q3
81
<0.05
1152.5
1132.6
1132.6
1949Q4
84
<0.05
1301.9
1238.6
1238.6
1950Q1
107.3
<0.05
1476.9
1353.4
1353.4
1950Q2
125.1
0.1
1613.8
1552.2
1522.2
1950Q3
141
118.8
118.8
1751.7
1665.2
1665.2
1950Q4
151.4
118.8
118.8
1862.2
1756.7
1756.7
1951Q1
167
118.8
118.8
1964.1
1756.3
1765.3
1951Q2
187.1
118.9
118.8
2075
2277.8
2277.8
West Germany
Greece
Total Deposits
Authorized releases
Withdrawals
Total Deposits
Authorized releases
Withdrawals
1948Q3
24.415
81.011
10.049
1948Q4
64
51.5
104.3
28.5
1949Q1
128.7
0.8
0.8
88.4
111.5
63.9
1949Q2
263.3
1.2
1.2
135.9
130
102.9
1949Q3
457.3
152
152
201.6
139.6
118.2
1949Q4
465.9
337.5
172.7
250.9
145.8
129.5
1950Q1
574.4
375.6
373
288.2
219
143.4
1950Q2
707.1
561.1
473
347.7
229
198.1
1950Q3
739.7
645.5
645.5
417.9
256
242.2
1950Q4
812.6
723.2
720.6
498.5
276.1
271.4
1951Q1
886.6
806.7
805.7
552.9
288.2
284.6
1951Q2
980.5
842.5
841.5
625.4
330.4
311.5
Iceland
Indonesia
Total Deposits
Authorized releases
Withdrawals
Total Deposits
Authorized releases
Withdrawals
1948Q3
1948Q4
1949Q1
1949Q2
1949Q3
1949Q4
0.9
1950Q1
1.9
1950Q2
2.5
1950Q3
3.9
1950Q4
6.5
46.3
1951Q1
8.8
45.9
1951Q2
11.1
0.9
0.9
47.1
Ireland
Italy
Total Deposits
Authorized releases
Withdrawals
Total Deposits
Authorized releases
Withdrawals
1948Q3
56.903
1948Q4
108.9
434.8
1949Q1
163.9
434.8
1949Q2
256.5
490.4
1949Q3
369
186.4
24
1949Q4
3
389.7
190.3
56
1950Q1
3