Generally, the European economy was characterized by the following aspects:

The development of the economic activity's industrial side, not only in Western Europe but also in other countries previously considered to be exclusively agrarian. The industry and services presented the highest increases, and the gap between labor productivity in agriculture and the one in industry significantly increased

The Eastern and South-Eastern European countries' economic evolution suffered important transformations, with quantitative and qualitative restructurings

Maintaining the inequalities between European countries, given their distinct evolution

The heterogeneity of options regarding European development strategies

It is considered that the war delayed the European economy's evolution with approximately 8 years, which means that the 1929 production quantum might have been attained in 1921 if it had not been for the war and if the growth rates before 1913 would have been maintained (Kennedy, pp 361).

2.2. The Great Depression and European Economy's Post-crisis situation...
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