Gospodarka Polski w okresie Wielkiego Kryzysu (1929-1935)
The Polish economy during the Great Depression (1929-1935)

Summary/Abstract: In developed countries the outbreak of the crisis occurred at the end of 1929. In the majority of these countries the full effects of the crisis became evident in 1930, with the bottom of it being reached in 1931. Subsequently, in 1933, the analyzed countries entered a depression phase. Since 1934, and particularly since 1935 the developed countries have witnessed an expansion phase, which lasted until 1937. However, in Poland, similarly to the majority of less developed countries, economic recession surfaced as early as in the mid-1928, transforming at the turn of 1928 and 1929 into the crisis. The bottom of the industrial crisis was observed in the first quarter of 1933. In the case of Poland, the end of the industrial crisis did not signifiy the conclusion of the general economic crisis since the nation’s economy was based primarily on agriculture. In the agricultural sector the bottom of the crisis was recorded as late as in 1935. Likewise, the financial crisis lingered in Poland until 1934/35. Hence, it is estimated that in Poland the crisis ended in 1935. The above-mentioned data indicates that in Poland the crisis stared earlier than in developed countries and lasted longer. It can be assumed that it erupted about one year earlier than in highly developed countries and that it ended two years later than in those countries. Hence, the length of the crisis in Poland amounted to approximately 6-7 years, while in the developed countries it lasted for about 4 years.

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