The Hungarian twin crisis of 1931

Datos Bibliográficos

ID3237336
AutoresFlora Macher (London School of Economics and Political Science, autor de correspondencia)
Año2019
Volumen72
Número2
Páginas641-668
Fecha de publicación2019-05-01
Peer ReviewedSí
Open AccessSí
TipoARTICLE
RevistaThe Economic History Review (JOURNAL)
Identificadores de la revistaISSN: 0013-0117 • E-ISSN: 1468-0289
EditorialWiley (PUBLISHER • GB)
DOI10.1111/ehr.12659
OpenAlexW2793120463
IdiomaEN
Citas recibidas10
Referencias 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