The Banking Crises In The Kingdom Of Serbia In 1908 And 1912
Biljana Stojanoviæ ()
Additional contact information
Biljana Stojanoviæ: Faculty for International Economy, Belgrade Megatrend University, Belgrad, Serbia
Analele Stiintifice ale Universitatii "Alexandru Ioan Cuza" din Iasi - Stiinte Economice (1954-2015), 2010, vol. 57, 275-288
The aim of this paper is to analyse the first two systemic banking crises in Serbia occurred in 1908 and 1912 – their causes, mechanics and consequences. The analysis shows that the crises were caused by decreased confidence in banks in times of political turmoils and wars but were not long and deep. Also, they did not result in neither, massive bankruptcies of the banks, nor in recessions, in-creased public debt and currency crises. It could be said that both crises were successfully managed, although in a very complex political and economic circumstances, by the concerted actions of the Na-tional Bank and the Serbian state. These actions mainly followed the so called Bagehot’s rule – to lend freely to all banks on the basis of sound collateral but on a penalty rate.
Keywords: banking crisis; savings deposits; National bank; credits; cover; crisis containment measures. (search for similar items in EconPapers)
JEL-codes: N1 N2 (search for similar items in EconPapers)
References: View complete reference list from CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:aic:journl:y:2010:v:57:p:275-288
Access Statistics for this article
More articles in Analele Stiintifice ale Universitatii "Alexandru Ioan Cuza" din Iasi - Stiinte Economice (1954-2015) from Alexandru Ioan Cuza University, Faculty of Economics and Business Administration Contact information at EDIRC.
Bibliographic data for series maintained by Sireteanu Napoleon-Alexandru ().