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The re-establishment of the Ethiopia’s monetary and banking systems

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  • Arnaldo MAURI

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Abstract

The study is concerned with a crucial period of the banking history of Ethiopia, almost untouched so far by the specializing literature, in which the banking industry was affected by important changes. The paper describes and analyses the reconstruction process of the banking system and the reorganization of the monetary setting in Ethiopia started in 1941, when the Italian colonial rule came to an end and the country regained independence, during World War II. The terminal date of the study is the beginning of 1964, when a one-tier banking system, based on a state-owned financial institution, the State Bank of Ethiopia, gave way to a two-tiers banking system. The monetary banking reform in Ethiopia after liberation in 1941 was an event logical, inevitable and predictable. Different paths, however could had be followed at that moment. The choice in money matter was to establish a national monetary unit, the Ethiopian dollar, instead of keeping the country inside the East African shilling area. On the other hand, as far as concerns banking, it was opted for establishing a state-owned financial institution enjoying a monopolistic position in the credit market rather than for setting up a system of private banks, possibly expatriate.

Suggested Citation

  • Arnaldo MAURI, 2008. "The re-establishment of the Ethiopia’s monetary and banking systems," Departmental Working Papers 2008-11, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano.
  • Handle: RePEc:mil:wpdepa:2008-11
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    File URL: http://wp.demm.unimi.it/files/wp/2008/DEMM-2008_011wp.pdf
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    References listed on IDEAS

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    1. Adrian E. Tschoegl, 2001. "Maria Theresa's Thaler: A Case of International Money," Eastern Economic Journal, Eastern Economic Association, vol. 27(4), pages 443-462, Fall.
    2. Rena, Ravinder, 2006. "Historical Development of Money and Banking in Eritrea from the Axumite Kingdom to the Present," MPRA Paper 12423, University Library of Munich, Germany, revised 17 Nov 2006.
    3. Arnaldo MAURI, 2007. "L’East African Currency Board e la genesi dell’attività bancaria nell’Africa Orientale Britannica," Departmental Working Papers 2007-10, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano.
    4. Arnaldo Mauri, 2003. "Origins and early development of banking in Ethiopia," Departmental Working Papers 2003-04, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano.
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    Cited by:

    1. Arnaldo MAURI, 2010. "Monetary developments and decolonization in Ethiopia," Departmental Working Papers 2010-15, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano.
    2. Arnaldo Mauri, 2010. "Monetary Developments and Decolonization in Ethiopia (1941-1952)," Acta Universitatis Danubius. OEconomica, Danubius University of Galati, issue 1(1), pages 5-16, March.
    3. Aman, Moustapha & Nenovsky, Nikolay, 2014. "Géopolitique du régime monétaire. Expliquer la longévité du Currency Board de Djibouti
      [Geopolitics of Monetaray Regime. Expaning the longevity of Currency Board in Djibouti]
      ," MPRA Paper 80089, University Library of Munich, Germany, revised 2016.

    More about this item

    Keywords

    Ethiopia; African Banking; Banking History; Monetary Reform;

    JEL classification:

    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • N27 - Economic History - - Financial Markets and Institutions - - - Africa; Oceania

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    1. Commercial Bank of Ethiopia in Wikipedia French ne '')
    2. Etiopia in Wikipedia Italian ne '')
    3. Commercial Bank of Ethiopia in Wikipedia Swedish ne '')

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