The Hungarian twin crisis of 1931

Dados Bibliográficos

ID3237336
AutoresFlora Macher (London School of Economics and Political Science, autor correspondente)
Ano2019
Volume72
Fascículo2
Páginas641-668
Data de publicação2019-05-01
Peer ReviewedSim
Open AccessSim
TipoARTICLE
PeriódicoThe Economic History Review (JOURNAL)
Identificadores do periódicoISSN: 0013-0117 • E-ISSN: 1468-0289
EditoraWiley (PUBLISHER • GB)
DOI10.1111/ehr.12659
OpenAlexW2793120463
IdiomaEN
Citações recebidas10
Referências citadas16

Even though Germany, Austria, and Hungary experienced a major financial crisis simultaneously in 1931, of the three, only Germany's and Austria's episodes have been investigated in depth. This article offers a thorough assessment of the missing piece. It finds that, just like Germany, Hungary also experienced a twin crisis. The primary reason for the weakness of the financial sector was banks' excessive exposure to agricultural loans. The fragility of the currency was the result of an early balance-of-payments crisis in 1928/9. The vulnerability of the banking and monetary systems culminated in a twin crisis in 1931

Balance of payments · Business · Currency · Currency crisis · Economic policy · Economics · Financial crisis · Financial system · International economics · Macroeconomics · Monetary economics · Vulnerability (computing) · European Monetary and Fiscal Policies · Global Financial Crisis and Policies