Economic Recovery

Definition

Economic recovery refers to a significant improvement or rebound in an economy following a period of decline or recession. It involves restoring economic growth, reducing unemployment rates, increasing productivity, and improving overall financial conditions within a country or region.

Related terms

Marshall Plan: An initiative proposed by U.S. Secretary of State George C. Marshall which provided economic assistance to war-torn European countries after World War II with the aim of aiding their recovery.

Bretton Woods System: A monetary system established after World War II that created rules for financial and commercial relations among major industrial nations, aiming to promote economic stability and prevent future crises.

Industrialization: The process of developing industries within a country or region, which often leads to increased production, employment opportunities, and overall economic growth.