Polish Banking in the Inter‐War Period
Polish Banking in the Inter‐War Period
The principal trend in the development of the banking system in Poland in the years between the wars was a gradual decrease in the importance of private banking and an enhanced role for the state banks. This process was not the result of a deliberate government policy, but reflected the weakness of private Polish capital and the unwillingness of foreign capital to make large investments in a country situated between Germany and the Soviet Union. The great economic crisis was unusually protracted in Poland, continuing from 1929 until 1935, and this, together with the rapid outflow of foreign capital, severely affected the private banks. The government lacked the resources to assist any but the most important private banks, and many of the smaller ones collapsed.
Keywords: banking collapses, banks, capital outflow, economic crisis, foreign capital, government policy, Poland, private banks, private capital, state banks
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