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- Title
'Propitious contrast': Romanian borrowing in a Balkan mirror, 1878–1913.
- Authors
Maerean, Andreea-Alexandra; Pedersen, Maja; Sharp, Paul
- Abstract
How was Romania able to borrow cheaply on the international capital markets before World War I? We explore this within the context of its three southeast European neighbours, Bulgaria, Greece and Serbia, using a novel dataset of monthly bond prices from the Berlin and London stock exchanges. A comparison of country characteristics and panel data analysis suggests that Romania was able to borrow under more favourable conditions due to its abundant natural resources and desirable exports.
- Subjects
ROMANIA; NATURAL resources; WORLD War I; CAPITAL market; BALKAN Wars, 1912-1913; BOND prices; INTERNATIONAL markets
- Publication
Financial History Review, 2023, Vol 30, Issue 1, p100
- ISSN
0968-5650
- Publication type
Article
- DOI
10.1017/S0968565022000142