Full metadata record
DC FieldValueLanguage
dc.contributor.authorDomonkos, Endre
dc.contributor.authorSchlett, András
dc.date.accessioned2024-02-07T14:55:42Z
dc.date.available2024-02-07T14:55:42Z
dc.date.issued2023
dc.identifier.citationWest Bohemian Historical Review. 2023, no. 2, p. 203-236.en
dc.identifier.issn1804-5480
dc.identifier.urihttp://hdl.handle.net/11025/55282
dc.format34 s.cs
dc.format.mediumapplication/pdf
dc.format.mimetypeapplication/pdf
dc.language.isoenen
dc.publisherZápadočeská univerzita v Plznics
dc.rights© Západočeská univerzita v Plznics
dc.subjecthospodářské dějinycs
dc.subjectinflacecs
dc.subjectpoválečné obdobícs
dc.subjectstřední a východní Evropacs
dc.subjectfinanční stabilizacecs
dc.subjectválečné reparacecs
dc.subjectMaďarskocs
dc.titleInflation and Stabilisation in Central and Eastern Europe after World War II: The Case of Hungaryen
dc.typečlánekcs
dc.typearticleen
dc.rights.accessopenAccessen
dc.type.versionpublishedVersionen
dc.description.abstract-translatedThe Central and Eastern European countries were hit by severe devastation and destruction caused by World War II. Besides war damages, Eastern Europe also suffered from a general shortage of basic foodstuffs and commodities. Economic recovery in the defeated countries of the region (Hungary, Bulgaria, East Germany, and Romania) was hindered by war reparations. The Soviets used reparation payments as a political tool to destroy the economic pillars of the independence of Central and Eastern Europe. After World War II, most industrial equipment and machinery were dismantled and shipped to the USSR as war booty. The paper’s objective is to analyse the background of financial reconstruction in Central and Eastern Europe after 1945 by considering the burdens of war reparations and the financial obligations of the defeated countries in the region. Besides war costs, a significant part of the national resources and income were destroyed. The collapse of production, the shortage of goods, and at the same time, the increase in money in circulation have served as a favourable situation for accelerating inflation. Reparations diverted substantial resources from the financial reconstruction after the initial postwar period. The assumption of the essay is that both excessive reparation burdens and arbitrary deliveries to the Soviet Union contributed to the rising level of inflation and the paralysis of economic activity in many countries, including the Soviet occupation zone of Germany, Hungary, and Romania. Inflation accelerated everywhere, but there were significant differences. Various attempts were made in each country to roll back inflation and financial stabilisation. In parallel with the introduction of financial reconstruction in the countries of the region, the main reasons for hyperinflation in Hungary will be analysed based on the data from archives and relevant literature overview. In the spring and summer of 1946, one of the most ferocious inflations in the world raged in Hungary. Solving the hyperinflation process contained numerous elements, so people recognised the significance of inflation events in Hungarian money history from the aspect of money theory. So, not only was the extent of the Hungarian depreciation regarded and is regarded now to be unique in the world, but economic experts also mentioned the prepared stabilisation beyond inflationary circumstances and the executed stabilisation from ordinary resources, the establishment of a stable currency, the forint, as a “miracle”.en
dc.subject.translatedeconomic historyen
dc.subject.translatedinflationen
dc.subject.translatedpostwar Perioden
dc.subject.translatedCentral and Eastern Europe;en
dc.subject.translatedfinancial stabilisationen
dc.subject.translatedwar reparationen
dc.subject.translatedHungaryen
dc.type.statusPeer revieweden
Appears in Collections:Číslo 2 (2023)
Číslo 2 (2023)

Files in This Item:
File Description SizeFormat 
WBHR_2023_2-87-120.pdfPlný text208,86 kBAdobe PDFView/Open


Please use this identifier to cite or link to this item: http://hdl.handle.net/11025/55282

Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.