Abstract
In the interwar period, Turkey and Yugoslavia, despite all their differences, have approximately similar economic performance. Namely, during the 1930s, the two countries recorded very similar levels of the most important indicator of the state of an economy, which implicitly indicates the level of living standards, GDP per capita (at purchasing power parity). Yugoslavia, like Turkey, was a predominantly agrarian country with underdeveloped industry, where the main aggravating factors for more intensive economic development was, in addition to the lack of capital, the insufficiency of skilled labor, and rapid population growth. Despite the significant progress made in industry and mining, both countries have retained the characteristics of industrially underdeveloped or agrarian-extractive economies, with only about 11% of employees in industry and crafts activities. Despite the above-average GDP growth per capita of Turkey of 1.8% in the period 1913-1939, and the average one for Yugoslavia (1.1%), at the end of the observed period they remained at a very low relative level looking at GDP per capita, and consequently among the most underdeveloped countries in Europe.
Highlights
Based on comparable indicators regarding economic growth in other countries, it can be seen that Yugoslavia's gross domestic product (GDP) growth was around average, because most European countries in the interwar period achieved cumulative GDP growth of about 60%, very similar to Yugoslavia
When it comes to Turkey, it should be said that there was a recovery in all segments of the economy during 1923-1929, which was the result of demographic explosion and the recovery of underutilized resources in agriculture and industry during the war
All observed economies have a high share of agriculture in GDP and a low level of income, comparing them with the west of the Old Continent
Summary
Сажетак: У међуратном раздобљу Турска и Југославија, и поред свих различитости имају приближно сличне економске перформансе. На основу Maddison Project Database (2020) смо такође израчунали просечне стопе раста у међуратном раздобљу за светски БДП пер капита, као и за раст БДП-а по становнику за земље западне и источне Европе. Западна Европа у просеку бележи знатно спорији раст од Истока континента 1920-40 (1,9% просечно, наспрам 4,5%), док је раст светског БДП-а по становнику био још спорији у истом раздобљу (1,7%). Ниво индустријализације по становнику и поред Првог светског рата и кризних година имао је значајан раст у развијеним земљама (у просеку око 40%) у периоду од 1913. Посматрајући вредности индекса на крају раздобља, можемо видети да је кумулативни раст у посматраном периоду (1923-39), по Стајићу износио близу 48%, док је у пер капита изразу тај раст био тек 17,8% (Стајић мери друштвени производ, који је стандардна мера из социјалистичког периода, која добрим делом избацује услуге из БДП-а, али су стопе раста упоредиве). Табела 1.: Индекс раста укупног БДП-а Југославије и Турске 1913-1939. (1923=100)
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