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The National Bank of Romania during the years of the Great Depression – 1929-1933

Author

Listed:
  • Elisabeta Blejan

    (National Bank of Romania)

  • Brîndusa Costache

    (National Bank of Romania)

  • Adriana Aloman

    (National Bank of Romania)

Abstract

Nearly eighty years ago, the Great Depression had a powerful impact not only on the world economy, but also on the social and political structures at international level by establishing new economic rules and relations, novel ideologies, and a different line of thinking. In Romania, the crisis made itself felt with a time lag, and had specific features combining the general issues with the local ones, which were typical of the weaknesses the domestic economy was mired in. This paper is aimed at showing how Romania was affected by the economic crisis that brought a plethora of events in its tail. It focuses particularly on the role played by the National Bank of Romania in its capacity as an issuing house. In order to provide a multifaceted image of the crisis, the introductory part of the present paper deals with an overview of the developments in the Romanian economy in the course of the first inter-war decade.

Suggested Citation

  • Elisabeta Blejan & Brîndusa Costache & Adriana Aloman, 2009. "The National Bank of Romania during the years of the Great Depression – 1929-1933," SEEMHN papers 8, National Bank of Serbia.
    • Handle: RePEc:nsb:seemhn:8
    Note: The paper was presented at the Fourth Annual SEEMHN Conference hosted by the National Bank of Serbia, 27 March 2009 in Belgrade.
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    File URL: https://www.nbs.rs/internet/latinica/90/seemhn/seemhn_conf/SEEMHN_14_Rumunija.pdf
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    More about this item

    Keywords

    Great Depression; National Bank of Romania; Banking System; Public Debt; Monetary Policy;
    All these keywords.

    JEL classification:

    • B25 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Historical; Institutional; Evolutionary; Austrian; Stockholm School
    • N24 - Economic History - - Financial Markets and Institutions - - - Europe: 1913-

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