I first came across this report back in 2017 and saved its URL address. I'm sure the brain trust behind FDR believed that adopting the same Keynesian policies of Sweden would quickly pull the U.S. out of its economic depression. However, it didn't turn out that way, and it took the massive investments brought on by America's entry into World War II to stem the decline...
-NW

Recovery in Sweden, France and Italy, to 1936
http://www.fsmitha.com/h2/ch15wd3.htm

[snip]

Keynesian Economics in Sweden
In 1931 in Sweden, wages had been falling and unemployment had been rising. Communist agitation had also been rising, and that year labor unrest and the use of strikebreakers resulted in bloodshed. Sweden's moderately conservative government was pursuing a policy of maintaining the nation's money supply. Industrial production was down that year no more than 10 percent from its peak in 1929, and its unemployment rose no higher than 12 percent. The economic downturn, however, resulted in a loss of power for the incumbent conservatives. In September 1932, Social Democrats were elected to power.

With winter, the economic crisis deepened, including a rise in unemployment. The Social Democrats entered an alliance with Sweden's Farmer's Party. Then Sweden's economy hit bottom – a few months later than the mid-1932 bottoming of the US economy.

But Sweden would recover faster. A reduction in taxes gave the average wage earner more money to spend, and a raised minimum wage increased the ability of low-income people to spend money. The government increased investments in public works. Federal money was pumped into unemployment insurance, medical care and old age pensions. The government willingly created a deficit, believing that it was emergency spending that would be paid back after the recovery. And with recovery being rapid and revenues increasing as a result of the rising economy, revenues increased and the deficit was quickly overcome...

...Sweden's industrialists were disgruntled over higher taxes on their personal incomes, but they did not feel threatened to the extent that they withdrew from participating in the economy or the recovery. Manufacturing was to remain over 90 percent in the hands of capitalists, and business profits were left untaxed in order to stimulate rapid reinvestment. By 1936, industrial production in Sweden was 50 percent above what it had been in 1929 and unemployment had returned to 5 percent.

Recovery in France
The depression reached France later than it did some other nations, France remaining prosperous through 1931. Then, in 1932 the economy was hurt by a drop in tourists, a fall in exports of perfumes, wine, food and other items, and there was the decline in prices for what exports it could sell abroad. In 1932 unemployment was at 15 percent and industrial production off 25 percent from its 1929 level

A new French government was elected in 1932, led by André Tardieu, whose campaign issue was the threat of Communism. His government was a coalition of conservatives and rightists defending against demands from the left for spending on the unemployed and other benefits for the poor. Tardieu's government was determined to maintain low taxation, a balanced budget and no inflation.

It sought economic recovery in the expansion of France's trade with its colonies and in public belt-tightening – austerity. France refused to join Britain, the US and Germany in going off of the gold standard. This kept its currency overvalued, hurting French exports. Some people in France expected that their currency would eventually be devalued, and they hurt France's economy by converting their money and sending it abroad.

France's economy joined other economies in hitting bottom in the latter half of 1932. And, following this, France's economy remained stagnant. In 1935 unemployment and industrial production were still at 1932 levels.

The Depression and Mussolini's Italy
Mussolini's highly praised corporate-fascist economy suffered like other economies during the Great Depression. Mussolini was erratic in making policy, his twists and turns the result of an unwillingness to surround himself with sound-thinking, independent-minded advisors.

The public saw Mussolini's contradictory moves as genius, while the economy did benefit from government involvement in industry, cooperative industrialists, a docile labor force, and increased welfare benefits. Italy's economy emerged from its economic slump in 1934, but Italy's share in world manufacturing was down then to around 2.8 percent – the lowest of Europe's big players in international affairs.