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The National Bank of Romania and its Isuue of Banknotes between Necessity and Possibility, 1880 - 1914

  • George Virgil Stoenescu


    (National Bank of Romania)

  • Elisabeta Blejan

    (National Bank of Romania)

  • Brindusa Costache

    (National Bank of Romania)

  • Adriana Iarovici Aloman

    (National Bank of Romania)

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    The paper looks at the National Bank of Romania’s issue of banknotes from 1880 through 1914, highlighting the developments in the notes’ cover, the channels whereby the central bank put its notes into circulation, as well as the behaviour of the issuing house during episodes of crisis. The narrative evidence reveals that the Bank had successfully managed its seignorage right and maintained a stable and trustworthy domestic currency that ensured the country’s economic development in line with the other European economies of the time.

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    Paper provided by Bank of Greece in its series Working Papers with number 88.

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    Length: 38 pages
    Date of creation: Jul 2008
    Date of revision:
    Handle: RePEc:bog:wpaper:88
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