Ethnic Conflicts and Monetary Integration in Austria-Hungary, 1867-1914

13 Pages Posted: 15 Feb 2001

Date Written: December 2000


Economic history can offer an independent contribution to the analysis of the conditions of success and the mode of action of different types of monetary integration. Up to now, the debate about the functional mechanisms of monetary unions in the real world has ignored the Habsburg Monarchy. The Monarchy was not only a customs union and a single market with well developed trade, capital and service relations, it was also a currency union with a joint national bank and a joint monetary policy. The paper deals with: Expectations for the new currency regarding competitiveness and opportunities of participation for social groups within Habsburg Monarchy; The construction of the union's order as a determinant or as a condition for success, as well as its conflict potential; and Mechanisms for mastering conflicts in monetary unions including rules for exit, crisis management, flexibility of the order, etc.

Keywords: Ethnic Conflict, Monetary Integration, Currency Union, Gold Standard, Austria-Hungary, Austria, Hungary, Austrian-Hungarian Bank, European Central Bank, European Union

JEL Classification: E5, N14, N23, N24, N43, N44

Suggested Citation

Nautz, Jürgen, Ethnic Conflicts and Monetary Integration in Austria-Hungary, 1867-1914 (December 2000). Available at SSRN: or

Jürgen Nautz (Contact Author)

University of Vienna ( email )

Bruenner Strasse 72
Vienna 1210, Vienna

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