The industrial positions of Europe on the eve of the Second World War

This article provides estimates of the level of industrialisation in the world around 1937. The results reveal that the industrial position of Europe on the eve of the Second World War depends on the indicator chosen. If we refer to the total manufacturing production, Europe as a whole represents the first industrial power in the world. However, the levels of industrialisation show that Europe lagged largely behind the United States. This contribution emphasizes also that the European continent was not a homogenous economic entity around 1937. There is indeed an important gap between an "industrial" and an "agricultural" Europe. The gap between the two Europe was in fact much more important than the one between the Old Continent and the United States. Finally, this article replaces these 1937 estimations in the long run by focusing on the evolution of the European industry after the Second World War. Classification JEL : N60, N64.