IDEAS home Printed from
   My bibliography  Save this paper

Il decollo del sistema bancario romeno ed il ruolo svolto dalle banche straniere


  • Arnaldo MAURI


  • Claudia Gabriela BAICU



EARLY DEVELOPMENT OF THE ROMANIA’S BANKING SYSTEM AND THE ROLE OF FOREIGN BANKS. The paper presents an historical synthesis of the rise and early growth of banking industry in Romania from mid-XIX century to the outbreak of World War I and concentrates on the last decades of this period. The idea of a single national bank of issue under the control of the government had been raised during the 1848 revolution, but it was for years just a topic for study and discussion without any concrete development. Therefore, the most significant step in building the foundations of a banking system was the establishment, in 1880, of the National Bank of Romania. Only one-third of its shares were subscribed by the Government whilst two thirds were in private hands, both domestic and foreign. Then, the study highlights the substantial input, both in terms of capital and know-how (modern operating standards in commercial banking and investment banking), provided by financial institutions of industrial advanced European countries to the establishment of domestic financial intermediaries and, by this way, to support the development process of Romanian banking system. The role of banks in promoting the growth of the Romanian economy in the turn of the century by gathering huge amounts of financial capital and by directing funds into the most promising investment projects has been widely recognized. The economic development of the country was, in fact, the result of capital inflows and of improvements in exploiting domestic natural resources. Finally, the paper examines the development of banking in Transylvania in the time when this region was under Austro-Hungarian rule.

Suggested Citation

  • Arnaldo MAURI & Claudia Gabriela BAICU, 2008. "Il decollo del sistema bancario romeno ed il ruolo svolto dalle banche straniere," Departmental Working Papers 2008-35, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano.
  • Handle: RePEc:mil:wpdepa:2008-35

    Download full text from publisher

    File URL:
    Download Restriction: no

    More about this item


    History of financial development; banking; Romania; Transylvania;

    JEL classification:

    • N23 - Economic History - - Financial Markets and Institutions - - - Europe: Pre-1913
    • G20 - Financial Economics - - Financial Institutions and Services - - - General
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

    NEP fields

    This paper has been announced in the following NEP Reports:


    This item is featured on the following reading lists or Wikipedia pages:
    1. Storia della Romania in Wikipedia Italian ne '')
    2. Rumania in Wikipedia Spanish ne '')


    Access and download statistics


    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:mil:wpdepa:2008-35. 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) The email address of this maintainer does not seem to be valid anymore. Please ask DEMM Working Papers to update the entry or send us the correct email address. General contact details of provider: .

    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.

    We have no references for this item. You can help adding them by using 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 RePEc Author Service 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.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.