After the end of World War I, Romania applied the use of agricultural farms and passed a new constitution which in turn created a democratic framework and allowed for rapid economic/industrial growth. Industrial growth in Romania, doubled between 1928-1938, despite the effects of rapid economic halts such as The Great Depression. Romania ranked 2nd in Europe and 7th in the world with its economic growth thanks to its 7.2 million tonne(s) of oil production in 1937. The oil extracted from Romania proved to be useful for the Axis forces especially Germany, whom gained control over Rome for a period of time during their settlement in Italy in the second World War.
In 1918-1921, massive land reforms were made to reinforce peasant agriculture. This was done by transferring 15 million acres (6 million hectares) from large landowners to small shareholders. Despite these improvements, the technology and tools were still very primitive and underdeveloped, making Rome inefficient in organising and problems such as overpopulation and excess debt started to see a rise.
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| Source: http://www.britannica.com/EBchecked/topic/508461/Romania/42876/Shifts-in-society-and-economy |
Bibliography: Cucu, Vasile S. "Shifts in Society and Economy." Encyclopedia Britannica Online. Encyclopedia Britannica, 16 Feb. 2015. Web. 03 June 2015. <http://www.britannica.com/EBchecked/topic/508461/Romania/42876/Shifts-in-society-and-economy>.
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