The occupation of the Ruhrland in 1923 and its economic significance for Germany and Great Britain.



JEL classification

  • Price Level; Inflation; Deflation
  • International Conflicts; Negotiations; Sanctions
  • Economic History: Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations: Europe: 1913-


Economic relations, Germany, Ruhr crisis, 1923


This study deals with the occupation of the German Ruhr area both in the context of recent developments in reparations negotiations and in term sof the economic repercussions in two selected countries – Germany and Great Britain. The Ruhr crisis had serious impacts on the German economy – a collapse of the German currency, an an increase in state indebtedness, which was subsequently alleviated by hyperinflation, a significant economic downturn and a loss of foreign markets. In contrast, Great Britain capitalized on the conflict by both improveming its economic output and increasing exports in its traditional industries.