Bank Hegemony

György Kövér

The five articles of the section (written by Peter Eigner, Béla Tomka, György Kövér, Ágnes Pogány, and Attila Bartha-György Lengyel) deal with different aspects of Central European banking history. The development of Germany, Austria and Hungary was not uniform in terms of banking-industry relations. The situation evolved differently in Cis- and Transleithan areas, the intensity and dynamics of the relations being different at the turn of the century, in the 1920s and the 1930s. In Hungary, these relations culminated in the post-World War I period of inflation and over the twenties in general. It is important to know whether the bankers’ position in industry meant a say in the decisions of the enterprises or was only a sort of simple control and orientation? Was the development of the monetary sphere bank- or market-oriented? As long as such examinations based on internal sources are not available about our times, it is hardly possible to draw generalizing conclusions concerning the present. What is certain, however, is that during the privatization of firms, the representatives of the banking system have accumulated more leading positions to the detriment of the managers of the productive sphere.

Released: Replika 25, 23–86.
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