In this book Zoltán Gál opened important window to the past of Central European provincial banks. He reminds us to fascinating world of provincial elites we have forgotten. However, even more importantly he found new and original methods to exploit the data, which remained after the provincial banks disappeared. To conclude, inevitable book for anybody interested in provincial elites and economies and for anybody interested in cliometrics.

 

Written by a scholar trained in both history and geography, this book provides an informed account of the history of the banking sector in Hungary in the early 20th century, as well as a systematic analysis of the spatial aspects of financial development. The volume offers a set of highly innovative approaches to important issues regarding the economic history of Hungary including the role of financial intermediaries in urban development, the hierarchy of financial centres and economic disparities within the country.

 

Combining impeccable quantitative analysis of financial stocks and flows with original insights into the relationships between financial development and urban development, the book represents a creative marriage of financial geography and financial history. Its theme resonates with particular significance in the context of the ongoing financial crisis, which has demonstrated what happens when banks indulge indiscriminately in globalisation and innovation, neglecting local knowledge and local responsibilities.