What were the factors that made high-speed growth in western Europe in the 1950s possible?

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ANSWER:-

The factors that made high-speed growth in western Europe in the 1950s possible:

The Golden Age was a period of macroeconomic security, prominent for the overall nonappearance of financial emergencies that went with the injuries of two universal wars and the incredible sadness. Many considered this to be a scene of fast development concentrated on an inversion of the pattern line pre-1914 however econometric investigation shows it was clearly more than that.
All things considered, nations with generally wide after war reconstruction opportunities openings, for example, West Germany.
During the Golden Age, TFP development was exceptionally quick particularly in countries with low beginning efficiency rates. It was fundamentally founded on decreases in wastefulness, particularly dependent on the foundational change related with the move from farming to work. Simultaneously, innovation technology move has speeded up as American technology has become more financially effective under European conditions and technology move boundaries have been diminished.
In these years, European financial development has been supported in terms of professional career progression, which has expanded the degree of long haul benefits. The purpose of takeoff was the European Payments Union, which started from the Marshall Plan's restriction; a gravity model investigation shows that the EPU had a significant positive effect on exchange rates.
The ensuing making of the European Economic Union and the European Free Trade Region significantly expanded exchange.

Rahul Sunny answered 7 months ago

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