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VIII. The Depression, 1930–1935: Its Effects on India and Indonesia*

Published online by Cambridge University Press:  22 April 2010

O. Goswami
Affiliation:
Jawaharlal Nehru University, New Delhi

Extract

This essay attempts to analyse the differential effects of the Great Depression on two very dissimilar economies bound only by the commonality of colonial overlordship. Though the motivation was noble enough, the quality and quantity of research that went into making this article has been well below par. For the Indonesian section, I was particularly hamstrung by my total ignorance of the Dutch language and also of the subtle intersectoral nuances of the economy. What I say about the archipelago is, therefore, much in the nature of broad, indicative statements culled from the data and interpretations available in English. Even these I say with all manners of qualification. This exercise in comparative economic history was thrust upon me in order to broaden my knowledge of other things in the universe. Perhaps, at the end of it all, I have become a trifle more knowledgeable. Nevertheless, writing this essay constantly reminded me of Daniel as he faced the lions: he was doing an extremely foolhardy thing under severe duress and with prayers on his lips.

Type
Articles
Copyright
Copyright © Research Institute for History, Leiden University 1986

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References

Notes

1 Maddison, A., ‘Growth, Crisis and Interdependence 1929-38 and 1973-83’ (unpublished mimeo, 1984) 1Google Scholar.

2 Ibidem, 3.

3 Ibidem, Table 2.

4 Ibidem, Table 2. This is for 6 Latin American and 5 Asian countries.

5 Ibidem, Table 2.

6 Banerji, A K., India's Balance of Payments (Bombay 1963)Google ScholarSivasubramonian, S., ‘The National Income oflndia 1900-01 to 1946-47’ (mimeo, Delhi School of Economics, 1965) Tabe 16.1Google Scholar.

8 Bagchi, A K., PrivateInvestment mIndia, 1900-1939 (Cambridge 1972)237247CrossRefGoogle Scholar.

9 Ibidem, 371.

10 Ray, R.K., Industrialization in India 1914-47 (Delhi 1979) 138Google Scholar.

11 SeeTomlinson, B R., “Private Foreign Invest in India', Modem Asian Studies (1978)Google Scholar.

12 Maddison, , 'Growth, Crisis and Interdependence”, 30, quoting Banerji, India's Balance of PaymentsGoogle Scholar.

13 Sivasubramonian, , “The National Income of lndia”, Table 6 2, 338Google Scholar.

14 Ibidem, 189.

15 Ibidem, 196.

16 Ray, Industrialization in India, 76.

17 Sivasubramonian, , “The National Income of India”, 100101Google Scholar.

18 Mukerji, K., “Trends in Real Wages in the Cotton Textile Industry”, Artha Vijana (1959)Google ScholarMukerji, K., “Trends in Real Wages in the Jute Textile Industry”, Artha Vijana (1960).Google Scholar

19 Computed from Sivasubramonian, , “The National Income of India”, Tables 6 1 and 6 2Google Scholar.

20 Goswami, O., “Agriculture in Slump, 1930-1938”, Indian Economic and Social History Review (1984)345Google Scholar.

21 Ibidem, 347.

22 Ibidem.

23 Ibidem, 351-358.

24 Polak, J J., The National Income ofthe Netherlands Indies(New York 1943)52Google Scholar.

25 Ibidem, 20 and 5 la.

26 Ibidem, 53.

27 Maddison, , “Growth, Crisis and Interdependence”, 36Google Scholar.

28 Polak, , The National Income of the Netherlands Indies, 54Google Scholar.

29 Ibidem, 53.

31 Ibidem, 12and51a.

32 Ibidem, 20 and 51a

33 Ibidem, 5 1a and Table 7 3.

34 Maddison, , “Growth, Crisis and Interdependence”, 36Google Scholar.

35 Polak, The National Income of the Netherlands Indies, 52a.

36 Ibidem, 26-3 land 5 la.

37 Ibidem, 54.

38 Quoted in Laanen, J T M. van, “The World Depression and the Indigenous Economy of the Netherlands Indies”(mimeo, 1979) 1920Google Scholar.

39 Maddison, , “Growth, Crisis and Interdependence”, 34Google Scholar.

40 Polak, , The National Income of the Netherlands Indies, 53Google Scholar.