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A century of monetary reform in South-East Europe: from political autonomy to the gold standard, 1815–1910

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  • Morys, Matthias

Abstract

This article documents and analyses monetary reform in Bulgaria, Greece, Serbia and Romania from 1815 (Serbian autonomy within the Ottoman Empire) to 1910, when Greece became the last country in the region to join the gold standard. It explains the five key steps towards monetary reform which the four countries took in the same chronological order, and asks why national coinage and the foundation of a bank of note issue came late in the reform process. The South-East European countries tried to emulate West European prototypes, yet economic backwardness meant such institutions were often different from the outset, remained short-lived or both.

Suggested Citation

  • Morys, Matthias, 2017. "A century of monetary reform in South-East Europe: from political autonomy to the gold standard, 1815–1910," Financial History Review, Cambridge University Press, vol. 24(1), pages 3-21, April.
    • Handle: RePEc:cup:fihrev:v:24:y:2017:i:01:p:3-21_00
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    Cited by:

    1. Bazot, Guillaume & Monnet, Eric & Morys, Matthias, 2019. "Taming the gobal financial cycle: Central banks and the sterilization of capital flows in the first era of globalization," IBF Paper Series 03-19, IBF – Institut für Bank- und Finanzgeschichte / Institute for Banking and Financial History, Frankfurt am Main.
    2. Monnet, Eric & bazot, guillaume & Morys, Matthias, 2019. "Taming the Global Financial Cycle: Central Banks and the Sterilization of Capital Flows in the First Era of Globalization (1891," CEPR Discussion Papers 13895, C.E.P.R. Discussion Papers.

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