From Banking Office to National Bank

doi:10.1017/9781009367578.011

8 - From Banking Office to National Bank

The Establishment of the National Bank of Czechoslovakia, 1919–1926

from Part II - Specific

Published online by Cambridge University Press: 02 November 2023

Jakub Kunert

Edited by

Barry Eichengreen and

Andreas Kakridis

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Barry Eichengreen: Affiliation:
University of California, Berkeley
Andreas Kakridis: Affiliation:
Bank of Greece and Panteion University, Athens

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Summary

Establishing the National Bank of Czechoslovakia was the culmination of an eight-year process. Although Czechoslovak representatives had envisaged an independent monetary institution before founding an independent state, it took a long time to realise their vision. The chapter describes events surrounding the creation of the National Bank of Czechoslovakia and shows how ideas about the bank’s structure and constitution developed between 1919 and 1926. It emphasizes external factors that led Czechoslovak politicians and economic policymakers to establish a bank of issue even before joining the gold standard, thus deviating from their original intentions. The chapter then compares the two competing Czechoslovak monetary authorities (Banking Office of the Ministry of Finance and National Bank of Czechoslovakia) and analyses whether the chosen solution helped to maintain the desired independence of the newly established central bank during its first years of its existence (1926-1934).

Keywords

Banking office of the Ministry of Finance National Bank of Czechoslovakia Vilém Pospíšil Montague Norman Alois Rašín Czecholoan Czechoslovak koruna

Type: Chapter
Information: The Spread of the Modern Central Bank and Global Cooperation
1919–1939
, pp. 197 - 224

DOI: https://doi.org/10.1017/9781009367578.011 [Opens in a new window]

Publisher: Cambridge University Press

Print publication year: 2023

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