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    Haynes, Michael and Husan, Rumy 2002. Market Failure, State Failure, Insitutions, and Historical Constraints in the East European Transition. Journal of European Area Studies, Vol. 10, Issue. 1, p. 105.

    Akçetin, Elif 2000. Anatolian Peasants in the Great Depression 1929–1933. New Perspectives on Turkey, Vol. 23, p. 79.

    Schilcher, L. Schatkowski 1991. The Great Depression (1873-1896) and the Rise of Syrian Arab Nationalism. New Perspectives on Turkey, Vol. 6, p. 167.

    Hanson, John R 1986. Export shares in the European periphery and the Third World before World War I: Questionable data, facile analogies. Explorations in Economic History, Vol. 23, Issue. 1, p. 85.

    Pamuk, Şevket 1986. The decline and resistance of ottoman cotton textiles 1820–1913. Explorations in Economic History, Vol. 23, Issue. 2, p. 205.


The Ottoman Empire in the “Great Depression” of 1873–1896

  • Şevket Pamuk (a1)
  • DOI:
  • Published online: 01 March 2009

Contrary to the view that the periphery of the world economy benefited from rapidly expanding trade, the Ottoman economy actually faced a distinctly unfavorable world conjuncture during the last quarter of the nineteenth century. Rates of growth of foreign trade dropped, external terms of trade deteriorated, declining wheat prices affected peasant producers, and the establishment of European control over Ottoman finances led to large debt payments abroad.Indirect data indicate that rates of change of agricultural and aggregate production were also lower during the “Great Depression” as compared to the later period.

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S. B. Saul , The Myth of the Great Depression, 1873–1896 (London, 1969);

Donald N. McCloskey , “Did Victorian Britain Fail?Economic History Review, 23 (12. 1970), 446–59;

W. W. Rostow , The World Economy: History and Prospect (Austin, 1978);

Brian R. Mitchell , European Historical Statistics. 1750–1970 (New York, 1975);

Morton Rothstein , “America in the International Rivalry for the British Wheat Market, 1860–1914,” The Mississippi Valley Historical Review, 47 (1960), 401–8;

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The Journal of Economic History
  • ISSN: 0022-0507
  • EISSN: 1471-6372
  • URL: /core/journals/journal-of-economic-history
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