IDEAS home Printed from
MyIDEAS: Log in (now much improved!) to save this paper

Storia della banca in Romania - Parte Prima -

Listed author(s):
  • Aranldo Mauri


  • Claudia Gabriela Baicu


Romania has been selected among the 10 Central and Eastern European candidates for EU membership, ranking second as importance after Poland, and is expected to join the Community in 2007. Romanian financial institutions have to face today adaptations and opportunities and banking business in the country seems fairly attractive to foreign banks. The paper highlights the rise and the development of banking in Romania and covers the period going from the peace of Adrianople (1829) up to the end of World War II. At the time of "iron wall" all Eastern Europe fell under Soviet control. Therefore also in this country was enforced by the ruling power the "socialist banking" by means of nationalization and concentration of banking industry. Prior to that event Romanian banking industry had achieved a satisfactory level of development and adequate operational standards. The financially powerful and industrial advanced countries of western and central Europe (i. e. Britain, France and Germany) had supported the development of Romanian banking, a process started in XIX century and continued in the first part of XX century with a few years interruption during World War I. In the period between the achievement of national unity (Romania Mare) in 1920 (Treaty of Trianon) and the great world depression this country played a remarkable role in international political relations and enjoyed an age of social and economic progress that reminded the "Dacia Felix" of the Romans. Inflow of foreign capital and financial know-how gave a substantial contribution to growth, deepening and diversification of banking industry and financial sector in Romania. The position of relevant supplier of raw materials in Europe allowed Romania, on the one hand, to gain a quick economic recovery in the years before the outbreack of World War II, but, on the other hand, gave rise to foreign appetites and domestic political instability. Weakness of Franco-British guarantee of Romanian territorial integrity after surrender of France (June 1940) was the cause, firstly, of the loss of territories (Eastern provinces of Bessarabia and northern Bucovina occupied by Red Army; northern Transylvania and southern Dobruja ceded, respectively, to Hungary and Bulgaria) and, secondly, of the fall of the country under the German control. Participation to the invasion of USSR as Germany's ally in 1941 involved the Romanian banking system in financing war expenditure. Eventually, military defeat followed by capitulation brought up the political and economic collapse of the country under Soviet rule.

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL:
Download Restriction: no

Paper provided by Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano in its series Departmental Working Papers with number 2002-18.

in new window

Date of creation: 01 Jan 2002
Handle: RePEc:mil:wpdepa:2002-18
Contact details of provider: Postal:
Via Conservatorio 7, I-20122 Milan - Italy

Phone: +39 02 50321522
Fax: +39 02 50321505
Web page:

More information through EDIRC

No references listed on IDEAS
You can help add them by filling out this form.

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:mil:wpdepa:2002-18. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (DEMM Working Papers)

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.